More brainy people showing love for 999

I have to say, I find it pretty amusing to hear the political pundits stamp their collective feet and declare that Herman Cain's "999 Plan" can't possibly work...

...and in the meantime, more economists, policy wonks, and other brainy people come forward and say they like what they see...

Here's Reagan economist Art Laffer, who is famous for the "Laffer Curve", who calls 999 a "wonderful plan" and addresses the criticisms both from the left that it's a regressive tax and from the right that it's a risk to institute a new tax:



Fox News | Special Report with Bret Baier | Reagan Economist Breaks Down 999 Plan

Human Events also interviewed Laffer on Wednesday about 999:

Human Events | Godfather of Supply-Side Economics Supports Cain's '9-9-9' Plan

The Godfather of supply-side economics, Arthur Laffer, has given Herman Cain's signature "9-9-9" economic plan a critical boost, even as it has come under heavy fire from his GOP presidential competitors

The famed economist told HUMAN EVENTS that the proposal was pro-growth and would create the proper conditions for America's economy to expand 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." 

Congressman and Budget Committee Chairman Paul Ryan told The Daily Caller that he "loves" the 999 Plan:

The Daily Caller | Paul Ryan 'loves' the idea of Herman Cain's tax plan

House Budget Committee chairman Paul Ryan said in an interview with The Daily Caller that he “loves” the idea of having “specific and credible” plans, like presidential candidate Herman Cain’s signature “9-9-9″ proposal, in the national debate about tax policy.

Ryan told The Daily Caller in an exclusive interview that Cain’s plan is a good starting point for debate, and shows the GOP presidential campaign season has entered into a more advanced stage where ideas — not just personalities — have come to the forefront.

“We need more bold ideas like this because it is specific and credible,” Ryan said. “I’m more of a flat-tax kind of a guy.”

The budget chairman went on to say that ideas like Cain’s plan could help shape the debate over tax reform moving into 2013...

See also:

Wall Street Journal | John McKinnon | Cain Plan's Reagan-Era Roots

My post from earlier this week: Here's some brainy economists discussing Cain's "999 Plan"