Herman Cain's Commentary Archive 2009-2012

August 22, 2011

Mr. President, you’re fired! (But if you refuse to leave, here’s an economic plan for you)

August 21st, 2011
by Herman Cain

I realize that only the voters can fire President Obama in November 2012. But his performance and his potential plan for serious economic growth are not likely to change anything. The board of directors would have no choice.

But America has a choice. Elect Herman Cain president in 2012.

Here’s Phase 1 of my economic growth plan. It’s called the 9-9-9 plan.

A 9% business flat tax. Gross income less all investments, all purchases from other businesses, and all dividends paid to shareholders.

A 9% individual income flat tax. Gross income less charitable deductions.

A 9% national sales tax. This significantly expands the tax base, which helps everyone.
This plan has the following advantages:
  • It is fair, revenue-neutral, transparent and efficient.
  • It puts zero tax on capital gains and repatriated profits.
  • It replaces the payroll tax.
  • It will aid capital availability for small businesses.
  • It saves taxpayers $430 billion in annual compliance costs.
  • It eliminates the uncertainty holding this economy down.
Current economic conditions call for bold moves to boost and supercharge this economy. If we are in an economic recovery as the administration claims, this economy is still 6 million jobs below the worst recovery since the Great Depression. The latest evidence shows that we are still in economic decline.

This plan is bold and doable. It has been developed and analyzed by some of the best economic minds in the nation. Remember, I surround myself with good people. That’s the key to my success and it will continue to be.

I offer this plan to the president, the Congress and the “super committee”. I could wait until after I am elected president, but America can’t keep waiting.

Struggling businesses and 15 million unemployed people can’t wait.

We need serious economic growth now! Please Mr. President, just do it!