Mr. Cain went on to explain that as someone who has been studying tax policy for 15 years, he believes that the Fair Tax would be superior over the long run, as it puts the consumer completely in charge in how much they pay in taxes. With a 100% consumption tax he believes, we would see a significantly boost the economy.
Personally, I held doubts concerning 999 as a viable reform plan. But in the aftermath of his AEI defense, I concede that the plan is nonetheless a viable improvement to the current tax structure, so long as his claim of a "single VAT" rather than a multiple one holds true.
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