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Still, a number of my fellow economists don't
like the retail sales component of the 9-9-9 plan. They argue that,
once in place, the retail rate could be raised to the moon. They are
correct, but what they miss is that any tax could be instituted in the
future at a higher rate. If I could figure a way to stop future
Congresses from ever raising taxes I'd do it every day of the week and
twice on Sunday. Until then, let's not make the perfect the enemy of
the good. - Art
Laffer
First,
and hearkening back on the earlier discussion
about "who are establishment republicans?," George
Will, ahem, recently opined “We’re
having a kind of Andy Warhol primary where everybody is leader for 15
minutes and Cain’s turn." I suspect George Will's first
choice is Mitt Romney, but let's not sling mud.
It just might be that Herman Cain is ascendant because he has a
message with substance, oui? His 999
plan is that in spades (and the obverse of Obama's 666
plan.)
Laffer satisfactorily addressed my concern about the irresoluteness of
a
national sales tax. I am now firmly in Cain's camp, and don't
hold the 'chovies.
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