It's worth noting that Americans would lose 9% of their retirement savings, as they spend those savings during retirement, due to Cain's 9% sales tax.
Nice cherry pick.
Sales taxes hurt retirees / bums on welfare. Income taxes hurt working folks. It all depends on whose ox is being gored.
But wouldn’t the income tax on the withdrawals be a lot lower?
That transitional effect applies to anybody who currently has savings, not just retirees.
Neverthless, we ought to outlaw income taxation altogether at all levels of government, fund the government via sales taxes, and require that the budget stay in balance. That would make it a lot harder for government to grow out of bounds, since the debt ceiling would be zero and not raisable, and all the voters would feel the impact of revenue raising.