Cain's Proposed 9-9-9 Tax Policy

http://www.csmonitor.com/USA/Elections/President/2011/0930/Herman-Cain-s-999-plan-long-overdue-tax-reform-or-job-killer/(page)/3

Republican presidential candidate hopeful Herman Cain proposes an example of regressive tax policy that is likely to shift the burden of paying taxes disproportionately to lower income individuals. Those with lower incomes are likely to have less cash assets that are be tax exempt under this plan, another benefit for the wealthy that are likely to save a greater percentage of their wages and therefore avoid taxes on that portion of their assets. This model seems to proposed for the sake of simplicity, to appear transparent to the public. However there does not seem to be much credibility or sound economic support to its ability to address the budget issues America is facing. Hopefully this candidate's proposal will be dismissed by the public for being a regressive and counter productive tax policy.