9-9-9
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
I'll get back to you after I go through this list. Some of it looks familiar.
ReplyDeleteFrom 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.
ReplyDeleteFrom 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.