4 Answers

 Sorry, I only know about the 666 plan.

Its a piece of bull shit produced by Herman Cain that poses as a tax plan. Just one part, the part about enacting a 9% federal sales tax, on top of the other sales taxes people pay,  would cripple the middle income americans and the poor. It also reduces the tax on the wealthy down to 9%.

Colleen

On top of or in place of?

It is a flat tax that he has already changed it to 9-0-9. It amounts to nothing but a value added tax. It would be Capital Gains, Business, Employee taxed but it isn't going to work as it would increase inflation among other things. Gasoline would cost 30 cents a gallon more if it were implemented today.

 Check out https://www.hermancail.com/999plan

Phase One

Our current economic crisis calls for bold action to truly stimulate the economy and Renew America back to its greatness. The 9-9-9 Plan gets Washington D.C. out of the business of picking winners and losers, using the tax code to dole out favors, and dividing the country with class warfare. It is fair, simple, transparent and efficient. It taxes everything once and nothing twice. It taxes the broadest possible base at the lowest possible rates. It is neutral with respect to savings and consumption,capital and labor, imports and exports and whether companies pay dividends or retain earnings.

9% Business Flat Tax

Gross income less all purchases from other U.S. located businesses, all capital investment, and net exports.Empowerment Zones will offer deductions for the payroll of those employed in the zone

9% Individual Flat Tax.

Gross income less charitable deductions.Empowerment Zones will offer additional deductions for those living and/or working in the zone.

9% National Sales Tax.

Unlike a state sales tax, which is an add-on tax that increases the price of goods and services, this is a replacement tax. It replaces taxes that are already embedded in selling prices. By replacing higher marginal rates in the production process with lower marginal rates, marginal production costs actually decline, which will lead to prices being the same or lower, not higher.

Economic Impact

According to former Reagan Treasury official Gary Robbins, of Fiscal Associates, the 9-9-9 Plan will expand GDP by $2 trillion, create 6 million new jobs, increase business investment by one third, and increase wages by 10%.

9-9-9 Plan: Summary

Removes all payroll taxes and unites all tax payersProvides the least incentive to evade taxes and the fewest opportunities to do soLifts a $430 billion dead-weight burden on the economy due to compliance, enforcement, collection, etc…Is fair, simple, efficient, neutral, and transparentEnds nearly all deductions and special interest favorsFeatures zero tax on capital gains and repatriated profitsExports leave our shores without the Business Tax or the Sales Tax embedded in their cost, making them world class competitive. Imports are subject to the same taxation as domestically produced goods, leveling the playing field.Lowest marginal rates on productionKills the Death TaxAllows immediate expensing of business investmentsEliminates double taxation of dividendsIncreases capital formation which aids capital availability for small businessesIncreased capital per worker drives productivity and wage growthFeatures a platform to launch properly structured Empowerment Zones to renew our inner citiesThe pro-growth, pro-job, pro-export economic policies of the 9-9-9 PLAN equals a strong dollar policy

Phase 2 – The Fair Tax

Amidst a backdrop of the economic renewal created by the 9-9-9 Plan, I will begin the process of educating the American people on the benefits of continuing the next step to the Fair Tax.

Ultimately replaces individual and corporate income taxesEnds the IRS as we know it and repeals the 16th Amendment