Source: Catalina Camia / USA Today
GOP presidential hopeful Herman Cain tweaked his 9-9-9 tax plan, eliminating the tax burden on people living in poverty and creating “opportunity zones” to boost economically depressed areas .
Cain’s changes to the plan come amid growing criticism that the proposal — calling for a 9% income tax, 9% national sales tax and 9% corporate tax rate — would raise taxes on low- and middle-income people while helping the wealthy.
The former Godfather’s Pizza CEO proposed people living at or below the poverty line would pay no income taxes. He touted his plan for opportunity zones in front of a vacant train depot in Detroit.
“I believe in empowering cities to help themselves,” Cain says in the Detroit News about his proposed opportunity zones. “Empowering individuals to help themselves. This is not an entitlement program.”
Cain’s changes to the 9-9-9 plan include exemptions from zoning and building codes in areas that need economic boosts and new tax brackets for different income levels. He also says some minimum wage laws could be waived.
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