auditor0007
Gold Member
Typical Republican...
NEW YORK (CNNMoney) -- Herman Cain has a plan to radically reform the nation's tax system and make things a lot simpler for taxpayers.
Problem is, it could end up adding to the deficit and shifting the tax burden away from the wealthy and onto the poor, according to some leading tax experts.
Cain, who's recently moved up in the polls to become one of the leading Republican presidential candidates, is basing much of his campaign on what he calls the 9-9-9 plan, which would get rid of almost all current taxes and replace them with a 9% flat tax on income, a 9% flat corporate tax and a 9% national sales tax.
Herman Cain's 9-9-9 tax plan: Break for the rich? - Oct. 11, 2011
Herman Cain wants a tax system similar to state tax systems where the lowest income earners pay the most and the highest income earners pay the least. It's laughable. He ought to be lynched for even suggesting such a stupid plan. States rely heavily on sales taxes. The less an individual earns, the greater amount of his/her income goes to taxes. In some states such as Texas, the wealthy only pay 25% the rate of what the lowest income earners pay. It's an absolute joke.
I hope the Republicans are stupid enough to make Cain their nominee. Dems will have a field day with his idiotic plan.