9-9-9 Worth Exploring

GOP Presidential Candidate Herman Cain has a fix for nation's economic straits. It's the 9-9-9 plan.
The former CEO of Godfather's Pizza sees the IRS as an overseer of America.
While Cain hasn't given the dirty details yet, he has outlined what each segment  involves.
Most folks don't like change, but the kind of chain Cain is talking about may be just the right thing needed to shake up our nation's economy.
First, Cain would institute a 9 percent income tax. No more, no less.
The complicated tax code would be eliminated. No more tax credits or deductions, with two exceptions — taxpayers could claim charitable contributions and also earn a type of tax credit for living in an "empowerment zone." Cain's zones are inner city regions that need revitalizations.
Just eliminating the income tax is only a portion of the first 9. Cain also replaces payroll taxes, something every hard-working American pays to fund Medicare and Social Security. He would end the estate tax as well.
The 9 percent income tax is an equalization. Bill Gates and the guy who works at McDonald's would pay 9 percent.
The Joint Committee on Taxation, a bipartisan Congressional group, reports just less than half of all Americans pay no income tax at all.
Would the increase of those who don't pay be able to make up the difference when the other taxes are eliminated?
The second 9 would be the levying of a 9 percent national sales tax.
Cain sees the revenues generated by this nationalized tariff would also make up the difference in dollars lost from eliminated payroll and estate taxes.
This national sales tax would be on top of existing state and local taxes. It would be collected on all new goods. Whether or not services are exempt is unknown.
Finally a 9 percent corporate income tax would be levied.
Presently, corporate income tax is at about 40 percent. That would be a win-win for businesses. However, most through the use of deductions, pay more in the range of 27.5 percent.
How much would Cain's 9-9-9 plan generate? No one really knows. Could it reduce the red tape we all face come tax time. Would it put more money in the pockets of worker and business owners?
It is worth exploring.
With the way Congress is so entrenched, it is highly unlikely it would ever come to reality.
It is a good idea though.