Friday, April 5, 2019

Make Pizza Great Again

The Orange Blunderer has resurrected Herman Cain by nominating him to serve on the Federal Reserve Board. You might remember the one time pizza chain figurehead for his signature tax plan that he promoted during the 2012 GOP primary. It was catchy if simply nonsense. He promoted the idea of a 9-9-9 tax system. Nine percent  for each of personal income tax, Federal sales tax and corporate income tax.

This system allowed for no deductions or loopholes. The bottom 40% of taxpayers who pay no income tax would pay 9% plus a new sales tax of 9%. The rich and their corporations would pay new lower rates. He couldn't say where this idea came from or how it could possibly work but it must have impressed Donald Trump.

Trump's last Fed Board nominee is an incompetent economist but at least he probably knows what the Fed does. Herman Cain probably hasn't heard of them much like the current Dept of Energy Sec Rick Perry that didn't know what that Dept did until he arrived at work.

0 comments: