It doesn't matter, Cain win or lose, this plan will NEVER see the light of day.
I can't believe there's actually pseudo-intellectuals here who give genuine credence to such a shameless gimmick.
oh... I don't know, with a few tweaks I think the libs will love it.
it will be no harder to change than any other tax system, all it will take is a vote of the congress and the presidents signature. Progressivity and regressivity are meaningless to the congress' ability to manipulate the tax code... it's the power they have. And which tax code you have is irrelevant to thier ability to do it. Do anyone honestly think that just because 9-9-9 passed as 9-9-9 the congress couldn't tomorow say
"well, we're going to keep it 9-9-9 but were going to exempt all income below poverty level from the income tax, and to make up for it we're going to tax B2B purchases 9%... after all, why should they escape the sales tax when people have to pay it"?
Then the next day
"Ok, we need to make another adjustment, capital gains, dividends and interest are income, so they will be subject to the 9% income tax, and since that will bring in additional revenue we're going to use it to give a 9%
sales tax exclusion credit (refundable) for those people living at up to 150% of the poverty level when they file their flat tax... still 9-9-9!!!!"
then the next day
"you know, it's just not fair that the only deduction people have is for charitable donations while business' get to deduct costs, it cost money for people to live too! So we're going to get rid of the business deductions and make thier tax as flat as anyone elses... Revenue-charitable donations!" 9-9-9 baby!!!!!!!!!!!!
then again!
"it is absolutely unfair that the poor who must by food and medicine have to pay the same tax on them as the rich do when they purchase furs and yachts, we're going to exempt food and medicine from the tax as it's to onerous on theose who are not wealthy, and were going to pay for it with a 9% wholesale tax on luxury items! after all, if you have to pay the tax at retail, why shouldn't big business have to pay it wholesale!" 9-9-9 all the way!!!!!!!!
all while maintining the 9-9-9ness!!!!