Dial 9-9-9 in an emergency!

For the benefit of my foreign readers, '999' is the British telephone number to call in an emergency.  It is also the basis of Mr. Herman Cain's new tax proposal which he, as a candidate for the Republican nomination, has placed before the American people for consideration.  Thus, it, too, may be considered an 'emergency' number given the dire straits of the American economy!

In essence, he proposes to toss the current Federal income tax laws, which I am told run to several thousand pages, into the Potomac.  (Er, does that go through Washington?  Geography was never my strong point, along with several other things - where was I?)  Oh, yes, he proposes three flat taxes; 9% on national sales, 9% on incomes and 9% on corporate income.  I assume that there are no exceptions because the minute politicians start introducing this exception or that exception you are soon back to the world of crony lobbyists slithering and oozing their way across the halls of Congress.

In principle, I applaud Cain's proposal.  I assume, as a former chief executive of a multi-zillion company that he, or some expert, has done the maths and that it will produce sufficient money for America to pay its way - although not necessarily the way of the drunken sailor it has so closely resembled in recent decades!  Flat taxes have their faults, I'm sure, but compared to the crookery and jobbery involved in multi-level taxations schemes they are worth it.  And just think, thousands of tax-dodge advising accountants and lawyers would be out of work.  Shame!

 

Comments

[Whyaxye]

What is meant by "national" sales? It that just a tax on sales within the U.S., like the old "purchase tax"?

And has anyone suggested a flat tax system here? I sometimes wonder how bad things have to get with us before anyone even mentions slaughtering a few holy cows.

[David Duff]

I'm not sure, I haven't had time to investigate.

Also, I don't think anyone of political stature is pushing for a flat tax but I wish they would.

[Hank]

David

Washington is on the lef bank of the Potomic.

Somtihng like a flat tax is a good idea. But too many people have a vested interest in the "Accountants and Lawyers Full Employment Act" A K A the Income Tax Code.

[David Duff]

Quite so, Hank, we have the same thing 'over here'.