USA TODAY: The plan, which calls for a 9% income tax, 9% national sales tax and 9% corporate income tax, would create tax equality and stabilize federal finances, Cain said.
“And it’ll save all of us, collectively, $430 billion a year that we spend to fill out the stupid tax code — 9-9-9,” Cain said at a speech in Washington last week.
Not so fast, say tax experts from all parts of the political spectrum. While Cain’s plan has an appealing simplicity to Americans frustrated with the nation’s labyrinthine tax system, it would dump a much heavier tax burden on low-income citizens… (more)
