Saturday, April 28, 2012

Cain's 9-9-9 tax plan

Several months after dropping out of the 2012 presidential race, Herman Cain is still pushing his 9-9-9 tax plan. His plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax and substitute three taxes imposed at a 9 percent rate:
A 9 percent national sales tax,
A 9 percent business flat tax, and
A 9 percent individual flat tax.
Like the so-called "Fair Tax" and the "Flat Tax," Cain's 9-9-9 plan is based on the false premise that we need any individual or business tax at all. Back in 1913, the central government only consumed 2-3% of GDP -- a tiny fraction of what it takes now. The tax code filled 400 pages. (Today, it's 82,000 pages!) The central government got by just fine without any individual tax whatsoever before the 16th Amendment in 1913. Why not now?
‎Would you be willing to give up your favorite federal program if it meant never having to pay the income tax again? — Harry Browne
If we rid ourselves of all the unconstitutional agencies, programs, laws, rules, policies, and judicial rulings, there'd be no need for any individual tax whatsoever -- not even Cain's 9-9-9!

Cain is far too generous with the taxpayer's money!

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