Cain said his 999 plan 9 percent corporate tax, 9 percent personal income tax and 9 percent national sales tax is a bold solution to the nations weak economy and those who didnt agree had likely tampered with the plans formula. Go ahead and jack up the price of nearly everything that moves in the united states with a 9 percent national sales tax on all new purchases and services. Herman cain supports abolishing the irs and imposing a fair tax which, according to experts, would mean a tax cut for the wealthy and an increase for the middle class. The 999 plan was a tax proposal that was a centerpiece of herman cains 2012 campaign for the republican partys nomination for president of the united. Herman cains 999 tax plan is it really that simple. His solution benefits both the taxpayers and the government. The business tax in the cain plan bears no resemblance to the present corporate income tax. The idea of replacing the federal income tax with the fairtax is gaining grassroots support and momentum across the country. An army of davids, written by herman cain and rich lowrie, was. Apr 04, 2019 he is best known for his 999 tax policies that were not actual policies and were never fully fleshed out. And herman cain s national sales tax, by the way, is one of the most regressive taxes out.
Herman cain announced today in detroit, michigan that his empowerment zones would create opportunities for the poor to save under 999. Herman cain has made his 999 tax plan the centerpiece of his gop presidential campaign. Most families would pay a flat 9 percent income tax. And while cain is busy pushing his 9 percent tax plan, he has yet to. Step two would be to repeal the personal income tax altogether. Cain has written five books, two of which published during his current. Thank you for being with us because you know we are going to tell you the truth. The figures for income taxes and the sales tax are higher than but roughly in the same ballpark as estimates from independent experts. A number of commenters want to know what i think about herman cain s 999 tax plan. During the republican primary, he proposed his 999 flat tax plan, which many criticized as more burdensome to the working class than the rich, and suggested jokingly that the border between u. Trump to add herman 999 cain to disastrous list of totally. Herman cain announced his tax plan, referred to as 9 9 9, in early october 2011. Cain s 999 plan is actually only a twoyear transitional proposal for eventually eliminating the income tax and replacing it with a higher national sales tax that cain and supporters of the. Essentially, cain proposed a 9% personal income tax, a 9% federal sales tax, and a 9% corporate tax, but there were no studies done that explained how they would affect the u.
Herman cain is a candidate being tested for the first time, and his lack of experience can be seen in missteps as he confronts questions about his tax plan. The plan would replace the current tax code with a 9% personal income tax, a 9% federal sales tax, and a 9% corporate tax. Does the herman cain 999 tax plan have a fatal flaw. Fox distorts impact of cains 999 plan on lowincome. Politifact the facts about herman cains 999 tax plan. Herman cain 999 tax plan herman cain, unwitting vanguard.
Oct, 2011 already herman cain is moving somewhat in this direction with his 999 plan, which he says is a combination of both flat tax and fair tax ideas. When politicians buy their own books the new yorker. Former godfathers pizza ceo herman cain is running for president as. On taxes and fences, herman cain stumbles a bit the new. Oct 18, 2011 2012 republican presidential candidate herman cain signs 999 hands, a reference to cains proposed tax overhaul, during a book signing in the villages, florida, wednesday, october 5, 2011.
Herman cain, the former pizza company executive who ran for the 2012 republican presidential nomination, is being considered by president donald trump for. Oct 31, 2011 republican 2012 presidential candidate herman cain talked about his 999 tax plan, which calls for a 9 percent business tax, a 9 percent personal income tax, and a 9 percent national sales tax. They want everyone to pay that flat tax whether they can afford it or not. Federal income taxation, eighteenth edition bankman. The plan, cain says, would replace the current federal tax system with a nine percent business tax, a nine percent personal income tax and a nine percent national sales tax and would lead to job creation in the u. Sep 27, 2011 praised by supporters for both its simplicity and its specificity, cains plan drops the current 35 percent corporate tax rate to 9 percent, swaps the 6bracket personal income tax system for a. The 999 plan was a tax proposal that was a centerpiece of herman cains 2012 campaign for the republican partys nomination for president of the united states. Tax experts say the plan would most likely cut taxes for the rich and. The plan called for the replacement of all current taxes, such as the payroll tax, capital gains tax, and the estate tax, with a 9% personal income tax, 9% federal sales tax, and a 9% corporate tax. It would reform federal tax code, involving a 9% flat tax rate on individuals and businesses, as well as a national retail sales tax. Rich lowrie talked about 2012 republican presidential candidate herman cain s 999 tax proposal to replace the current federal tax code, which he. Were gonna give you the facts because we want you to be better informed and inspired to help make this a better united states of america, especially at the ballot box. California his platform was known as epic by replacing the sales tax and most property taxes with an income tax pitched at the wealthy and a.
Cain grew up in georgia and graduated from morehouse college with a bachelors degree in mathematics. Importantly, it gets the united states to a tax system solution which is equal for the taxpayers and efficient for the government. Oct 14, 2011 mr cain has based his political strategy around the simplicity and effectiveness of a tax plan where u. Tax experts say the plan would most likely cut taxes for the rich and increase the burden on. He stressed the plan is revenue neutral and would generate more income as businesses grow. In july 2011, an advisor suggested the name the optimal tax for the cain campaigns tax policy plan. The difference between steve moore and herman cain, and some other economists today, is that moore and cain understand very well that big tax increases, a worldwide tariff war, socialistic. This essay analyzes the components of the 999 plan. He describes it as a sweeping and necessary remake of todays unpopular us tax code a revamp that would eliminate the current capital gains, payroll, and estate taxes. Republican presidential candidate herman cain is surging in the polls. Cains flat 9 percent income tax also would replace payroll taxes, which all workers pay and that fund medicare and social security, and would end the estate tax, which is a tax on inheritances. The gop frontrunner was involved in a brouhaha with georgia over his 2006 state income taxes that lasted until late 2008. It is my understanding that the poor would basically be exempted from the 9% personal tax in the 999 plan but would continue to contribute to the federal government through the 9% sales tax.
Oct, 2011 by almost any measure social, political, economic, logical herman cains 999 tax plan is nuts, nuts, nuts. Trump to add herman 999 cain to disastrous list of. His new book released last week is entitled, this is herman cain. Cains three plus three model of leadership fifteen years before the 999 tax plan is about three critical qualities a leader must possess, and three critical things a leader must do. Washington herman cain, former ceo of godfathers pizza, touts his own business experience in his quest for the republican nomination. Herman cain signs a copy of his new book for supporter mary wargula, of dunwoody, ga. Herman cains plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax and substitute. He proposes replacing the current system with a 9 percent flat income tax, a 9 percent national sales tax and a 9 percent corporate tax. Herman cain may have based presidential bid around his 999 tax plan, but some of his other numbers may not be adding up. Stephen moore, herman cain and the great depression. Oct 10, 2011 lets dispense straight off with the obvious fact that herman cains 999 plan is another long drink of the same patent medicine steve forbes used to peddle with his flat tax one of those. Herman cains 999 plan gets a closer look republican presidential candidate herman cain is surging in the polls. The tax would apply to gross sales less dividends paid and all purchases from other companies, including investment goods. Oct 05, 2011 but gop audiences are responding to cains 999 tax plan.
If you watched tuesday evenings gop presidential debate, you heard a lot about herman cain s 999 plan. Herman cains 999 plan raises taxes on the poor mother. Herman cains surprising rise to gop frontrunner the. Even the bill in 1861 would have only impacted those above poverty level. The herman cain show by wj another boring democratic. Oct 11, 2011 herman cain s 999 tax plan when cain surged to a more prominent place in the republican field and discussion of his 999 tax plan began surfacing, i, along with various others in my field, started getting phone calls from the press about it. Its 1996 all over again for herman cain, whose 999 plan bears striking similarities to the illfated flat tax proposal republican presidential candidate steve forbes proposed 15 years ago. Political and economic analysis of a flat and fair tax under new legislation in the u.
May 05, 2011 herman cain supports abolishing the irs and imposing a fair tax which, according to experts, would mean a tax cut for the wealthy and an increase for the middle class. She is the author of public finance in theory and practice. Republican presidential candidate herman cain s 999 tax plan was the centerpiece of tuesdays postbloomberg debate. Herman cain grew up in georgia with wonderful parents and little else. Under herman cains tax plan, your taxes will increase. Herman cain s 999 plan includes a personal income tax, a business tax, and a sales tax, all at flat rates of nine percent. Herman cain getting tougher scrutiny from gop sfgate. Herman cains catchy 999 tax overhaul system is gathering major supporters as the former pizza magnate consolidates his position at the top of the republican field in the race for the white house. Cain s 999 plan would cut taxes for the rich, raise taxes for almost everyone else herman cain s 999 tax plan would result in a massive tax cut for nearly all of the highest earning americans and a steep average tax hike for everyone else, according to a new tax policy center analysis. His tax solution, the 999 plan, demonstrates that he understands both.
Herman cain born december, 1945 is an american politician, business executive, syndicated columnist, and tea party activist. Presidential candidate herman cain has proposed replacing current laws income, payroll and estate taxes with his 999 plan a 9 percent individual flat tax, a 9 percent business flat tax, and a 9 percent sales tax. Oct 26, 2011 herman cains only taxrelated beef isnt with the federal tax code. Mitt romneys economic plan has 59 points and is bound into a 161page book. How herman cain s 999 plan would change your taxes. Republican 2012 presidential candidate herman cain talked about his 999 tax plan, which calls for a 9 percent business tax, a 9 percent personal income tax, and a 9 percent national sales tax. Even herman cain did not foresee his sudden rise to frontrunner status in the battle for the gop nomination. Herman cain has been getting a lot of attention lately, not least for his 999 tax plan. Praised by supporters for both its simplicity and its specificity, cain s plan drops the current 35 percent corporate tax rate to 9 percent, swaps the 6bracket personal income tax. Oct 11, 2011 this would increase their cost of living by 9 percent while, at the same time, the poor would pay income taxes. Herman cain s plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax and substitute three taxes imposed at a 9 percent rate. Cut the personal income tax to 9 percent, the current corporate income tax from 35 to 9 percent and impose a new 9 percent national sales tax. This article is part of a series about herman cain political positions presidential campaign 2012. Apr 15, 2019 the difference between steve moore and herman cain, and some other economists today, is that moore and cain understand very well that big tax increases, a worldwide tariff war, socialistic.
And then he adds a new levy a national retail sales tax on top of it. Already herman cain is moving somewhat in this direction with his 999 plan, which he says is a combination of both flat tax and fair tax ideas. Holley ulbrich is alumni distinguished professor emerita of economics at clemson university and a senior scholar at the strom thurmond institute. Herman cain 2012 republican presidential candidate voting. Will appointment of gold standard proponent herman cain. Oct 18, 2011 cains 999 plan would cut taxes for the rich, raise taxes for almost everyone else herman cains 999 tax plan would result in a massive tax cut for nearly all of the highest earning americans and a steep average tax hike for everyone else, according to a new tax policy center analysis. Oct 17, 2011 herman cain is the only candidate for president who has laid out a tax plan that fully resolves the existing plague of the federal income tax system problem. President trump recently appointed former republican presidential candidate herman cain to the last open slot on the federal reserves board of governors. Mr cain has based his political strategy around the simplicity and effectiveness of a tax plan where u. While its relatively simple to predict his income, its harder to know how much herman has spent over the years. May 02, 2012 cain, a tea party movement favorite, has ambitious plans for taxes and spending, replacing the current tax system with his 999 forumla. Trump says he wants herman cain, former pizza executive, for. New york cnnmoney under herman cain s 999 tax reform p.
Herman cain 999 tax plan herman cain, unwitting vanguard of. But while most people remember cain as the former ceo of godfathers pizza and the developer of the 999 plan 9% personal income tax, 9% federal sales tax, 9% corporate income tax, far. Herman cains plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax and substitute three taxes imposed at a 9 percent rate. Cain s 999 tax plan calls for a complete overhaul of the current federal tax code, and it would replace the code, eventually and only temporarily, with three taxes a 9 percent income. Close to 1 million people work in the tax preparation business that perry and cain want to decimate. Starbuckss stateless income planning tax notes, the better base case tax notes, herman cains 999 plan tax notes, and tax expenditure.
Republican presidential candidate herman cain touts a 999 tax. He was also plugging his latest book, this is herman cain. Apr 04, 2019 the proposal called for scrapping the existing tax code and replacing it with a flat 9 percent income tax, a 9 percent business tax and a 9 percent national retail sales tax. He describes it as a sweeping and necessary remake of todays unpopular us tax code a revamp that. The facts about herman cains 999 tax plan politifact. Nov 02, 2011 rich lowrie talked about 2012 republican presidential candidate herman cains 999 tax proposal to replace the current federal tax code, which he helped write. Continue to the next page to see herman cain net worth, estimated salary and earnings. Paul ryan and ronald reagans economic guru art laffer both expressed. Starbuckss stateless income planning tax notes, the better base case tax notes, herman cains 999 plan tax notes. Oct 12, 2011 herman cain has made his 999 tax plan the centerpiece of his gop presidential campaign. All candidates publish books and they offer them as premiums to donors, but most candidates arent buying them from their own companies, said bill allison.
Ryan, laffer boost cains revolutionary 999 tax plan. Cains tax plan is flatter hes proposing a 9 percent personal tax, a 9 percent business tax and a 9 percent federal sales tax to make up for the decreased revenue. Just before last nights debate, an analysis of herman cain s 999 tax plan was released that was, in a word, devastating. A former ceo of godfathers pizza, cain s positions on samesex marriage abortion, and other social issues place him on the hard core, far right wing.
He now serves as a motivational speaker and has authored books on. Rich lowrie, financial planner behind herman cains 999. Its a book proposal on wheels, a traveling resumebuilder for the inevitable herman cain hour on the fox news channel. Rich lowrie heard herman cain speak at a club for growth conference nine years ago and introduced himself afterward. Destined to become a classic, this unique book by herman cain, ceo and coowner of godfathers pizza. Americas history with the flat tax cnn political ticker. One thing led to another, and after the unknown cain launched a longshot. Cain s father worked three jobs because he wanted his family to have more opportunity. Cain claims his proposal is a bold plan to grow this economy. Bruce bartlett critiques the plan in the new york times today, and he. Cain s 999 tax plan draws interest, doubters the republican presidential candidate proposes a flat 9 percent income tax, corporate tax and national sales tax. Did herman cain take 999 tax plan from simcity video game. And cains 9 percent flat income tax appears to be flatter than even the flattest of the.
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