Categories: Economy, Featured, Politics, Tax Policy
Tea Party politics buoy Herman Cain’s bid for President, but questions remain
No dearth of material has been published in recent weeks about the bad math in Herman Cain’s 9-9-9 tax plan. It would effectively scrap the current tax system and replace it with a 9% business flat tax, a 9% individual flat tax, and a 9% national sales tax. Did he steal it from Sim City? Is it the price of a pizza? The work of the devil? We can only guess.
What is pretty clear, however, is that Herman Cain’s plan would mean a significant tax increase for the roughly 30 million low-income Americans who pay neither income nor payroll taxes as well as a … Read more...