It is highly unlikely that --a candidate who admits he’s never held office---will make the Oval his first.? But whichever side of the soapbox (or pizza box) you favor, it’s hard not to like him.? Many discount Herman Cain, but don’t invert into the .
When Cain intones that our tax code has become “ ," what tax lawyer can argue with his fervent imagery yet plainspoken truth?? Mr. Cain may be guilty of hyperbole, but you have to admit our tax system has spun out of control.? It’s like a pizza on a centrifuge, with all the sauce and toppings spinning off to smack against the walls.? It makes an interesting (if edible) Jackson Pollock, but it’s still a mess.
Some have questioned the provenance of Cain’s , which proposes replacing our current bellicose, bloated idiot of a tax system with a 9% corporate tax, a 9% personal income tax and a 9% national sales tax.? He argues that this simple plan would revive the economy and promote growth.? Some project it would collect as much revenue as our current system, and that its simple ingredients would be easy for everyone to swallow.? Like tomatoes, cheese and dough.
Some liken Cain to an early , who called for a flat tax in 1995.? Forbes seemed to have done well (if temporarily) because of his tax plan, but Cain clearly was popular before announcing his.? In fact, for all its catchy and clever mass marketing appeal, the Cain plan is unlikely to be palatable to vast armies of voters.? Many appear already to be convinced that any tax with low rates will be regressive and hurt them disproportionately.
Still, it sure is refreshing to have a pizza magnate like Cain throw it up in the air, whirl it around like a showman and see what sticks Pollack-like to the wall.
Highlights of Cain's 9-9-9 Plan
refers to these proposed tax code changes:
For more, see:
Robert W. Wood practices law with , in San Francisco.? The author of more than 30 books, including Taxation of Damage Awards & Settlement Payments (4th Ed. 2009, ), he can be reached at .? This discussion is not intended as legal advice, and cannot be relied?upon for any purpose without the services of a qualified professional.
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