Thursday, October 13, 2011

Herman Cain's 999 Plan...the details + Update

I was curious about Herman Cain's 999 Plan...so I Googled it and this is what I found...
Read it here.
And This Update... Amanda Terkel, a reporter for The Huffington Post, finds that Herman Cain's "9-9-9 Plan" looks a lot like the default tax structure in the computer game SimCity 4. She writes: Long before Cain was running for president and getting attention for his 999 plan, the residents of SimCity 4 -- which was released in 2003 -- were living under a system where the default tax rate was 9 percent for commercial taxes, 9 percent for industrial taxes and 9 percent for residential taxes. When asked about similarities between Cain's plan and SimCity's default tax rates, Cain campaign spokesman JD Gordon replied, "Well, we all like 9-9-9." Cain's plan would replace the entire federal tax code--income taxes, payroll taxes, capital gains taxes, etc.--with three 9 percent taxes on consumption, business income and personal income.

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