New York (CNNMoney) – As you may have heard, Republican presidential candidate Herman Cain has a tax proposal he calls the "9-9-9 plan."
He talks about it ... a lot. And he has generated a lot of attention for it.
In defiense of a 9% national sales tax did you notice Mr. Cain's "bad science" explanation of how 9-9-9 would not cause inflation, but instead cause prices to go down? Mr. Cain cited a hypothetical example of how there are "hidden", or "embedded" taxes in everything buy included a loaf of bread. He pointed out that taxes are currently charged at each step in the process of producing a loaf of bread and bringing it to market.
Mr. Cain cited taxes on the delivery man, the baker, flour producer, etc. He claimed that under 9-9-9 all of those taxes are currently being paid would go away, which result in a lower price to you. That is pure, simple hogwash, and a shameless attempt to pull the wool over the public's eyes.
Will those embedded taxes go away? Yes. But, Mr. Cain's crime is to pretend that nothing would take their place. Every link in the chain that brings a loaf of bread to market will simply be paying new taxes. If he was not playing all of us to be complete fools, then he was really telling us that companies would pay *no* taxes under his plan.
He is such a liar. His plan is to tax the poor more while protecting the rich. We are 99%. He is Koch brothers candidate. Obama/Biden 2012 and we give them veto proof Congress and Senate. Enough of soulless Republicans.
I think it is 499, because Little Caesar's Pizza is 499. This is double the price. o.k, Is this inflation, of 200%?
I would like the gutless lying right wing extreme press admit that 999 will bankrupt American, but will save Murdoch, Hannity, Limpbag, Kudlow, and billionaires a small fortune.