Herman Cain’s Other Tax Plan

Herman Cain does not believe that his 9-9-9 Plan is the best long-term choice for the U.S. Tax Code. Surprised? It’s right there on his website. The pizza magnate and Republican Presidential candidate sees his triple-9 proposal as an interim fix and advocates another tax plan entirely for the long run. Vows Cain at hermancain.com: “Amidst a backdrop of the economic renewal created by the 9-9-9 Plan, I will begin the process of educating the American people on the benefits of continuing the next step to the Fair Tax.”

If the “Fair Tax” is what Cain really wants, then his supporters and critics should probably be focusing more on it and less on 9-9-9. Formally known as the FairTax (one word), it isn’t perfect, but it’s conceptually sounder than 9-9-9. And it belongs to a class of tax reforms that might do more to achieve what Cain says he wants, which is simplicity, fairness, and the potential for boosting economic growth. (Texas Governor Rick Perry tried to one-up Cain on Oct. 19 by promising he would soon announce a flat tax “so simple that even Timothy Geithner can file his taxes on time.”)