In an op-ed published Friday in USA Today, Republican presidential candidate Herman Cain said his “9-9-9” plan appeals to regular Americans who want common-sense solutions -- like his Uncle Leroy and Aunt Bessie.
The plan, Cain wrote, “passes the Leroy & Bessie test” because it is simple, fair, and pro-jobs. He laid out three economic principles on which the plan is grounded: Production drives the economy; taking risks promotes growth; and “units of measurement must be dependable.”
Cain wrote that his plan would replace the current tax code completely, eliminating the complexity of the system. The proposal includes a 9 percent corporate flat tax, a 9 percent personal flat tax, and a new 9 percent national sales tax on new goods. The sales tax has gotten flak from all sides of the political spectrum, in particular because it would be on top of state and local taxes – not in place of them.
"If you want a real pro-growth, pro-jobs, pro-export, pro-taxpayer plan, this is it," Cain wrote. "It taxes everything once but nothing twice. There will be the fewest opportunities to evade the tax and the least incentive to do so. More important, the plan will generate the most growth and jobs, and provide certainty to the engine of economic growth — the business sector."
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