Cain Vows to Keep 9-9-9 Part of GOP Presidential Race
by AccountingWEB on
By Deanna C. White
Former presidential candidate Herman Cain may not have been on the dais for the recent Republican debates in New Hampshire or plying the voters in South Carolina, but he recently proved he still plans to be part of the political discussion in the GOP campaign.
Earlier this month, Cain announced that, despite the fact he is no longer on the GOP ballot, he will continue to take his 9-9-9 tax reform and economic recovery plan to the public through his newly formed "Solutions Revolution" bus tour and media blitz.
"The biggest comment I got when I ended my candidacy was to keep 9-9-9 alive," Cain recently told Sean Hannity of Fox News. "That's what this is about, and I'm going to keep it alive with what I'm calling Cain's Solutions Revolution."
According to his new website, Cain says he's still trying to revive an American "economy on life support" by keeping his 9-9-9 plan in the forefront of the minds of voters and members of Congress prior to 2012 Election Day.
"The strategy is straightforward and simple," Cain's statement reads. "We will mobilize citizens by congressional districts to obtain commitments from candidates running for Congress before they get elected to cosponsor or vote for the 9-9-9 legislation."
According to statements issued in 2011 prior to Cain's departure from the GOP race, his 9-9-9 plan would effectively dismantle the current U.S. Tax Code and replace it with a 9 percent flat tax on businesses and individuals as well as a 9 percent national sales tax.
Cain argued the plan would drive production to stimulate the economy and unite disparate tax camps, such as "income taxpayers and payroll taxpayers" and "flat-taxers and fair-taxers."
Cain's 9-9-9 plan would:
- Tax all businesses at 9 percent on their gross income, reduced by purchases from other businesses and dividends paid.
- Tax individuals at 9 percent on their gross income.
- Impose a 9 percent national sales tax.
- Eliminate taxes on repatriated foreign profits.
- End the payroll and death tax.
- Feature zero taxation on capital gains.
- Eliminate double taxation of dividends.
- Preserve the individual deduction for charitable donations.
- Launch "properly structured" empowerment zones to revitalize inner cities.
- Eventually replace individual and corporate 9 percent income taxes with the 23 percent fair (sales) tax.
- End the IRS "as we know it."
Today, Cain says his 9-9-9 "revolution" will "partner with like-minded organizations and use media, rallies, bus tours, and speaking opportunities" to promote the mission of making 9-9-9 the "new law of the land" to heal an America "abused by a broken tax code."
Cain has also hinted he will make an endorsement in the GOP presidential race on January 19 at the Southern Republican Leadership Conference just days prior to the South Carolina primary; however, he is still playing coy as to whether he will support a specific GOP candidate. He also continues to suggest his endorsement will be "unconventional."
In the meantime, the former GOP frontrunner, whose campaign was sidelined by allegations of personal scandal, vows he will not go down without an adamant and voluble fight on tax and economic reform.
"I will not be guilty of doing nothing," Cain said.
For more information on Cain's Solutions Revolution program, visit www.cainconnections.com.
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2 weeks 3 days ago by claudilocks