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October 16, 2011

Herman Cain's 9-9-9 tax plan

Herman Cain has been getting a lot of mileage about his 'simple' 9-9-9 tax plan. Jared Bernstein says that it will result in a big tax increase on the middle class and a huge tax cut for the very wealthy. I have seen similar conclusions reached by other analysts.

While this is a goal of the oligarchy, they would like to achieve their goal in more subtle ways. The very transparency of Cain's scheme is likely to be the thing that pricks his bubble and sends him back into the ranks of the stragglers for the Republican nomination.

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Comments

Shalom Mano,

I love how the 1 percent begin to sputter when you say that you agree with their proposal as long as their flat/sales tax will be applied to ALL sources of income/purchases including ALL financial instruments and capital gains.

B'shalom,

Jeff

Posted by Jeff Hess on October 17, 2011 04:48 AM

There is no viable alternative, taxes on the rich must increase. The middle cannot bear the squeeze much longer.

Posted by Joe Lotto Orton on October 17, 2011 06:29 AM

You seem to be missing the point of this. A 9% tax on income and capital gains is very slight when compared to any other developed economy across the world and would be a huge gain for the rich and in effect a tax cut.

In times of spiralling national debt and increased government spending the last thing the country needs is a ludicrous tax regime such as this one. Well thought through, I have to say far from it!

Posted by durham on October 17, 2011 10:46 AM

I really like Herman Cain. It is unfortunate that these women can come out of the woodwork and level these accusations against him. No matter what party you are affilaited with no one deserves to be falsly accused. I don't know if he did it or not but it seems very strange.

Posted by Houston Tax Attorney on November 10, 2011 11:06 AM

A better idea would be taking more state lottery money in place of hard-working families' income.

Posted by Mike Smith on December 12, 2011 08:56 AM