Herman Cain: Lower Taxes for Rich, Tax the Poor's Food!

Image from source, ThinkProgress

Actually, Herman Cain's ludicrously simplistic 9-9-9 plan (OMG, what is that upside down?) would tax everybody's food, not just the poor. It would also lower the rich's taxes to 9%, while raising the poor's to the same number. But back to taxing the food. One of the 9s in there is a 9% national sales tax. On top of the state and local sales tax we already have. Here in Las Vegas, that would put the sales tax at 17.5% overall. That's on food, clothes, cars, appliances. . . How long do you think it would take for a black market on high ticket items to form?

If this lunatic manages to become President, and then manages to implement this plan (a highly unlikely scenario), I predict a mad burst of buying right before the tax goes into effect, followed by a sustained period of nearly zero purchase of high-ticket items.

[Excerpt]


Herman Cain: Tax Poor People’s Food To Finance Massive Tax Break For The Rich 

The centerpiece of former pizza czar Herman Cain’s presidential campaign is his “999″ plan, which would slash taxes on the wealthy, drive up deficits to the worst point since World War II, and force low-income Americans to pay a massive nine times their current tax rate. In an interview this morning with CNN’s Candy Crowley, Cain even said food and clothing would not be exempt from the 9 percent national sales tax he would put in place if elected president. Indeed, he said it would be “fair” for a poor person to pay as much in sales taxes as Crowley does. . .

Read more at: Think Progress