Herman Cain's Plan to Reduce Legislation and Boost the Economy
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The Man with a Plan The economic and job recovery plan of Herman Cain, promises to bring America back to the top. More and more people are beginning to listen and believe his visionary message. “In order to return to prosperity, government must get off our backs, out of our pockets, and out of our way.” (Herman) The feeling that the government just wants America’s economy to survive is relevant, when it should be allowing it to thrive. A new way of doing things needs to come about in Washington. Herman Cain’s job creation plan is better than the Democrats’ because of the 9-9-9 plan, reduction in legislation, and more lax regulation.
Supporters of the Democratic jobs bill say that more reforms and more legislation is the key to getting…show more content… Nothing will be taxed twice, eliminating some confusion from citizens. An overall flat tax based system will have more upsides than downsides. “With a flat tax, politicians would no longer be able to reward their cronies and contributors with loopholes and tax breaks” (“The Flat” 6). Corporate tax rates will be low, luring in business. With a severely reduced corporate tax rate, more and more companies will start coming to America, instead of American corporations and big businesses leaving the States to receive a low tax benefit. Another section that Cain recently proposed is setting up opportunity zones in rundown neighborhoods. To encourage businesses to set up shop in lower class neighborhoods, Cain added “opportunity zones” to his plan. Cain stated, “[B]ecause taxes and regulations have gotten so bad, people with money don’t want to take risks” (qtd. In “Kumar”). Tax breaks would be awarded to the businesses that start-up in the zones. Adding more merit to the adage, “location, location, location.”
Less than fifty percent of Americans actually pay income tax. How can the economy bounce back with only the small middle and upper classes taxed? The nine percent tax on new goods will be implemented to everyone. Insuring that everyone does his or her part in correcting America. Nine percent business and individual taxes will also be apart of the plan. Since everyone in America will pay the same percentage, the progress on balancing