The campaign of Republican presidential candidate Herman Cain has launched a new video ad, as it seeks to combat the retired businessman’s recent plummet in the polls. The nearly six-minute video, titled “9-9-9 The Movie — Slaying the Tax Monster, touts the virtues of Cain’s 9-9-9 tax plan.
That plan calls for a 9 percent personal income tax, 9 percent corporate income tax, and 9 percent national sales tax.
“The federal tax code is an overgrown monster, but it’s not even a cool monster,” the video’s narrator says. “It’s a dorky, mechanical monster held together by a bunch of tattered red tape and driven around by squirrelly bureaucrats. The scary part is that we’ve been slave to something this ridiculous as long as we have.”
Story continues below the video.
So what would happen if Cain's plan replaced the current tax code’s 82,000 pages? “The economy would accelerate faster than Barack Obama on his way out of town,” the narrator says.
“We would add $2 trillion to GDP and create 6 million jobs. Business investment would increase by a third. Wages would go up 10 percent. At the same time, federal revenues would go up 15 percent, and we would never again have to spend the IRS recommended 37 hours filling out forms.”
Taxpayers spend about $431 billion each year just keeping up with the rules, the video says. “Greedy Uncle Sam has our wallets on a pretty short lease.”
Cain’s 9 percent sales tax would keep the prices we pay at the store about the same. “But now we know exactly when we’re being taxed, because taxation is directly tied to spending,” the narrator says. “We have a lot more control too.” And business competition will push prices down.
“The 9-9-9 plan is simple enough to vanquish ineffective bureaucrats that that lurk in the dark crannies of complexity, transparent enough to deter cronyism and fair enough . . . to level the playing field and keep the government from picking winners and losers,” the video says.
“For far too long we’ve been the hapless victims of a monstrously dysfunctional tax code. It’s time to throw that baby out with the bathwater, and then bleach the tub and then put in a sump pump to keep it from overflowing on us again.”
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