Herman Cain ’9 9 9′ Plan October 13
October 13, 2011 by staff
Herman Cain ’9 9 9′ Plan October 13, Republican presidential candidate Herman Cain has a provocative plan to reform the U.S. tax code: No federal taxes higher than the 9 percent for anyone.
His “9-9-9″ tax plan has resonated with many Republican voters because of its simplicity and boldness. It is one of the factors that has pushed up Mr. Cain in recent weeks, as other presidential candidates have been hesitant.
But now, with many people looking closer to Cain as the main rival to former Massachusetts Gov. Mitt Romney for the Republican nomination, the 9-9-9 tax plan is also developing a further examination. Perhaps the most politically sensitive question fairness is concerned.
Some independent tax experts say the plan would be a major tax cut for the wealthiest Americans, and a tax increase for millions in the bottom of the income scale. In fact, many poor Americans would pay more income tax than the rich, they say.
Cain floor plan is for a 9 percent income tax, a tax of 9 percent of sales and a 9 percent tax on business income. Cain’s premise is to treat all Americans lump simplicity, but his plan may have an impact that varies widely among different groups.
The center of the debate is that the middle and lower-income Americans spend almost all their income, ie the sales tax represent a larger percentage of their income than for wealthier Americans whose income exceeds your expenses. The richest Americans, meanwhile, would see a big drop in the rate of income tax.
Please feel free to send if you have any questions regarding this post , you can contact on
Disclaimer: The views expressed on this site are that of the authors and not necessarily that of U.S.S.POST.