bobbyw24
10-19-2011, 06:05 AM
Republican Rep. Ron Paul of Texas said Tuesday on CNN that businessman Herman Cain’s 9-9-9 tax plan was “dangerous” and would place a burden on the poor.
Cain’s plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax, and replace them with a 9 percent national sales tax, a 9 percent business flat tax, a 9 percent individual flat tax.
“What 9-9-9 does is compromises in the worst way,” Paul said before the CNN Western Republican debate. “He gives you a sales tax and a flat tax. And opens up the door to a value added tax.”
“I think it’s very, very dangerous and the way I see it, I don’t think it is going to tax those who have bigger incomes. It’s a regressive tax. People are going to get a 9 percent sales tax and they don’t even have jobs right now? So I think because it is so regressive, if we ever came close to it, it would be very, very unpopular.
http://www.rawstory.com/rs/2011/10/18/ron-paul-cains-9-9-9-tax-plan-too-regressive-to-be-popular/
Cain’s plan would eliminate the current individual income tax, corporate income tax, payroll tax, and estate and gift tax, and replace them with a 9 percent national sales tax, a 9 percent business flat tax, a 9 percent individual flat tax.
“What 9-9-9 does is compromises in the worst way,” Paul said before the CNN Western Republican debate. “He gives you a sales tax and a flat tax. And opens up the door to a value added tax.”
“I think it’s very, very dangerous and the way I see it, I don’t think it is going to tax those who have bigger incomes. It’s a regressive tax. People are going to get a 9 percent sales tax and they don’t even have jobs right now? So I think because it is so regressive, if we ever came close to it, it would be very, very unpopular.
http://www.rawstory.com/rs/2011/10/18/ron-paul-cains-9-9-9-tax-plan-too-regressive-to-be-popular/