The real issue with 9-9-9: It will effectively eliminate Herman Cain's tax liability

[jmowreader]

The 9-9-9 plan has three parts:

9 percent tax on business income, with purchases from other US-based businesses, capital investments and income from exports exempted.
9 percent tax on income, with charitable contributions the only allowable deduction
9 percent sales tax on new goods

There will be no capital gains tax, payroll tax or any other federal tax.

Let's apply this to Herman Cain's situation.

Income: As a Rich Person, he has a lot of investments. Income from those things are taxed as capital gains, none of which would be taxed under 9-9-9. The comparatively small amount he makes as a columnist and as a minister could be donated, in toto, to his church, thereby eliminating any taxes on his ordinary income.

Sales: Rich people, in general, do not buy new things. They prefer historic homes. They buy estate jewelry. They like classic cars. The things Mr. Cain HAS to buy new are a very small part of his budget.

Business: Herman Cain is an Individual Taxpayer rather than a corporation so this doesn't apply.

Most Republicans seeking the presidency are in it for themselves, but 9-9-9 takes it to a whole new level.

[KamaAina]

1. Not to mention that of his puppetmasters the Koch Bros.

That KochCain's a mean drug!