Who is Herman Cain and what is 9-9-9?
photo by Gage Skidmore
If politics sometimes enters your conversations, you’re going to have to know about the latest Republican candidate of the hour known as Herman Cain. Keeping things short, Cain is a Republican candidate for the 2012 presidential election, and he is also the former CEO of Godfather’s Pizza, a national pizza chain. Currently, Cain is leading in some polls solely on the strength of his simplistic 9-9-9 proposal to overhaul the entire tax code.
Basically, the 9-9-9 refers to Cain’s desire to completely restructure the tax code so that everyone pays a 9% income tax, 9% corporate tax, and a 9% national sales tax. The results are obvious: many people would pay much less in income taxes, but everyone would pay much more in purchases. Cain chose “9″ as his magic number because he says that his research shows that the numbers are “revenue neutral” compared to our current confusing tax rates.1 That part of the plan can be debated ad nauseum, as can the idea of what constitutes a “fair tax” – does a fair tax mean a flat tax, does it mean a fixed rate for everyone over a specific income level (to avoid being tax on income used for necessities), or does it mean something entirely different to you?
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Politics often makes for a spirited, if not violent, topic at the dinner table, and with the Republican primaries approaching along with a presidential election down the road, there will be plenty to debate.
Read on:
WashingtonPost.com – Herman Cain tests how far a campaign can go with few traditional strengths
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