Herman Cain Tax Plan: Dubious Or Dream For Conservatives?
October 17, 2011 by Sam Rolley
One analysis of the Herman Cain tax proposal finds that implementation of the 2012 GOP presidential contenderâ€™s 9-9-9 plan may be difficult, but conservatives say it is a welcome idea in the tax discussion.
The Washington Post administered a fact check on claims Cain has made about his plan and found at least some aspects of it to be â€śhighly dubious.â€ť
The article says that while Cainâ€™s claim that he will throw out the current tax plan may be true, his ability to replace it with 9-9-9 would take a long time, and the result would be only temporary. The research indicates such because 9-9-9 is the second of three parts involved in the Cain tax goal. The first step would cut individual and corporate tax rates to a top 25 percent rate, and the last step is actually the replacement of any current tax structure — even 9-9-9 — with a national sales tax or Fair Tax.
The article expresses doubt in the plan:
â€śAs denizens of Washington, we find this three-step process to be highly dubious. It takes years, even decades, to fundamentally overhaul the tax code. Herman Cain is going to do this three times in his presidency?â€ť
The Wall Street JournalÂ says the Cain tax proposal â€śclearly has roots in the Reagan-era antitax movement.â€ť The newspaper reports that Cain even met extensively with conservative economist Arthur Laffer in considering the basis of his proposal. Laffer has said that 9-9-9 will be a â€śvast improvement to the current tax system and a boon to the U.S. economy.â€ť
Conservative supporters believe that even though Cainâ€™s proposal may take a long time to implement completely, beginning the discussion is the first step.