Wondering how Herman Cain can stay at the top of the polls?

Perhaps one explanation comes from a new Des Moines Register poll that finds two-thirds of likely caucus-goers earning less than $50,000 believe they would be better off or in the same financial situation under the 9-9-9 tax plan. Except they wouldn't. Most every expert who has examined this cockamamie plan agrees that most families making $100,000 or less would pay thousands of dollars more in taxes. From the Register:

"The larger point is that people don't really understand what the 9-9-9 plan actually is, and they're assuming incorrectly that they may not pay one or any of these taxes," said Joe Rosenberg, a research associate for the Tax Policy Center, a group based in Washington, D.C., that bills itself as a nonpartisan economic research institute.

Sooner or later, the poll numbers are sure to change (the Register survey was conducted before those sexual harassment allegations surfaced). That 9-9-9 has such staying power, however, tells you a lot about voter ignorance when it comes to money matters.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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