I recently found out about Herman Cain’s economic plan that he unveiled late last month in Atlanta. It is called the “999″ plan. It replaces the current tax code with a 9 percent tax on corporate profits, personal income, and national retail sales. Well, well, well, an income tax and a national sales tax. Cain’s phase two is the FairTax, of which I have written about many times. Cain claims his tax plan is revenue neutral, which means that he supports multi-trillion-dollar budgets. It also means that he is simply rearranging the deck chairs on the Titanic.
I think Ron Paul has a better plan: abolish the income tax and replace it with nothing.
