Ronald Reagan Economist Art Laffer Says He “Loves” Herman Cain’s “999 Plan”; Says it is “Not Regressive” – Video

Here is video of one of Ronald Reagan’s chief economists – Art Laffer – saying he loves Herman Cain’s “999 Plan.”

Laffer said Cain’s plan is “not regressive,” and would get rid of the very regressive “payroll tax.” Laffer said the fact that Cain’s plan throws out the existing tax code and starts fresh is a huge benefit. He answered critics who say lower income people who don’t now pay income taxes would pay more by pointing out that with the current system, people are paying hidden taxes in the price of every good and service. Cain’s plan would get rid of all other taxes and replace it with the 9% personal tax rate, 9% corporate tax rate, and a 9% national sales tax that everyone can see.