Letter to the Editor

BY DI READERS | OCTOBER 20, 2011 7:20 AM

SocialTwist Tell-a-Friend

Cain's plan: 9-9-9-0

Republican candidate Herman Cain has released a new tax plan that he calls the 9-9-9 plan (9 percent federal income tax, 9 percent corporate tax, and a 9 percent national sales tax). But his plan is really a 9-9-9-0 plan because under his plan the capital gains tax drops to 0. Capital gains are how the top 1 percent — the super rich — make their money.

His plan is a huge tax cut for the rich and a huge tax increase for the rest of us. The 9 percent sales tax is a tax increase over the current sales tax. So here in California, the sales tax would be 18 percent, not 9 percent. The 9 percent income tax is a flat tax with no deductions which is a huge increase for the lower middle class. And corporations that now control government and the super rich get a tax rate cut from 36 percent to 9 percent. Also, the plan won't bring in as much revenue as the current tax system, so the deficit will skyrocket.

Cain's 9-9-9 plan is just an election gimmick to try to trick people into voting for a system that will only empower the rich to take more from the rest of us.

Marc Perkel
Gilroy, Calif.

In today's issue:

comments powered by Disqus

Privacy Policy (8/15/07) | Terms of Use (4/28/08) | Content Submission Agreement (8/23/07) | Copyright Compliance Policy (8/25/07) | RSS Terms of Use

Copyright © The Daily Iowan, All Rights Reserved.