Herman Cain at CPAC
By Erick Posted in Special Events — Comments (2) / Email this page » / Leave a comment »
Herman Cain is one of the rising stars of the GOP. The former CEO of Godfather's Pizza and US Senate candidate from Georgia has taken CPAC by storm.
Cain, saying "America is a nation founded on hope, not doubt" says we must simplify the tax code and federal regulations. He is commited to the cause. This morning, Cain spoke at CPAC and said he would be working hard to simplify the code. Cain favors the "fair tax" a national sales tax. We'll be talking to him later today.
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Herman Cain at CPAC 2 Comments (0 topical, 2 editorial, 0 hidden) Post a comment »
I am curious what proponents of a national sales tax say to those who have worked hard their whole life to build a nest egg. First those individuals payed income taxes on their wages, then they payed taxes on the income from their savings. Now when they retire they would have to pay yet another level of taxes when they spend what is left. There is a basic question of generational fairness, for lack of a better term, relating to the transition between an income tax and a sales tax.
In addition, the transition would have to be managed very carefully to prevent shocking the economy with a significant drop in demand as the relative cost of saving money decreases and the cost of spending increases.
I prefer a flat income tax.
Craig
loved his GOP primary ad here in Georgia: "There's a difference between Johnny Isakson and myself and it's not just the color of... our eyes!"