![]() It is based on the idea that the tax rate should not penalize people for being productive, and even an ardent supply-side sympathizer like me can’t complain too much about a 9 percent rate.Īnother key principle is the repeal of most forms of double taxation, which is why Cain’s plan gets rid of punitive provisions like the death tax and capital gains tax. ![]() ![]() If Cain wants a low rate, no double taxation and no loopholes, the flat tax has all the upsides and none of the downsides of the 9-9-9 plan.īut public finance economists generally like the flat tax for different reasons, most notably the pro-growth impact of lower marginal tax rates, the reduced tax bias against income that is saved and invested, and the elimination of inefficient loopholes.įor the same reasons, people should like Herman Cain’s 9-9-9 tax plan. ![]()
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