Yes. He is intelligent and he is a pretty good pitchman. But even Ronald Reagan wouldn’t be able to sell what Cain is selling.
Cain’s not selling 9-9-9. It’s DOA and will never pass either House. What he is selling is the Big Idea - radical tax reform.
He’s brilliantly projecting to the markets and the people who matter - the producers - that they can expect a president who will pull the shackles off them.
Huck, you crack me up.... I understand the hesitancy you have towards a national sales tax. I do as well. I highly doubt it would make it through congress to his desk.
As calculated for me, if my current income tax rate of 24% was dropped to 9% given last years sales receipts (yes i am a dork and budget crazily) I would have come out ahead by 1.34%. Not bad.
The only way I could truly support such a plan would be if it was legislated through the constitutional amendment process. A repeal of the 16th and replaced with the new plan locking the rates. This would never happen but the discussion is important.
I do think that the nature of the sales tax would make everyone have skin in the game. The lower 47% would be just as much against an increase than the 53% that pay taxes today. I also believe they may start voting differently because they would have skin in the game.