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9–9–9 Plan
The 9–9–9 Plan, a centerpiece of Herman Cain's 2012 campaign for the Republican Party's nomination for president of the United States, was introduced in August 2011. The 9–9–9 Plan would replace all current taxes (including the payroll tax, capital gains tax, and the estate tax) with 9% business transaction tax, 9% personal income tax, and a 9% federal sales tax.〔(Does the Herman Cain 9–9–9 tax plan have a fatal flaw? ) By Peter Grier, csmonitor.com October 12, 2011〕 ==History== In July 2011, an advisor suggested that his campaign's tax policy plan be called "the Optimal Tax", but Cain rejected the name, saying "()e're just going to call it what it is: 9–9–9 Plan."〔John D. McKinnon, (Cain Plan's Reagan-Era Roots ) ''The Wall Street Journal'' October 14, 2011〕 The plan would replace the current tax code with a 9-percent business transactions tax, a 9-percent personal income tax, and a 9-percent federal sales tax. During a debate on October 12, Cain said his plan "expands the base," arguing that "()hen you expand the base, we can arrive at the lowest possible rate, which is 9–9–9."〔Steven Sloan and Richard Rubin, (Cain Reveals 9-9-9 Math With Projection of No Revenue Loss ) ''Bloomberg News'' October 13, 2011〕
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