It's very one dimensional to talk about only the rate and not consider the overall economic impact. Rate and revenue are two different things and one does not necessarily drive the other which is why lower rates drive higher tax revenues.
“You don’t foresee large corporations bringing back ALL of their foreign revenue when they realize they don’t have to pay taxes on it?”
Having worked as a tax consultant for Big 4, I can guarantee you they will onshore revenue, and fast. Cain has been in these discussions in the corporate world and he knows darn well that our tax code is part of what is killing us.
The problem is that most “conservatives,” even here on FR, will be upset if the “poor” actually have to pay *any* tax whatsoever. Right now, if you don’t have a job, you get income tax “refunds” and the only tax you pay are state and local sales and use taxes. Yeah, those people are going to lose. Those people are going to vote Obama anyway.
Some who work and who pay *very* little in income tax will pay more. It’s about making taxes more fair across the board. If some freepers and the American people are too stupid to understand that this is why our system stinks, then they deserve the crappy system we have. The rest of us need to get off our bums and stop letting idiots, bums and the corrupt run our tax and economic system.