Obama criticizes Cain's 9-9-9 tax plan

AP News
Posted: Oct 18, 2011 6:58 PM
Obama criticizes Cain's 9-9-9 tax plan

President Barack Obama says GOP presidential hopeful Herman Cain's 9-9-9 tax plan would be a "huge burden" on middle-class and working families.

The president says Cain's plan would make sure that the wealthiest pay less _ and replace the revenue with a sales tax hitting the less well-off.

Obama said that approach isn't new. And he said that across the board he hasn't heard any new ideas on helping the economy from Republicans, either in Congress or the candidates.

Obama made his comments Tuesday in an interview with ABC News.

Cain's plan would scrap current taxes and replace them with a 9 percent tax on income, a 9 percent business tax and a 9 percent national sales tax.