I love Herman Cain, but his tax plan is so awful that it disqualifies him for serious consideration.
The centerpiece of Cain's campaign is the 9-9-9 tax plan.
It's simple, BUT TRULY AWFUL for two reasons:
1 - it gives the federal government a national sales tax without canceling and making unconstitutional the income tax - and as Bachmann and Mark Levin have pointed out: that's a non-starter for real conservatives.
2 - If Cain wins the nomination and runs on the 9-9-9 plan, then the Democrats will simply point out that this is a HUGE TAX INCREASE on the bottom 51%, who currently pay NO INCOME TAX and only 7.65% and were I come from that is lower than 9%. SO... Cain's plan will actually RAISE taxes on all the households that pay only FICA - and that means he wants to raise taxes on 51% of the households.
IT'S ACTUALLY WORSE: many of the bottom 51% live check-to-check and SPEND NEARLY ALL THEIR PAYCHECK EACH WEEK. Under Cain's plan, they will get 1.5% less each week and have to pay 9% more each week.
That amounts to more than a10% loss for 51% of the households in the USA.
AND ANOTHER THING: many people can deduct their state income tax from their taxable federal income - and Cain's plan would seem to disallow that. So, all the people in states with high state income taxes would get clobbered again.
BOTTOM-LINE: CAIN'S PLAN MAKES FOR SOME GREAT SOUND BITES, BUT THE BIGGEST BITE IS THE ONE IT WOULD TAKE OUT OF MIDDLE AND LOWER INCOME PEOPLE.
IT'S AWFUL, AND IT SHOWS THAT HE IS NOT READY TO BE POTUS.
I THINK HE COULD MAKE A DECENT VEEP AND A GREAT SECRETARY OF COMMERCE.
UPDATE:
MRS. RICK PERRY - AGREES: SHE SAYS, WHEN SHE HEARS 9-9-9 SHE THINKS OF CALLING 911, BECAUSE IT RAISES TAXES ON MOST AMERICANS! (VIDEO AT LINK.)
DEDICATED TO EXPOSING DISINFORMATION AND PROPAGANDA AND TO PROMOTING UNIVERSAL HUMAN RIGHTS - WITH SHARP ANALYSIS AND BLUNT COMMENTARY. NO ADS. NO TIP-JAR. JUST THE TRUTH.
It seems simplistic and not thought out, just like his comments on
ReplyDelete1) no Muslims in his Administration
and
2) Israel wouldn't mind giving up the Right of Return
It's really weird. I don't think the guy really wants to be President. If he did, he'd run these ideas by serious people, and they would be dissected and improved before they were brought to the public.
I really like Cain, but his 9-9-9 plan seems like a loser in so many ways. Worse, Cain's insistence on this plan comes across as politically naive. He simply does not seem ready for prime time.
ReplyDeleteHE HAS A GREAT SMILE AND A GREAT VOICE AND HE'S OPTIMISTIC AND HE HAS SIMPLE RHETORICAL STYLE.
ReplyDeleteAND HE'S A CONSERVATIVE.
OTHER THAN THAT...
ZIP.
ROMNEY IS HEAD AND SHOULDERS ABOVE THEM ALL AND OBAMA.
SMARTERM WITH A BETTER RESUME, GOOD CORE VALUES.
TOO LIBERAL FOR ME, BUT NOBODY TO HIS RIGHT - WHI IS RUNNING - IS BETTER.
RYAN AND DEMINT AND BARBOUR AND JINDAL WERE ALL BETTER, BUT THEY DECIDED NOT TO RUN.
PERRY HAD A GOOD RECORD BUT IS AN AWFUL CANDIDATE.
I'm with you on this, RP. I don't want to be, but I have to be realistic.
ReplyDelete