Like a stopped clock, it turns out that Michele Bachmann may well have been correct when she awkwardly quipped in the most recent Republican debate that “the devil is in the details” regarding Herman Cain’s ludicrous “9-9-9” plan for overhauling America’s tax system.
Hilarious details are now coming to light about the origins of Cain’s brutally regressive plan, such as it being authored by an “economist” but who is, in fact, an investment advisor at a branch of the Wells Fargo bank in a Cleveland suburb and may have drawn his inspiration for the crackpot scheme from the default settings of the computer game SimCity4.
Watching the absurd debate over the American tax system brings a new appreciation for the eminent sensibility of the hybrid system employed in Canada of progressive income taxes and a flow- through value-added consumption tax incorporating reasonable exemptions to curb its most egregiously regressive impacts (e.g., rebates for low income plus zero-rating for basic groceries, rent, etc.)