Friday, October 14, 2011

Herman Cain's 9-9-9 Tax Plan...(Reading List)


9-9-9

As Mr. Cain sees his popularity and appeal spike upwards, I thought it a good time to provide some additional info on his 9-9-9 Tax Plan. At its simplest, it contains a 9% income tax, a 9% sales tax and a 9% Corporate tax. Designed with the assistance of financial planner from the Cleveland, OH area, the plan is attracting greater scrutiny than ever before.

 Here's a collection of articles from the web discussing it...

Herman Cain's website 9-9-9 Tax Plan details...

Daily Caller story regarding "Club for Growth" endorsement of 9-9-9...

Daily Caller Op-Ed in support of 9-9-9...

Paul Ryan endorses 9-9-9 plan as a "good starting point for debate"...

Wall Street Journal looks at pros/cons...

Wall Street Journal on creation of the plan, role of Art Laffer, Reagan influence...

Washington Post looks at the effect of 9-9-9 on a average income home and a wealthy one...

Washington Post Op-Ed against 9-9-9...

Miami Herald writes that business groups call 9-9-9 a job killer...

The Hill describes 9-9-9 as taking fire from all sides...

Sources:

http://www.hermancain.com/999plan

http://dailycaller.com/2011/10/14/club-for-growth-chief-backs-9-9-9/

http://dailycaller.com/2011/10/14/cains-9-9-9-plan-manna-from-heaven-for-conservatives/

http://dailycaller.com/2011/10/13/paul-ryan-loves-herman-cains-9-9-9-tax-plan/

http://online.wsj.com/article/SB10001424052970204774604576627440442708356.html?mod=WSJ__MIDDLESecondStories

http://online.wsj.com/article/SB10001424052970204774604576629433751126652.html?mod=WSJ_Election_LEFTSecondStories

http://www.washingtonpost.com/blogs/ezra-klein/post/the-9-9-9-plan-for-an-average-household-and-for-a-wealthy-one/2011/08/25/gIQAGKYzhL_blog.html?wpisrc=nl_wonk

http://www.washingtonpost.com/blogs/ezra-klein/post/there-is-no-such-thing-as-the-9-9-9-tax/2011/08/25/gIQAiIhWhL_blog.html?wpisrc=nl_wonk

http://www.miamiherald.com/2011/10/14/2453903/business-groups-call-cains-9-9.html

http://thehill.com/blogs/on-the-money/domestic-taxes/186409-cains-9-9-9-tax-reform-plan-comes-under-fire-from-left-and-right

2 comments:

  1. I'll get back to you after I go through this list. Some of it looks familiar.

    ReplyDelete
  2. From an ideology perspective, the "Daily Caller" cheer leading for 9-9-9 was expected, and I noticed that there were no analyses that actually said it would work.

    From what I could see, the general consensus among actual economists is that 9-9-9 would be an economic death knell for the working and middle classes, but also another windfall for the most fortunate.

    The suggestion that making repatriated profits tax free is somehow going to spur economic growth seems to be a pipe dream, and history proves that out. I believe it was tried in 2004 0r 2006, and the funds were not reinvested, but were used to increase dividend peayments and executive compensation.

    Cain's plan just cannot survive it's encounter with reality.

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