*Republican presidential hopeful Herman Cain will propose an addition to his signature tax reform plan on Friday to help battered inner cities rebuild their economies.
The former Godfather’s Pizza CEO, who has rocketed to the top of Republican polls, will announce in a speech in Detroit a plan to create “opportunity zones” in cities to foster small businesses and create jobs.
The proposal answers criticism that his 9-9-9 plan to limit personal and corporate income taxes to 9 percent and create a 9 percent national sales tax would hurt poor Americans.
“We carved out a substantial amount from the aggregate 9-9-9 Plan tax base, enough to exempt those in poverty, and we will work with Congress to best apply these in a way to break the ‘poverty trap’ and replace it with positive incentives that encourage people to work and take risks in this economy,” Cain said in a statement released ahead of the speech.
Cain has taken some heat for his plan because experts say it would increase taxes on middle-income Americans, mostly by introducing a national sales tax for goods and services, which has been deeply opposed by conservatives.
Fox News said Cain’s opportunity zone plan risks angering unions because it would enact policies they consider bad policy, such as the elimination of the U.S. minimum wage.
A document posted on his website, entitled “Cain’s Vision for Opportunity Zones: Renewing Cities Across the USA”, said that minimum wage laws “prevent many unskilled and inexperienced workers (i.e. teens) from getting their first job and prices them out of the market.”
It said that the goals of the zones included renewing “distressed inner cities by reversing counter productive incentives and bureaucratic micromanagement by re-introducing market based entrepreneurship.”
They would “create the most productive environment, rather than trying to control outcomes.”
The document also said that “all building codes, regulations, restrictions, and requirements should be reviewed from the standpoint of whether they impede economic growth.”
Read/learn more at MSN.com.
Everybody is getting all riled up about Herman Cain. He has just as much of a chance of becoming President as I do. If the Republicans had all the answers to solve this economy, they would have done it like yesterday. Everybody wants to blame Obama for this country tanking but no one wants to question WTF we went to war in Iraq or Afganastan and the person that ordered the troops there? Who in their right mind would not support any idea to restore Americans back to work to filter more money into the tax system. Herman Cain should take notes from how the Repubs did Michael Steele. Everybody thought he was the next black hope only for them to wipe their asses with him and flush him down the toilet. Last time I checked, the majority of Godfather’s Pizza’s were gone out of business. They’re using Herman Cain to remind white folks to get out and vote or else you’ll have another nigger in office!
I hav not seen a good pic of Cain but this is one of his worst,they had to have one with his mouth wide open.