Debate after debate, Rick Perry kept saying he was coming out a plan for a flat-tax while criticizing Herman Cain’s popular 9 9 9 plan. After weeks of waiting and receiving nothing, Perry finally came out with a flat tax as part of his economic plan.
Now, unlike his immigration stance, this flat tax idea is very republican! Essentially it is raising the burden on the middle class while making it easier on the wealthy. Although I don’t think that the wealthiest people should pay substantially more in taxes, if they are able to why not put the burden on them more while letting some of the pressure of the middle to lower class.
According to President Obama’s advisors “many flat tax proposals also eliminate all taxation on capital gains and other investment income so that the wealthiest, who generate much of their income from investments, rather than work, see huge gains”.
Although it is hard to come up with a perfect tax plan that will bring our economy back, can’t these candidates at least come up with something remotely plausible and smart.
If we continue to take from the poor and middle class, the gap between the wealthy and the poor will continue to increase. The economy will continue to suffer if the gap between the wealthy and the poor continues to become larger.
Now, Herman Cain’s tax plan does not seem any better of an idea either. Whether that is because he does not seem to be able to explain it properly or if he simply just doesn’t understand it himself, I have not found very much good with his plan. It seems as if all other sources find that his plan will generate less revenue than more and he simply says they are wrong. To me it is not very convincing.
It seems that Herman Cain’s plan has managed to keep him at the top however, while Perry is still drifting lower and lower in the polls, dragging behind even Michele Bachmann in the recent Iowa poll. Now, what I do not understand is why so many people seem to support Herman Cain’s 999 plan, which seems to make no sense, and President Obama’s jobs bill makes complete sense and cannot get passed. The buffet plan seemed to make so much sense, while Herman Cain just continues to repeat the same answers with his 999 plan that just raise more questions.
Website used for quotation above:
Pizza explanation of Herman Cain’s Tax Plan
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