It is not a practical solution and will expand the tax base for future periods among other things.
Cain needs to handle this by saying it is a general outline proposal for discussion purposes with Congress which is where tax legislation originates. Point is we need to do something to insure a reduced level of taxation on profits from transactions that create economic growth and jobs.
Real problem is to get control of spending.
You can't afford to get into specifics about general tax legislation in the context of a political campaign. You can say, deduct dividends; or reduce the effective rate on cap gains; but you can't talk about restructuring the tax system other than in general terms because when you do, you will get picked part on the technical detail.
“Cain needs to handle this by saying it is a general outline proposal for discussion purposes with Congress which is where tax legislation originates.”
I’m concerned that he won’t, and it’ll become an albatross around his neck.