Every concerned citizen must go to Herman Cain’s website and seriously study his 999 plan specific details.His ultimate goal is obvious:Shift the tax burden to all lower and middle classes.Everyone, except for the wealthy, will have an unfair and excessive tax obligation.

To make my point, for 2010 my 88 year old mother’s income and federal taxes were based on $12,000 social security(before deducting Medicare part B premiums, Medicare part B supplement plan and Part D plan) and $8,000 other taxable income.After applying the social security deduction, standard deduction and personal exemption her tax bill was ZERO,”0”.

Under Cain’s plan she would pay 9% income tax on her gross income of $20,000.The above deductions and exemptions are not mentioned in Cain’s plan.Also, since she must spend all of her income, she would pay another 9% consumption tax on $20,000.

Her total tax bill:$3,600!Too bad all her income wasn’t from capital gains, because her tax bill would have been ZERO.Warren Buffet’s secretary is really going to be raising Cain now!

Since my mother is retired, she no longer pays payroll taxes.Under Cain’s plan, thesetaxesthat supports social security, Medicare and Medicaid are somehow embedded into the 999 plan.What are the accounting and accountability plans for this money?

How about considering a plan similar to the Bowles-Simpson plan, it’s a fair plan for everyone.If the government wants to experiment with a national consumption sales tax to increase revenue, a 5% national sales tax could be added to this plan.This would ensure that almost everyone pays taxes and contributes to our country.However, lowincomepeople, like my mother, should receive a 5% income tax credit rebate on their end of year federal tax return.Mr. Cain says his smoke and mirror999 plan is revenue neutral.Has he accounted for the current 40% revenue shortfall?

Additional suggestions:The upfront tax deductible contribution traditional IRA should be eliminated and replaced entirely with the current Roth IRA.All income, including interest, dividends and capitalgainsshouldbe taxed at the applicable individual tax rate.