Well, I’m not going to toss out Mr. Cain with the bath water without asking a few questions:
1) Has he said he wants to add his national sales tax on top of the income tax?
2) Does he have a plan to repeal the 16th amendment?
That’s what his 9-9-9 economic plan is:
9% national sales tax (New goods only)
9% income tax
9% corporate tax
I would reckon the income and corporate taxes don’t have few, if any, loopholes.
"The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes. It simplifies the code dramatically: 9% business flat tax, 9% personal flat tax, 9% sales tax."
~Herman Cain
One could reduce the income rate to 0 and simply use the 'Fair Tax' that he supports.
I have posted many times, politicans always have a new idea on taxes, but not one has talked about repeal of the 16th amendment...It would take passing congress and then 2/3 of all the states to be repealed....I think congress would not want to give up that power of income taxes...without repeal, no new types of taxes of any kind....
Yes to question #1. 9% income tax with a 9% sales tax.