Posted on 10/16/2011 2:32:45 AM PDT by Cincinatus' Wife
"I'm the only problem-solver in the group," Republican presidential candidate Herman Cain told Mike Huckabee in an August Fox News appearance. Well, many candidates bill themselves as problem-solvers. In fact, if we asked any candidate running for any office in the entire country, practically every one would likely define him- or herself as able to solve problems. Yet we know that politicians, as a rule, create and worsen problems rather than fix them.
.....Overconfidence turns the hopeful campaign pronouncements of otherwise successful people into dismal policy. In the end, Americans usually end up with more laws, less freedom, and no money.
The question is what type of problem-solver Cain will be as president......
Examining Herman Cain's record leaves serious questions about which type of problem-solver he is. In a column published October 20, 2008, Cain blamed conservatives' "economic illiteracy" for their opposition to the freshly passed Trouble Assets Relief Program.
"Wake up people!" admonished Cain with typical candor. "Owning a part of the major banks in America is not a bad thing. We could make a profit while solving a problem." Cain goes on to defend Treasury's decision to post-legislatively change TARP to buy preferred stock in banks rather than toxic mortgages. "You got a problem with that?" asks Cain. Apparently he didn't.
Cain reassures "free market purists" that the Treasury's stock purchase is "not nationalization because that would require government to own at least 51% of the entity for an indefinite period of time." (This is a relief, because some of us thought that government would use this foot in the door to force mergers, control salaries, and set lending rules. Oh, wait...)...
(Excerpt) Read more at americanthinker.com ...
Everybody and their uncle and aunt knows Cain has turned on TARP like a hot potato. To fail to mention this is to lie by omission.
Well, you just did mention it. Would you please post a link for the thread?
Herman Cain is full of bluster and gets to hide behind the race card with us. HE is not fairing so well with African
Americans, a lot of retired folks dont care for his 9% national sales tax and he just took a big poke at hispanics but that is another matter.
It sure must be nice to not get hammered on the issues.. I don’t wish to hit Cain unfairly, so let me say that Romney is taking a cake walk.
They do not realize that due to elimination of hidden taxes, prices would ease under the Cain plan, and that by more than the 9% they would pay.
Willie Green?
He loved trains to the point of fanaticism.
Now We have the Cain train.
Nice try.
The money has been taxed already.
Can you refute that prices would ease?
Can you prove that they would?
Here Cain says TARP was not implemented correctly and he would let the banks fail if it happened now.
http://www.youtube.com/watch?v=kSm2d6DqkUs&feature=player_embedded#!
Can you prove that they would not?
Well since you diverted the thread to perry with you initial post why dont you go ahead.
Cain stated on Huckabee Saturday that Social Security would not count as income tax and there would be no tax on any savings plans including 401k’s.
As for the price of goods and services here you go.
Examples of How Taxes are Hidden in the Price of Goods
Americans for Tax Reform (ATR) has calculated several examples of how taxes affect the purchase price of several goods and services. The ATR figures include the impact of all taxes — not just certain hidden taxes — on prices. According to ATR:
• Taxes account for 35 cents of the cost of a $1.14 loaf of bread.
• 18 cents of a 50-cent can of soda go toward taxes.
• 72 percent of the cost of a 750-ml bottle of liquor goes toward taxes.
• Taxes for an $80 hotel room average 43 percent.
• Taxes account for $63.60 of a $159 airline ticket.
• A $153.09 monthly utility bill consists of $39.35 in taxes.
• Over half the cost of a $1.33 gallon of gasoline is due to taxes.22
A 1992 Cato Institute study looked at taxes somewhat differently, calculating how much someone needed to earn to have enough after-tax dollars to purchase several products. The study concluded that a typical worker needed to earn $17,038 to buy a $10,000 car, and $2,556 to purchase a $1,500 computer.
Now look at the cost of that $10,000 car with the 999 plan.
10,000 multiplied by .09 (Business tax)+.09 (Sales Tax)= 10,000 multiplied by .18= $11,800
$11,800 Cains 999 plan
$17,038 current plan
You tell me which one is better.
So a retiree would only pay for the 9% sales tax compared to the hidden 22% average they pay now.
Horse crap!
You are telling me no one pays 9% more on earnings already taxed and saved?
Weasel words
Perhaps you should make a rational argument or provide an alternative plan.
I didn’t make the connection!!!! You know Willie is on this train.
You show me where Mr Cain exempts current savings from a 9% tax.
I think your wasting your time
You show me where Mr Cain exempts current savings from a 9% tax.
You show me where Mr Cain exempts current savings from an ADDITIONAL 9% tax.
Well perhaps we should call on the “Super Committee” for a plan of action.
Show me where hes ever discussed it. Is current savings new income? Is it under a sales tax?
Perhaps you like the current tax system, most rational people dont.
Yo! 9% National sales tax equates to 9% on top of money already taxed and saved.
You show me where Mr Cain exempts current savings from an ADDITIONAL 9% tax.
I may be wrong here but unless your saving it in a jar isn’t the interest on that money already subject to taxes higher than 9%? Money in 401’s will remain tax free until drawn and then they will only see a maximum of a 18% tax. I wish he would address this subject directly because it comes up allot.
Thank you for the link.
Was that video made around a June-July 2011 time frame?
“Cain stated on Huckabee Saturday that Social Security would not count as income tax and there would be no tax on any savings plans including 401k’s.”
Care to point that out in the ‘plan’ on his website?
I read it and it says nothing of the kind.
This isn’t vetting. It’s bashing from the biggest Rick Perry supporter on FR.
Perry supporters have been bashing the Tea Party, Sarah Palin and now Herman Cain ever since Perry got into the race.
Then they whine about Rick Perry getting “brutalized.”
You know what? Every time they smear Herman Cain or the Tea Party, the more popular they become and the more Rick Perry declines. It’s a really stupid way to support a candidate.
My Taxes are already paid free and clear, That is the way I like things.
I dont like a lot of mumbo jumbo, Now some bums want to add a 9% National sales tax on top of those monies.
Competition would almost guarentee it, as it always has.
Keep whinin
ok....
http://www.hermancain.com/999plan
When Fox has a video from Huckabee from last night up you can check that also.
When has any Perry supporter smeared the tea party?
Rick Perry is all about fiscal responsibility, and independence.
That webpage is a bunch of run around.
As I said earlier he needs to address this particular situation directly it seems to be a concern of many.
Yes, I believe it was.
I missed your post.
It is an issue, Its one hella issue.
Thank you. I could only go by the dates on the comments beneath it. Was this video widely circulated?
That isn't in his ‘plan’ website that you just posted.
He loses all cred when his words don't match what he wrote in his ‘plan’, which he defends as ‘well thought out’.
Do you support the Fair or Flat Tax or do you prefer the current system?
I read it and it says nothing of the kind.
There are no plans whatsoever on Rick Perry's site.
I don't think Rick Perry is capable of understanding economics.
He has been an utter imbecile on the debates. It was embarrassing during the last debate -- the one where everyone was supposed to talk about their economic plans. When they asked Perry if he had any details about his plans, he said -- like a bad student who didn't get his term paper done on time -- no, but promised he would turn one in soon. Then he all he came up with was a vague energy plan with no details, that every other candidate had already espoused.
Rick Perry is an imbecile. I don't think he's capable of thinking on his own.
His high-priced handlers and consultants won't let him speak unless they craft his words and he thoroughly rehearses them. It's weird that they don't let him go on any cable television political shows to speak. They think he's too stupid to answer questions on his own.
Rick Perry is nothing but a vacuous Ken-doll.
.
I hate to keep repeating myself but back to my first question. Unless that money is stashed away some where I suspect it’s in an account and hopefully one that interest bearing. Right now that interest is subject to tax where in his plan it seems to be tax free until spent. Having that interest tax exempt would be a good thing in my opinion.
That said....I want him vetted thoroughly. I don't want the Tea Party to give him even the slightest pass for his race...just as I don't want anybody using race AGAINST him as the Left seems to do ALL THE TIME.
I will say, he made me pull back in full support when he had that conversation with Wallace—about the right of return. Big red flag for me. I think Mr. Cain is the right man for the job re: the American economy—but world events are complex and frightening. That “I” knew more about the most sensitive issue in the middle east than he did (at that moment)....well...He's got to REALLY impress me in the next debates on this topic and all national security issues.
Any of the republicans running would be a relief after the Golden Child. I'll wait until all the debates are held and see who is left standing. I hope it's Cain, ‘cause, like I said, I admire his personal story. But that is not the reason to vote for the POTUS.
The letter that urges action but does not define it?
Now, you act as if Perry was the actor who was the precedent of the fiscal crisis.
Next you will tell me that Parry was the very architect of the crisis and then you will tell me he is a rude and cant string 3 words together.
He said he supported TARP. it was the WAY THEY SPENT IT that he disagrees with.
I have to agree. It went to prop up unions and states and his bestest friends for a year.
Now what. They are back for handouts again.
I like a flat tax but I see no way of it ever getting passed in congress.
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