As I understand it, Cain's plan rips the tax code out by the roots, lowers the corporate tax to 9% (from 35%) taxes any level of income at the same 9% and eliminates deductions and other "loopholes".
Seems very ambitious to think such a radical change like that could pass through this very divided congress and senate.
I’m not saying in the totality it’s not fair-er, or a better mouse trap, but I got my doubts that something so different and such a big change won’t be pooh-poohed to oblivion causing one of two things to happen. The plan will poof, disappear once Cain is elected, assuming. OR it’s just a talking point for a political campaign but hey, I think it’s a talking point worth...eh, talking about.
Gets that 35% tax versus 9% out there and makes people aware of just how much these millionaires, billionaires and corporate jet owners are paying in terms of tax percentages.