Businessman Herman Cain was on Meet the Press today being interviewed by David Gregory. The 24 minute interview was wide-ranging and touched on all the key campaign issues from Cain’s “999” plan to his foreign policy objectives.
Here is Cain’s entire interview:
Report from the New York Daily News:
WASHINGTON – Newly minted GOP rock star Herman Cain today acknowledged that some Americans would see bigger tax bills under his “9-9-9” tax plan, the cornerstone of his bid for the White House.
“Some people will pay more,” Cain said on NBC’s “Meet the Press.”
“But most people will pay less is my argument.”
The former CEO of Godfather’s Pizza skyrocketed to first place in recent national polls. But as his poll numbers climb, so does scrutiny of his plan to replace what Cain called the “10 million word mess” of the current federal tax code.
“The American people understand it and the American people are embracing it,” he told David Gregory of “Meet the Press.”
Cain’s 9-9-9 plan would replace the tax code with a 9% corporate tax, 9% personal income tax and a 9% national sales tax.
Gregory said 30 million poor households who don’t currently pay income or payroll taxes would be hit under Cain’s plan, according to many independent economists who have reviewed it.
Economists say that rich people would pay less and poor and middle class people would pay more, Gregory said.
“I do dispute that,” Cain countered.
“Who will pay more? The people who spend more money on new goods. The sales tax only applies to people who buy new goods not used goods. That’s the big difference that doesn’t come out,” he said.
Cain also fought critics’ take that his 9% federal sales tax would create a heavy burden on top of any state’s existing state sales taxes.
“Your state taxes are the same. Your federal taxes, in most cases, are going to go down. That’s muddying the water,” Cain said.
One thing Cain has unarguably done is spark a national debate over the merits of the current tax code versus reform consisting of a flat tax, fair tax, or some combination thereof. One can assume that Cain was well prepared for arguments against his “999” plan on how it would affect low-income households. So far, it appears Cain has satisfactorily countered those arguments as his standing in the polls has only increased.