Written by Jason Garrison
Editor’s Note: The following article is editorial in nature and content. This editorial represents the author’s research, opinion, and understanding of Hermain Cain and his proposed 9-9-9 plan. This editorial does not necessarily represent the opinion of the College Conservatives Maranatha Chapter.
If you’ve been watching the news lately, you’ve seen the name Herman Cain.
If you’ve paid attention, you’ve heard about his 9-9-9 tax policy.
The Good: Cain is a dark horse candidate making his way to the top of the Republican straw polls—trailing only behind Mitt Romney http://bit.ly/hB1z4U). Cain is a 67-year-old, African-American heralding from the great state of Georgia. He’s known as an extraordinary businessman and leader. His accomplishments are amazing— his business track-record ranges from working his way up to becoming the CEO of Godfather’s Pizza to saving the same company from imminent bankruptcy. He’s had experience in banking as an advisor to the Federal Reserve System and has served as chairman of the Kansas City reserve bank. Currently, Cain is involved in a community organization while traveling across the nation as the key note speaker for a myriad of leadership conventions.
The Bad: In one sentence: The 9-9-9 Plan. This policy is hot off the press and, in my opinion, a red flag to potential supporters. Almost everyone in America agrees on one thing: the current tax system—a graduated income tax where you pay a higher percentage the more you make —is flawed and in need of serious reform. Cain’s policy calls for a 9% tax across the board: 9% corporate tax, 9% income tax, and 9% consumption tax. The policy is more complex than that, but let’s focus on the basic idea. While many are attracted to Cain’s tax policy on the surface, a closer look shows some serious problems. A main issue is additional state tax. Not only are Founders rolling over at a proposal giving the federal government higher tax control but also implementing 9% consumption tax means adding 9% to whatever a state has determined their tax rate to be. Example: Illinois’s sales tax is 10%. 10% + 9% = 19% tax on everything purchased in Illinois. Most states constitutions also include a percentage of income tax withheld. So in addition to a 9% + consumption tax—many states will also withhold 13-17% of a household’s income.
Yes, Herman Cain is politically conservative, charismatically engaging, and a great leader—but the only way he is getting my vote is if he kicks the 9-9-9 plan to the curb.