Posted on 10/12/2011 6:50:02 PM PDT by justsaynomore
As businessman Herman Cain surges atop state and national polls and becomes a top-tier presidential contender, his signature "9-9-9" plan, which calls for a nine percent tax on income, a nine percent national sales tax, and a nine percent corporate income tax, has come under scrutiny from the right and the left.
Famed supply-side economist Art Laffer told HUMAN EVENTS that Cain's "9-9-9" plan was a pro-growth plan that would create the proper conditions for America's economy to grow and thrive again.
"Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to the U.S. economy," Laffer told HUMAN EVENTS in a statement. "The goal of supply-side tax reform is always a broadening of the tax base and lowering of marginal tax rates."
Added Laffer: "Mr. Cain’s plan is simple, transparent, neutral with respect to capital and labor, and savings and consumption, and also greatly decreases the hidden costs of tax compliance. There is no doubt that economic growth would surge upon implementation of 9-9-9."
Laffer also said that "such a system provides the least avenues to avoid paying taxes, yet also maintains the strongest incentives for work effort, production, and investment."
At the GOP presidential debate in New Hampshire on Tuesday, Cain's plan received criticism from many of the candidates on stage.
Former Utah Gov. Jon Huntsman said that Americans needed a plan that was "doable-doable-doable" when asked his opinion on Cain's "9-9-9" plan.
Rep. Michele Bachmann (R.-Minn.) said that the "9-9-9" plan was not "a jobs plan," but was rather "a tax plan." Bachmann also complained of Congress getting another revenue stream from the plan and said, "you turn the 9-9-9 plan upside down, and the devil's in the details."
Former Pennsylvania Sen. Rick Santorum said that the "9-9-9" plan was not a passable solution.
Further, Cain has been criticized from the left as well, as charges that his "9-9-9" plan is regressive have been made, charges that Cain has often refuted by citing that the payroll tax would be eliminated under his plan and used goods would not be levied sales taxes.
As Cain's profile increases and poll numbers rise, his opponents will attack him more fiercely over his "9-9-9" plan, but it looks like Cain has found an ally in Laffer, an economist who is more than respected by fiscal, pro-growth conservatives.
What could possibly prevent 9-9-9 from becoming 12-12-12, then 16-16-16 as congress gets to tool with it over the years?
Art, how do you prevent the 9-9-9 from turning into 27-27-27?
When I was in High School, I ate a whole medium Goldfather’s “supreme” pizza by myself.
I never liked huntsman but I lost some respect for Ms bachman with the upside down 999. Many who support Cain are God fearing country loving people. To bring up 666 against Cain was really ugly.
The ballot box.
Next step is to repeal the 17th Amendment.
How do you prevent anything from being passed?
Pinganator!
NBC/WSJ poll: Cain now leads GOP pack (Cain 27% Romney 23% Perry 16%)
http://www.freerepublic.com/focus/f-news/2791874/posts
Oh my: Cain 30, Romney 22, Gingrich 15, Perry 14
http://www.freerepublic.com/focus/f-news/2791920/posts
“Cain Vaults to Lead in Poll” : WALL STREET JOURNAL
http://www.freerepublic.com/focus/f-news/2791936/posts
Herman Cain versus the established idealogue
http://communities.washingtontimes.com/neighborhood/middle-class-guy/2011/oct/12/herman-cain-versus-establishment/#.TpY2fI8WOOQ.facebook
Cain’s 9-9-9 Plan Gets a Closer Look
http://www.freerepublic.com/focus/f-news/2791905/posts
Kevin Hassett, an economist and senior fellow at the conservative American Enterprise Institute, praised Cain’s plan as moving toward a flat tax.
“If someone’s going to attack the 9-9-9 plan I would say they should be careful because you are talking about the Republican holy grail,” Hassett said,
The plan, Hassett said, hews to the conservative orthodoxy of “taxing consumption rather than success.”
HERMAN CAIN OP-ED: My Plan To Revive Economic Growth
http://www.bookerrising.net/2011/09/herman-cain-op-ed-my-plan-to-revive.html
SHOCK POLL: Herman Cain Leads GOP Nationally! (PPP Poll has Romney trailing by 8 points)
http://www.freerepublic.com/focus/f-news/2791769/posts
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Ready to help get Cain to the WH? Give your time, talent or treasure here: http://www.hermancain.com
So, as much as I like consumption taxes in principle, this is one proposal where the devil is truly in the details and Mr. Cain should be very clear about what he proposes to make this both workable, just, and minimally intrusive.
TPPF recently installed Art Laffer as a Sr. Fellow.
What is stopping them now? Nothing.
The 999 has more built-in limitations than the current tax system:
It is transparent, so everyone will see what Congress is trying to do if they try to raise rates.
Because everyone is paying, if they try to raise the rates, there will be public outcry. The very though of raising taxes on the poor is like a built in boobytrap.
Cain will ask Congress to put in 2/3 majorit rules to keep from changing rates - if they will is another question. It has been done, historically.
Looking for a guarantee on promises? Talk to God. You won’t find it in human politics.
Because 100% of the people are now PAYING THE DAMN TAX.
Have You seen what happens when welfare checks don’t go out in time.
Also it would required two thirds vote not just majority.
Because 100% of the people are now PAYING THE DAMN TAX.
Have You seen what happens when welfare checks don’t go out in time.
Also it would required two thirds vote not just majority.
voters
How do you prevent democrats from stealing all your money?
I honestly can think of nothing worse that could be done to worsen the housing crisis.
I haven't made up my mind about 9-9-9, but I don't see anything that keeps our current rates from going up either. Right now, we have tinkering in the background with brackets and such.
You.
Tip of the day: don't vote for Obama.
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