The "9-9-9" Cain Tax Plan ~ Is it Possible?

While aspects of the Cain "9-9-9" Tax Plan appear attractive for several reasons, it is possible or even realistic?  The simplicity of the Plan may be what first draws you in.  But in The Wall Street Journal this week, an article titled "Study Puts Cain Tax Plan Under Microscope," noted that Cain's "plan would scrap the current tax code, with its income and corporate tax rates as high as 35%, and replace it with a 9% individual income tax rate, a 9% tax on businesses, and a 9% national sales tax." 

Separate and apart from what may be beneficial aspects of his Plan to our economy and perhaps certain wage earners, there is extensive law based upon the tax code.  There are entire industries built upon the current tax code. There is no doubt the current tax code needs to be reformed. 

Having studied the IRS code for the last 14 months as I pursue a Master of Laws in Taxation from NYU, I am certain that it could be clarified and simplified.  I am also certain that those in Congress do not understand the implications of each and every change they make to the tax code. However, scrapping the current tax code in its entirety and thereby all of laws, legal cases, and other binding judicial rulings that relate to it is not a realistic goal.