Monday - He says there will be tax relief for poorer workers living or working in "empowerment zones."
Friday - He announces the 9-0-9 plan for workers at or below the poverty line, meaning that they don't pay the payroll tax. Change of plans, I guess. The benefits for business of empowerment zones, well that's still being worked on. (By the way, this website hasn't caught up yet either.)
Here's what I think: Herman Cain latched onto someone's economic plan. It sounded good in the echo chamber, but not so good out in the real world that contains 1) poor workers 2) noisy liberals in the media that will point out the plan's effect on poor workers.
So Cain conferred with his economic adviser, trying to alter the plan for the real world after the tour bus is on the road. Between Monday and Friday somebody pointed out that poor workers may live somewhere outside of an "empowerment zone." Cain, as a former poor child, should have known this already. Actually, everyone in this country should know this.
Soon we'll hear about problems with the 9-0-9 plan. I've got two already:
- How does the government know you're under the poverty line unless you file a tax return?
- If you're under the poverty line, you don't have any incentive to get slightly over the poverty line unless the income tax is phased in. So there be 9-1-9 plan, then 9-3-9 plan, etc?
Herman with his favorite focus group