Herman Cain’s 999 Tax Plan Gains Popularity; Cain Says, “America can’t wait for 2012”

By on Oct 15, 2011 in Economy, International, Politics, United States Comments

Herman Cain
Image Credit: hermancain.com

Herman Cain’s 999 tax plan has gained momentum with no less than the economic adviser of former US President Reagan, Art Laffer, expressing his thoughts about Cain’s “wonderful” idea. This is based on political news reports, October 14, 2011.

According to Cain’s website,

 “America can’t wait for 2012, we need growth NOW.”

Herman Cain’s website further revealed that Phase I of the 9-9-9 plan would involve Flat Tax supporters. Here is an excerpt about Phase I.

  • The Phase 1 Enhanced Plan unites Flat Tax supporters with Fair tax supporters.
  • Achieves the broadest possible tax base along with the lowest possible rate of 9%.
  • It ends the Payroll Tax completely – a permanent holiday!
  • Zero capital gains tax
  • Ends the Death Tax.
  • Eliminates double taxation of dividends
  • Business Flat Tax – 9%

Aside from these, there are more good options for Americans.  Phase II involves “The Fair Tax,” which would make American exported goods competitive in the market.

Presently however, some reports say that Herman Cain’s plan was allegedly inspired by “SimCity4,” a video game.

Whether this is true or not, Herman Cain, businessman and talk show host, with his 999 tax plan, is still a name that candidates may contend with in the presidential elections.

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