9-9-9…Not so Fine

October 13th, 2011 at 6:05 pm

 Going on the Larry Kudlow Show in about an hour to debate Candidate Herman Cain’s 9-9-9 tax plan…check it out—there’s a lot of solid analysis coming out on the plan, so the research pickings are pretty rich.  And coincidentally, “pretty rich” is exactly who this plan helps.

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6 comments in reply to "9-9-9…Not so Fine"

  1. davesnyd says:

    OK; but what if it were modified? Say, including estates, capital gains, and other unearned incomes? What if you included on the income portion a standard deduction of, say, $10K per person?

    Would that then turn it sufficiently progressive? Are there other options to do so?

    There’s a real appeal to a simplification of the tax code– especially if by simplifying, a reduction or elimination of the nooks and crannies in which the megarich hide their money can be made.

    • Jared Bernstein says:

      I think what makes the code complex is not the progressive schedule, so a flat tax has no obvious appeal to me. The complexities come from treating all kinds of incomes differently and piling on loopholes. So I’d keep a progressive schedule and simplify with a broad base and minimize differential treatment.

  2. Michael says:

    It hurts so bad to see smart people wasting their time on this crap.

  3. jack says:

    Thank you for being out there fighting the good fight. I hope that you can keep it up. But, I stopped watching CNBC back when it obvious that Goldilocks was a two bit tramp and Kudlow didn’t want to admit it. I occasionally turn it on. When I do I seem to catch it when things like Rick Santelli’s Tea Party comment comes across. Kudlow’s whole mustard seed catch phrase was especially sickening.

  4. perplexed says:

    Maybe 9-9-9 could work:

    9% Income tax

    9% VAT

    9% Wealth Tax

  5. Ken says:

    9-9-9 is a joke in my town.