ETX economic leaders question 9-9-9 plan's viability - KLTV.com - Tyler, Longview, Jacksonville |ETX News

ETX economic leaders question 9-9-9 plan's viability

By Lauren Callahan

TYLER, TX (KLTV) - "If you look at his initial proposal, just the 9-9-9, the effect would be to raise the tax rate on between 97 and 98 percent of all Americans. And I don't think when they get that figured out it's going to sell well with the voting public," Doty said.

That's because there are many Americans who don't earn enough to pay income taxes under the current system who would have to pay under Cain's plan. In addition, Cain's 9% sales tax proposal is in addition to state and local sales taxes.    

"In Texas that would take us from 8.25%, which is the state amount and the local amount, up to 17.25% for everybody," said Tyler Economic Development Council president Tom Mullins.

According to Doty, Cain's plan is nothing more than a good political soundbite.    

"I agree with most of our politicians that our tax codes and tax policies require complete overhaul. At the same time, there's not going to be a simple magic idea that fixes everything," Doty said.

 

Powered by Frankly