Herman Cain’s 9-9-9 Plan

The details of Herman Cain’s 9-9-9 plan, which is the first stage to his economic plan that he released on August 21:

1. 9% business flat tax. Gross income less all investments, all purchases from other businesses, and all dividends paid to shareholders.
2. 9% individual income flat tax. Gross income less charitable deductions.
3. 9% national sales tax.

He poses the following advantages to his plan:

• It is fair, revenue-neutral, transparent and efficient.
• It puts zero tax on capital gains and repatriated profits.
• It replaces the payroll tax.
• It aids capital availability for small businesses.
• It saves taxpayers $430 billion in annual compliance costs.
• It eliminates the uncertainty holding this economy down.
• It expands the tax base.

FROM: Race 4 2012