The Cain 999 tax simplification is attracting attention. Well, it should. In this political climate the major candidates have not been proposing anything bold, just the same phrases, party lines, and lack of answers to specific questions.
But, perhaps the 9-9-9 plan is too bold and as some critics are writing, lays the burden disproportionally on the 99%.
My counter proposal is just as simple, 6789:
- 6% – income on the 99%
- 7% – sales tax
- 8% – corporate tax
- 9% – income on the 1% rich
That is more equitable. Of course, economists and mathematicians can tweak the numbers. Most importantly, these numbers should be part of a feedback system. Why is everything “fixed” when the world is dynamic?
Based on economic performance and quality measures, the whole sliding scale could be shifted up or down. For example, in an overheated economy it could be shifted up, and in a difficult period, like now, it could be shifted down, such as, 5-6-7-8, etc.