Arthur Laffer is considered the “father” of supply-side economics, and famously demonstrated justification for lower tax rates with his “Laffer Curve” (read about the Laffer Curve here). Laffer says Herman Cain’s 9-9-9 plan for revamping the tax code makes a lot of sense:
Famed supply-side economist Art Laffer told HUMAN EVENTS that Cain’s “9-9-9″ plan was a pro-growth plan that would create the proper conditions for America’s economy to grow and thrive again.
“Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to the U.S. economy,” Laffer told HUMAN EVENTS in a statement. “The goal of supply-side tax reform is always a broadening of the tax base and lowering of marginal tax rates.”
Added Laffer: “Mr. Cain’s plan is simple, transparent, neutral with respect to capital and labor, and savings and consumption, and also greatly decreases the hidden costs of tax compliance. There is no doubt that economic growth would surge upon implementation of 9-9-9.”
Laffer also said that “such a system provides the least avenues to avoid paying taxes, yet also maintains the strongest incentives for work effort, production, and investment.”
The other Republican candidates have criticized Cain’s plan as too simplistic, or not serious, or not passable (as in the Congress). Read their comments at Human Events
