Godfather of Supply-Side Economics Supports Cain's '9-9-9' Plan

The Godfather of supply-side economics, Arthur Laffer, has given Herman Cain's signature "9-9-9" economic plan a critical boost, even as it has come under heavy fire from his GOP presidential competitors

The famed economist told HUMAN EVENTS that the proposal was pro-growth and would create the proper conditions for America's economy to expand and thrive again.

"Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to the U.S. economy," Laffer told HUMAN EVENTS in a statement. "The goal of supply-side tax reform is always a broadening of the tax base and lowering of marginal tax rates."

Added Laffer: "Mr. Cain’s plan is simple, transparent, neutral with respect to capital and labor, and savings and consumption, and also greatly decreases the hidden costs of tax compliance. There is no doubt that economic growth would surge upon implementation of 9-9-9."

Laffer also said that "such a system provides the least avenues to avoid paying taxes, yet also maintains the strongest incentives for work effort, production, and investment."

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