YES WE CAIN!

by Keli Wed Oct 05, 2011 6:18 am

Herman Cain has moved into a tie with Mitt Romney
CBS News ^ | October 4, 2011 | Brian Montopoli

The poll shows Cain, who stood at just five percent support two weeks ago, now holding 17 percent support among Republican primary voters. That puts the former Godfather's Pizza CEO into a tie with Romney, the former Massachusetts governor, whose support has essentially held steady over the past two weeks.

by **SheikBen** Fri Oct 07, 2011 7:54 am

I liked Cain's dressing down of the protesters. I also find humor in Obama trying to relate to them--since when is the 'President' a voice for the "disempowered?"

by **ohio county** Mon Oct 10, 2011 4:39 am

Community organizing is the only practical experience in his quiver. My understanding of his Constitutional law gig is that it was very theoretical and had little or nothing to do with Constitutional law as we might imagine it.

by **SheikBen** Mon Oct 10, 2011 8:24 am

I was a grad assistant and I mentioned something to my supervising professor about the Bull Moose Party, and she (with a PhD) thought I was making it up. This shows just how ridiculous higher education has become, and Obama is a symptom.

by **Stephanie** Fri Oct 14, 2011 6:25 pm

Herman Cain's Tax Plan Brings SimCity to Real Life

I think somebody needs to inform Mr. Cain the United States and her citizens are real and have real problems requiring real solutions.

by **SheikBen** Sat Oct 15, 2011 9:20 am

Stephanie I'm surprised. Lower, flat taxes, and a national income tax, should not be dismissed outright just because they've been tried in virtual reality. I should like the income tax abolished altogether, in line with Libertarian thinking, but if that is not going to happen, I think a low, flat tax is a good place to start, and an income tax that everyone pays will go a very long way to getting more folks concerned with government spending than currently are. As it is, folks think government spending is "free." Consider how many folks call public education "free"--an incorrect adjective on two fronts.

by Keli Sat Oct 15, 2011 11:07 am

Herman Cain’s catchy 9-9-9 tax overhaul system is gathering major supporters as the former pizza magnate consolidates his position at the top of the Republican field in the race for the White House.

House budget committee chairman Rep. Paul Ryan and Ronald Reagan’s economic guru Art Laffer both expressed their support for the plan which would replace the current tax code.

The anti-tax Club for Growth also came out in favor of Cain’s plan which would cut income and corporate taxes to 9 percent and institute a new national sales tax at the same level. Payroll, capital gains and estate taxes would all be eliminated under Cain’s proposals.

Eventually Cain’s plan calls for the complete elimination of income taxes – and the IRS – and the introduction of what he calls the Fair Tax, in which the all Federal revenue would come from a sales tax.

“I love the 9-9-9 plan, it’s a great first step,” Laffer told Fox News’ Bret Baier. “This is a lot better than our current tax laws that are filled with all sorts of ducks, chickens, pigs and turkeys. They’ve just got to be cleaned out and we’ve got to completely revamp the codes.”

Club for Growth president Chris Chocola called the 9-9-9 “an outline for a more prosperous and globally competitive America,” saying it is “both pro-growth and a good starting point on the way to a flat or fair tax.

“Eliminating taxes on capital gains and dividends and combining that with huge rate cuts in both corporate and income taxes would create an unparalleled economic boom,” said Chocola. “9-9-9 also eliminates the regulatory and compliance costs from the current tax code that suck billions out of the economy each year.”

(Excerpt) Read more at newsmax.com ... http://www.newsmax.com/InsideCover/Cain-999-tax-plan/2011/10/14/id/414487

by **Stephanie** Sat Oct 15, 2011 1:55 pm

I don't dismiss the plan because he (or his accountant friend) got the idea from a video game. I dismiss the idea for a number of reasons, but I'll give you the top 3.

It would place an unfair burden on the working poor. As bad as our current system is, low wage workers pay very little federal tax. They pay no income tax and if they have children most of the money they pay into SS, Medicare etc is reimbursed through the EIC.

Secondly, while dramatically increasing the burden on low wage workers, the wealthy get their tax burden cut. Capital gains would not be taxed at all meaning people who derive their income soley from capital gains would pay a big fat goose egg. I'm ok with eliminating income tax, cut not when it's done only for trust fund recipients and others born with silver spoons in their mouths and other millionaires at the expense of the middle class and the working poor.

I guess you could just combine reasons 1 & 2 and say because Cain's rip off of Sim City simply fails the fairness test

Third, 9-9-9 plan would generate about $2.2 trillion in revenue which is close to 15 percent of Gross Domestic Product—about what the US collects now. However, the US is currently spending 23 percent of GDP.
I have heard absolutely nothing from Cain about making the kinds of cuts in spending required to close this gap, and that's not even beginning to address the debt.

by SamCogar Sun Oct 16, 2011 10:15 am

“Eliminating taxes on capital gains and dividends and combining that with huge rate cuts in both corporate and income taxes would create an unparalleled economic boom,”

To claim the above action if implemented would “place an unfair burden on the working poor” …… is a per say “strawman” argument.

Because, ….. A tax by any other name is still a tax.

On the contrary, it has been the “never ending” increa$e$ in fees and taxes on corporations, businesses, capital gains, dividends and corporate/business/personal income taxes …… that has exacerbated said “unfair burden on the working poor”.

All the above noted “increa$e$” do little more than “fuel” the demand for increased “income$”.

The demand for increased “income$” does little more than “fuel” the demand for an increase in the retail “value$” of the goods and services that are being provided by those affected by the above noted “increa$e$”.

Thus, the retail “value$” of the goods and services are increased to satisfy the initial demands for increased “income$” …… or the providers of said goods and services have to “downsize” in order to offset the above noted “increa$e$”, both of which are actually what “places an unfair burden on the working poor”.

Even though the working poor pays little to no “income taxes” ….. they are still forced to pay or expend their “income” on tax-inflated goods and services …… which in fact “places more of an unfair burden on the working poor” than if they were just forced to pay “income taxes”.

And proof of the above assertion is the fact that to compensate for said “cost of tax-inflated goods and services” ….. our Government has found it necessary to ever-so-often increase Minimum Wages, increase the Poverty Level Baseline, etc. and to introduce and/or expand “give-away-programs” such as Earned Income Credit (EIC), Free School Lunches, WIC Program, Health Care, etc., etc. ……… to ease the “unfair burden that the Government is responsible for placing upon the working poor”.

And whenever our Government decides to expand said “give-away-programs and services” ...... our Government also has to "increa$e" fees and taxes on corporations, etc., to fund said expansions ..... and thus the cycle of “placing more of an unfair burden on the working poor” continues unabated.

Thus said, if huge rate cuts were instigated in the aforementioned taxes it would actually lessen any future or potential “unfair burden on the working poor”.

by **Stephanie** Wed Oct 19, 2011 10:48 pm

And yet Cain has, to my knowledge, absolutely zero plan for reducing government spending, reining in the Federal Reserve, or any other step to reduce government spending or control inflation, Sam.

by SamCogar Thu Oct 20, 2011 6:42 am

Any plans, suggestions or intentions made public by any POTUS candidate this early in the 2012 election cycle for reducing government spending, reining in the Federal Reserve, control inflation, etc., …… is a sticky-wicky “damned if you do, damned if you don’t” proposition/decision.

As anyone can see by the debate commentaries, etc., ……. the Republican candidates are intent on “eating their own” ……….. and the Democrats and their partisans are intent on “eating them all”, ….. with special intent on “eating” the front running Republican candidate, whoever it might be on any given day or week that new Poll data is announced.

Given said, any smart Republican POTUS candidate will keep his/her frigging mouth shut about what he/she plans on trying to “initiate, cut or delete” within the Federal Government if said “action” can be used by his/her opponents to bias and/or anger a fairly large percentage of the voting populace.

Don’t be declaring something stupid such as …… “Mission Accomplished” …… because it will surely to hell, if at all possible, be used by one’s opposition, as well as the liberal media, etc., to ignite a “firestorm” of anger and protest.

Stephanie, any POTUS candidate that is planning to “make drastic changes in/to the US Tax Code”, such as introducing a Value Added or National Sales Tax, …….. is, in fact, by the very nature of his/her aforesaid action, also planning on “reducing government spending” by eliminating the IRS and any other Agencies or personnel associated with said.

by **Stephanie** Thu Oct 20, 2011 8:04 pm

Look,Sam......Herman Cain has no intention of eliminating the IRS. In addition, apparently he and his campaign team have realized 9 9 9 is doomed to epic failure. They're changing it.

by SamCogar Fri Oct 21, 2011 8:13 am

Fox News said Cain's opportunity zone plan risks angering unions because it would enact policies they consider bad policy, such as the elimination of the U.S. minimum wage.

A document posted on his website, entitled "Cain's Vision for Opportunity Zones: Renewing Cities Across the USA", said that minimum wage laws "prevent many unskilled and inexperienced workers (i.e. teens) from getting their first job and prices them out of the market."

http://www.msnbc.msn.com/id/44985289/ns/politics-decision_2012/

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