The American People pay too much and get too little for their tax money.
But more people should pay more.
At least 50% of Americans do not pay an income tax, while the wealthiest among us are expected to shoulder a large amount of the tax base.
Rather than paying fast and loose with tax brackets, tax credits, subsidies, and formulas, why not institute the following:
9% corporate tax -- corporation which function in this country enjoy the economic securities of a stable nation with checked corruption and a working court system. They should pay a share of the upkeep.
9% national sales tax --across the board. Yes, even residents in Delaware and New Hampshire would have to pay a sales tax.
But one change in Cain's program would make the national sales tax palatable:
Abolish the federal income tax -- get rid of one 9. Individuals should not be penalized for making money. Working Americans who save, spend, and invest deserve the fullest freedom to dispense with their wealth as they see fit. More available wealth with drive up spending, rev up economic out put, and accelerate economic recovery.
Now, many would complain that there will not be enough revenue to pay the nation's bill. Start cutting spending automatically. 40% of spending in Washington is unnecessary to begin with. As for entitlements, with Americans taking home more pay in the paychecks every month, the government can then make the case for raising the retirement age or offering private accounts to current and future workers without scaring voters into believing that they will be forced to give up a stable retirement for themselves.
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