When I first heard Herman Cain’s proposal of “9-9-9″ I said what a perfect package. Here is a short sound that captures your attention. I suggested that perhaps Cain did not have his idea completely developed but it has impact.
I have since learned that Cain is a mathematician having majored in that discipline in college. He is also a computer maven which he used to rise to the top of the corporate pile. Thus I am sure he has done the math for his “9-9-9″ plan. For him it would be a simple equation. And he has stated categorically that his plan would raise sufficient revenue, although 9% of the total economy does not cover the 25% of the economy spent by the Federal government. In any case, he will give the numbers to any who ask.
While his intellectual credentials are impressive, his busines track record also speaks well of his abilities, he did turn failing business into success stories. Now add to these his impressive public relations abilities. He knows how to relate to the voter and capture his confidence. He speaks well and has an engaging personality. In sum he is the real McCoy.
I like him.
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9 9 9 looks good to the rich and powerful because it will lower their taxes and place the burden on the poor who are more numerous than ever. You’re mistaken on this one, Leo. Take off the pin-striped pants and pull on some blue jeans with the rest of us working poor.
The Washington Post has an interesting analysis of the 9-9-9- plan today (See ‘The Fact Checker’ online) Apparently Bachman is correct “The devil is in the details” because the assumptions one makes in analysing it predetermines the plan’s results. I come away with the sense that Lorenzo is right: the tax burden gets shifted downward. As one who is not ‘working poor’ (actually I’m not working at all) I would come out pretty well, although I do wonder what impact paying a 9% sales tax on each of the 8 homes I have bought over the years would have done to the housing market
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The sales tax would come on top of many of the items already taxes by cities and counties to support their necessary services. The consequence could be to depress consumer demand. Weak demand is already a factor in the continuing economic stagnation.
The next consequence could be municipalities going bankrupt.
Lorenzo
I come from the “blue jeans of the working poor” and am today simply a retired federal employee living on a fixed income with a total net worth of maybe $200,000 including the home I own. So I am hardly counted among the “rich and the powerful.”
I look at Cain’s tax plan as a good idea to answer the concern that most have that our tax system is broken, i.e. we do not collect sufficient revenue to pay for government expenses. There are others. Dismissing one or the other with glib remarks does nothing to further the search for an answer.