Well first, I would like to start off by saying that I know I skipped current event #2, I was in Ohio and was lazy to get to a computer by Sunday night.
OK, now Herman Cain. One of my least favorite Republican candidates. First off he comes from a business background, all he sees in economic policies is cost and returns. His 9-9-9 plan resembles that of a pizza deal, which is exactly where he came from, CEO of Godfather Pizza. One fun fact is that it is the recommended settings in SimCity. 9% income tax, 9% sales tax and 9% business tax. Now, I do agree that we should have tax overhaul, but this plan is not it.
He has little sense of the hardship that a majority of Americans are facing right now. For a 50k household, the tax burden would jump from 8.3k to 13.5k. A stupid 9% sales tax would kill low income families. The burden goes from rich people to poor people, who don't have much money to begin with, so whats the point? I fail to understand why during an economic downturn the first thing we choose to cut are programs for people who need it the most. This plan would increase the already huge gap between the rich and the poor. The middle class would shrink substantially as well. Businesses shouldn't like this either, because it does a terrible job with tax deductions. They can't deduct wages, and products made overseas... EVERYTHING IS MADE OVERSEAS!
Overall this plan is terrible and once people realize how much this sucks Cain will no longer be a contender, Good Night.
http://www.csmonitor.com/Business/On-the-Economy/2011/1014/999-Plan-A-distributional-nightmare
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