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Republican presidential candidate Herman Cain speaks prior to Florida's President 5 straw poll at the Orange County Convention Center on September 24, 2011 in Orlando, Florida. Cain won the straw poll with 37.11% of the vote.
Yesterday, the Patt Morrison Show took a closer look at Herman Cain's now-celebrated 9-9-9 plan. If you're curious about how a flat income, sales, and corporate tax would all work together, check out my post on the topic:
And if that's not enough Hermanomics for you, I've also provided a useful rundown on his plan to reform Social Security along the lines of what he calls the "Chilean Model":
There's no question that with his mantra-like tax plan, Cain has captured the attention of his opponents in the Republican presidental-candidate race, as well as the national media and no small number of voters — and taxpayers — who find taxes bewildering and would like an easy fix.
The "Social Security is a Ponzi scheme" argument just won't go away. You'll recall that Rick Perry got in trouble for rehashing this allegation, made in his book, during a GOP candidates debate at the Reagan Library. Republicans then pivoted slightly, moving away from Perry's extreme view, toward their more traditional position: that Social Security needs to be "reformed."
The last time the GOP took a serious crack at reforming Social Security, George W. Bush was in the White House, and he put before Congress a proposal to privatize a portion of Social Security, insisting that investment returns were the best way for Americans to keep the system solvent.
Now Mitch Daniels has taken up the charge. Or I should say re-taken-up the charge, as the Indiana Governor, who's being touted as a possible vice-presidential pick, has been a critic of Social Security going back to the days when he was…George W. Bush's Director of the Office of Management and Budget.