Can the answer to our nation’s tax-and-debt problems really be as simple as Herman Cain’s 9-9-9 plan? The business executive and Republican presidential candidate says his plan is based on three principles; that production, not consumption, drives the economy … that risk-taking creates growth … and units of measurement must be dependable.
Writing in U-S-A Today, Herman Cain proposes a 9% corporate flat tax … 9% personal flat tax (after charitable contribution deductions) … and a 9% national sales tax on all new goods. He would get rid of taxes on capital gains and the so-called ‘death tax’. There would be no more payroll taxes.
Cain’s plan seems to have a few problems, which I will talk about tomorrow. But let me say this: our nation’s economic woes call for dynamic solutions. That requires creative thinking “outside the box”, as some call it. If nothing else, Cain provides us with an excellent starting point for discussion. As such, 9-9-9 deserves a serious hearing.
Our thought for today is from John Cage:
“I can’t understand why people are frightened of new ideas. I’m frightened of the old ones.”