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October 13th, 2011
06:27 AM ET

Will '999 Plan' equal tax relief?

CNN's Tom Foreman explains how Herman Cain's tax restructuring plan might work.

Filed under: 2012 election • Herman Cain • Tom Foreman
soundoff (7 Responses)
  1. Mary

    I was very disappointed in Tom Foreman's unbalanced reporting of Herman Cain's 9 9 9 plan. He obviously was trying to make voters afraid of this creative plan. First of all, he did not mention that the tax would ONLY fall on NEW items. When he said that POOR people would be worse off on the 9 9 9 plan I could not help but write you and declare my opposition to his unfair reporting of the facts. For one thing, poor people seldom buy anything new. Often they get their food from charity. So how is the 9 9 9 plan going to be WORSE for them???? What an idiot this man is...or else, he is just trying to sway the vote away from Cain to his favorite. I thought newsmen were supposed to be neutral....this man isn't; And I am ashamed of CNN for allowing this kind of reporting on their network. This is a reason why I prefer watching your competitor, whose name I won't mention but who you know is known for its honest reporting.

    October 15, 2011 at 7:14 pm |
  2. Marianne Granoff

    Does GOP candidate Cain's "999" tax proposal apply to stock purchases? Does it apply to buying a home? Does it apply to the purchase of raw materials or components by a business? Does it apply to the purchase of medical services and medical insurance? Does it apply to the purchase of vehicles (either by individuals or businesses?) Does it apply to purchases made on the Internet? Or are these "loopholes" going to remain in place?

    I doubt it will be popular with the GOP constituency, if so.

    October 13, 2011 at 5:55 pm |
  3. concerned voter

    No,Herman Cain's 999 plan does nothing for this economy and job crisis we are expeienceing in this country. It's a plan for sure but, not the right plan for this economy.

    October 13, 2011 at 2:13 pm |
  4. Louis Phillips

    Not really. With O% capital gains tax, the current inequities would be maintained. With a 9% federal sales tax on top of the current state and local sales taxes we would be looking at anywhere up to 12 to 15%. That hurts people earning $50,000/ year a lot more than those earninig $500,000/year. It is a lot easier to live on 91% of $500,000 than 91% of $50,000 for a family of 4.

    October 13, 2011 at 12:01 pm |
    • 999 will not work

      I would like to point out that people I have talked with are seeing the GOP party in Congress are just obstructionist! and were put in office on misguided principles that they told the general public. It is the sadist day to see follow Americans (congress) putting their political views before the American will. I'm not saying President Obama is 100% correct, but he is trying to create jobs and help whats left of the middle class become once again the ruling class and you know as well as I that the middle class made America Great when it prospered. "if a ship was crossing the ocean and the ship ran out of fuel because of a miscalculation or other problems that developed? and there is a destination waiting on the goods being shipped to survive, would you let the ship sink the people die because of you signed a paper saying under any circumstances you would not help in any way? That's what the Republicans are saying. They are obligated To HELP! They need to Shed the piece of toilet paper they signed to never Raise Taxes, They are just protecting the deregulations (DONE BY GOP) that caused the GREAT RECESSION OF OUR TIME and the BUSH GIVE IT ALL TO THE RICH PLAN, kinda like the old bush plan trickle down concept!
      And remember it was 3 OLD Republicans that started the great Recession of our time by ear marking 3 separate bills in congress that deregulated and removed the SAFE GUARDS put in place after the great Depression. And they were the Regulations keeping the CREDIT CARD CARTELS , MORTGAGE COMPANIES and BANKS SEPARATE! Its time to remove the fake Republicans. Put these regulations back in place and remove the Un- American Self Serving Republicans in Congress.
      Please excuse my spelling, I finished the 9th grade and got a GED and most of my life I did very well! (when the middle class ruled) As just a Blue collar worker.

      October 13, 2011 at 3:08 pm |
  5. Perk

    Obama just passed the Free Trade Act and what does that mean ? Now they're in discussion about taking sections of the American Jobs Act for passing.Get in there as a team Democrat and Republican political people ! All economic plans and Tax Reform on the table for review. The American people will let you know what's acceptable and what isn't.Politicians better be real sure to listen and don't forget who you work for.
    Occupy,support your school buildings falling apart across America and end the mandates on PL 107-110 NCLB ! Mom and dads across America are getting permits and renting antique Fire Trucks,wearing George Washington wigs,dark sunglasses and blasting the Blues Brother's via the Fire Truck speaker's ? Round em on up ! University students on the streets skipping class ? Who's paying for the extra police to cover all these protests ? Is that a section to be considered with the American Jobs Act ? Occupy go study and get your homework done ! School bells are ringing just like Wall Street and your behind better be in class ! Compare and Contrast all economic plans and Tax Reform holding politicians accountable for the best interests of American citizens. What do you think about the Fair Tax Act compared to the 999 Plan ?

    October 13, 2011 at 10:27 am |
  6. dan in albuquerque

    Cain offers no numbers because his accoutant doesn't know the revenue number. Some experts are saying it would create an annual revenue deficit. Besides, a 9% national sales tax rubs everyone the wrong way, especially republicans. If he, by some wild chance. becomes the nominee, his plan and extremely elitist attitude will mean total defeat.

    October 13, 2011 at 9:41 am |

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