Former pizza magnate and 2012 GOP presidential candidate Herman Cain, when asked about the multiple analyses showing that his 999 tax plan would hammer the poor, simplyasserts that those numbers are wrong, alluding to his campaign's own analysis of the plan (which does not actually include a distributional breakdown). When the heat on Cain got even more intense, he explained that he has a secret plan to protect low-income Americans from 999, but he just hadn't told anybody about it. "We've already made provisions for that, but I just haven't told the public and my opponents about it yet," he said on Wednesday.
Today, finally, Cain released the latest tweak of his plan — the creation of what he calls "opportunity zones." According to Cain, these will be special zones placed in inner cities, and those who work or live in the zones will receive deductions from 999 (which otherwise wipes out all of the traditional tax deductions, including the Earned Income Tax credit, child deduction and the mortgage interest deduction). Evidently believing that all economic analysts are also mind readers, Cain said today that those who criticized his plan simply didn't read it:
Now, the opportunity zone feature has been in our analysis all along. But just like I accused some of my opponents the other night of not having read the plan, we now have proof they didn't read it. If their staffs had done the proper job and read it all the way through, they would have discovered what I'm about to share with you.
REST AT
http://thinkprogress.org/economy/2011/10/21/349944/herman-cains-opportunity-zones/
No comments:
Post a Comment