Basically, it means you can get a large pizza from Godfather's with two toppings for $9.99.
Really, though, look at what Cain had spelled out in his tax plan. All tax deductions such as mortgage interest and charitiable contributions would be eliminated. This would hurt lots of people such as the homeowner who counts on that deduction and charities who count on people making contributions as long as they are deductible.
It does have some interesting points, of course. However, such a tax bill would have to be written by a Congressman's office, be introduced, go into committee, be rewritten many times so all parties could get exactly what they want in it, the final bill would take a few years to complete and would resemble nothing like the original plan intended and finally get voted down because it included doing away with an entire Federal government agency which would put tens of thousands of well-paid employees out of work. This would be labeled as a job-killer and would be voted down no matter how hard the President wanted it. Figure also there are many steps along the way to the final outcome that might send it back to a committee or kill it on the spot.
|