The campaign for U.S. Rep. Michele Bachmann issued a press release late Tuesday that was titled: ’9-9-9? would wreck the U.S. economy. Quoting FreedomWorks, the Wall Street Journal and several other media outlets, the Bachmann campaign argued that Cain’s signature plan “levies a brand new national sales tax and would further weaken the U.S. economy, leaving American taxpayers vulnerable to skyrocketing rates imposed by future Congresses.”
… Mr. Cain’s plan has a worthwhile intention, but 9-9-9 would cause more problems for the U.S. economy and job-creation than it would solve. Sensible tax reform will lower the burden on American business, simply the tax code for all taxpayers, and make the U.S. the most competitive engine of economic growth in the world.