2012

Can Cain Back His 9-9-9 Plan?

Herman Cain will no doubt face tough questions at tonight's Republican primary debate, and the Atlantic’s Derek Thompson has a few he'd like answered. First of all, what does the candidate say to tax experts who predict his 9-9-9 tax plan actually creates a 27 percent payroll tax without the opportunity for exemptions? Also, was it his intention for his plan to lower taxes for the top income bracket while raising them for lower income households? Cain has claimed the 9-9-9 plan is a step in the direction of a Fair Tax—streamlining personal and corporate income taxes—but he's made it all but impossible to alter by proposing to require a two-thirds majority in Congress to amend the plan. What’s up with that? Look out, Mr. Cain: the wonks are coming for you.