Art Laffer Spouting Nonsense on 9-9-9 ...

And here is the "Anti" Laffer points....good ones too....

I guess somebody had to try to defend Herman Cain’s 9-9-9 plan. Art Laffer does so in today’s Wall Street Journal, but his defense is really embarrassing.

First, Laffer describes the business tax component of 9-9-9 as a 9 percent tax on “net business profits.” This is false. Cain’s business tax, as described by his campaign, applies to “Gross income less all purchases from other U.S. located businesses, all capital investment, and net exports.” Because wages and salaries are not deductible, this is a tax on much more than just business profits.