Stay updated with breaking news from Herman cain plan. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Opt for zero. and the other thing is there s no national sales tax attached to this plan which is a huge difference between what s about to be the perry plan and the herman cain plan and that was the one much talked about controversial point of the herman cain plan was adding that 9% federal tax to your retail consumption. all right, so we ll see how that stacks up and we ll see if maybe the cbo or somebody else wants to grade it on the side and see if enough revenue goes in there to change anything. how does that plan stack up against plans of other frontrunners? molly henneberg has a calculator and very smart math friend, very good at math, i should say, and more from washington. what did you come up with? anything? always, brian. good morning, brian. that s good news. gretchen and steve. rick perry is hoping this new economic plan that includes that flat tax proposal will give some gas to his campaign especially among conservatives who are intrigued or interested in the fl ....
23% consumption tax. in a business environment with zero corporate tax, if we don t, if the private sector doesn t create tens of millions of jobs in that kind of an environment, then, nothing will ever do that. jon: but what about the argument that if congress has the ability to regulate rates, you might start with a tax rate of 23% but pretty soon it is 28% or 35%? well, on that argument then, the criticism of a herman cain plan would be is that there are three, three notions to that. corporate tax, income tax, and a national consumption tax. so you have three-ways to get at it as opposed to one. the fair tax is revenue neutral, and so it is still involves cutting federal government spending by 43% to balance the budget. something i m also promising to do as president of the united states is to submit a balanced budget to congress. and i m promising to veto any expenditures that exceed ....
Zero federal tax, according to what we ve read so far in the wall street journal , it doesn t look like you would have to if you opted in for the same status quo. according to the perry plan. because one of the main complaints about the herman cain plan is it would raise taxes on lower income and middle class people. so there is a difference there between the two plans. and they also sewed up a lot of the loopholes if the flat tax goes through, even the 999 plan goes through so the president of the united states has his surrogates put out this rebuttal to the flat tax, governor perry put out, mitt romney did it about three weeks ago and you know about the 999 plan but in terms of the president s plan, i mean, he can feel very confident that he put out a plan that america embraces considering it s in pieces. the job got nowhere. we don t know anything about his tax reform idea and now as they go piece by piece through, it s been rejected. trade agreement has been ok but the other t ....