Via TBogg, everything you need to know about the 9-9-9 Plan is that Arthur "The Curve" Laffer loves it.
This is the type of tax increase I wholeheartedly support. I support collecting more in taxes from people with high incomes who choose to actually pay taxes at lower tax rates than use lawyers and accountants to avoid taxes at higher tax rates. Some tax revenues at low tax rates is a heckuva lot better than no tax revenues at high tax rates.
That's right, he believes it'll generate more revenue because corporate tax lawyers will be put out of business, and businesses will use the savings to hire more workers and grow, meaning they'll magically generate jobs or something. Which would be great, except for the fact that businesses have more money now to invest in workers (that's called record quarterly profits) and they're not doing a damn thing with it except for taking it offshore. And despite the fact corporations and wealthy individuals across the country would see a massive tax cut, the "increase" part he's talking about would fall squarely on the bottom 5 out of 6 of us.
If you honestly believe that the only thing holding America back right now the tax code, I've got some numbers for you.
