September 16, 2021

You’re Not Alone If You Think Herman Cain’s 9-9-9 Tax Plan Is a Gimmick

At a minimum, the Cain plan is a distributional monstrosity. The poor would pay more while the rich would have their taxes cut, with no guarantee that economic growth will increase and good reason to believe that the budget deficit will increase. Even allowing for the poorly thought through promises routinely made on the campaign trail, Mr. Cain’s tax plan stands out as exceptionally ill conceived. [NYT via TaxProf]

At a minimum, the Cain plan is a distributional monstrosity. The poor would pay more while the rich would have their taxes cut, with no guarantee that economic growth will increase and good reason to believe that the budget deficit will increase. Even allowing for the poorly thought through promises routinely made on the campaign trail, Mr. Cain’s tax plan stands out as exceptionally ill conceived. [NYT via TaxProf]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Exposure Drafts: According to Circular 230 You Do Not Have to Disclose When You Outsource Tax Work to Your Cat

Exposure Drafts holiday cards are now available for purchase through Rubook Creative. Latest Accounting Jobs–Apply Now: TAX DIRECTOR OR PARTNER Private Client Services (Boston, Wellesley, or Westborough with flexibilit Tampa, FL Posted 12 hours ago Partnership Tax – Indirect Tax Senior Associate Tampa, FL Posted 12 hours ago USA – Tax – Transaction Economics Group […]

Where Does Janet Yellen Want to Be Taxed?

Presuming that Janet Yellen, our current secretary of the Treasury, lives in California, her marginal tax rate might be as high as 13.3%. That’s a little scary for those of us living here in Maryland. Good thing she knows how to handle finances. For that kind of tax rate she might easily be persuaded to […]