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Raisin' [a Few Issues for the Purpose of Honestly Vetting Herman] Cain!
The American Thinker ^ | October 16, 2011 | Joseph Ashby

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 ...


TOPICS: Business/Economy; Editorial; Government; Politics/Elections
KEYWORDS: economy; freemarket; gopprimary; nationalbooktour; vetting
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To: Cincinatus' Wife; All

Interesting post & thread. Thanks to all posters.


101 posted on 10/16/2011 5:39:40 AM PDT by PGalt
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To: normy

Cain would not try it without GOP majorities in both houses of Congress, to avoid perverting the plan. The 9% is “on top of” a much smaller income tax. The old, large income tax appears right now in the prices of goods and services.


102 posted on 10/16/2011 5:41:22 AM PDT by HiTech RedNeck (There's gonna be a Redneck Revolution! (See my freep page) [rednecks come in many colors])
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To: Principled

“Damn straight. That’s the reason the rate can be lower. Everyone pays it. Not just the “top 53%” “

But SS and savings were already taxed once, 999 will tax it again. That wont sell.


103 posted on 10/16/2011 5:42:00 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: HiTech RedNeck

Oh, the plan is garage sales?

NUTS Herman Cain!

How does this stimulate the economy are we to make due with 1950’s cars like Cuba?

Yeah buddy this guy is an economic genius.

Sure makes more sense that getting Gov out of the way of energy costs and regulation


104 posted on 10/16/2011 5:42:27 AM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Darkwolf377

The difference between the candidates can be boiled down simply. Perry supports the current 35-35-0 system in which politicians get to dole out tax breaks to ease the corporate rate (highest in the world). Perry wants to create jobs Texas-style in energy especially, dialing back EPA regulations. Cain is fundamentally different with his flat taxes. His way of creating jobs is to not confiscate income from job-creators or corporate profits. But some people have a legitimate beef with sales taxes by the Feds, it opens up a door they don’t want opened.


105 posted on 10/16/2011 5:44:00 AM PDT by palmer (Before reading this post, please send me $2.50)
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To: Dusty Road

Hows that 401K working for ya?

Dont forget, you get to pay taxes on that and then Hermans gonna tax it again!


106 posted on 10/16/2011 5:44:56 AM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: palmer

Thank you very much. You’ve put that more succinctly than all the articles I’ve read so far.

The Fed sales tax is troubling, but we’re definitely at a crossroads where we have to take some risks—leaving things as they are is a risk, too.


107 posted on 10/16/2011 5:46:36 AM PDT by Darkwolf377 (Obama: The stupid person`s idea of a smart person.)
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To: Principled

Lets call on the “Super Committee” for a decision.


108 posted on 10/16/2011 5:47:24 AM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Erik Latranyi

I vote for a reasonable flat tax with very few deductions.

NO national sales tax!


109 posted on 10/16/2011 5:47:34 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: HiTech RedNeck
I understand his idea, it just doesn't take into account Washington. The original income tax was at 1% wasn't it?

It looks to me like he 9-9-9 is never going to happen without a Republican majority in both Houses, so that is a big if, and what if We get a Dem majority in 10 years?

We would need a Constitutional Amendment to keep the tax plan at 9-9-9. It will never happen because we can't even get a balanced budget amendment passed.

So Cain's tax plan is nothing at all, never will pass and can only be torn down for it's faults. So we go on to his border plan, 2000 miles of electrified fencing with enough voltage to kill anyone who touches it. How far is that gonna go in a general election?

110 posted on 10/16/2011 5:47:51 AM PDT by normy (Don't take it personally, just take it seriously.)
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To: Cincinatus' Wife
maintain an equal balanced playing field for the citizens and for our society

Sounds like equality of opportunity. Anybody should have the opportunity to get wealthy and not have that wealth taken from them Obama style. The 9-9-9 plan simply does that, it does not take 35% of high earner's income and it does not take 35% of corporate profits. Those two money sources are the source of most new (lasting) jobs.

111 posted on 10/16/2011 5:47:56 AM PDT by palmer (Before reading this post, please send me $2.50)
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To: mylife

Again, this is only if you are dead set on going Galt. The average Joe — in retirement or not — will see retail goods get cheaper by 9% or more, because overhead for the businesses that manufacture and vend them just went down by 15-22%.

Maybe there could be a transition plan for funds saved pre-999 (non IRA/401(k)), but this is benign even as is.


112 posted on 10/16/2011 5:49:46 AM PDT by HiTech RedNeck (There's gonna be a Redneck Revolution! (See my freep page) [rednecks come in many colors])
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To: mylife

Cain will add a federal sales tax and although I am not particularly happy with that, the economy will undoubtedly boom as we shift from consumption to production.


113 posted on 10/16/2011 5:49:53 AM PDT by palmer (Before reading this post, please send me $2.50)
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To: palmer
I doubt Perry is for the 35-35-0 and unless you have a link you shouldn't make those claims. Perry has said before to cut the corporate tax. I assume making Bush's tax cuts permanent and getting a balanced budget amendment passed is on his agenda too. I know he publicly backed Congress's Cut,Cap and Balance plan.
114 posted on 10/16/2011 5:51:43 AM PDT by normy (Don't take it personally, just take it seriously.)
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To: normy
This is about winning elections too ya know.

If we require class warfare to win elections (or pandering to class warfare) then we have lost. Taxes on the rich are nothing but a ball and chain on the economy, our entrepreneurial class is strong enough to overcome them for now, but that won't last forever.

115 posted on 10/16/2011 5:53:19 AM PDT by palmer (Before reading this post, please send me $2.50)
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To: normy

Where does it say in his plan theat presciption drug’s and food will be taxed? Most states have those as tax exempt.


116 posted on 10/16/2011 5:54:43 AM PDT by Dusty Road
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To: HiTech RedNeck

Prove it.


117 posted on 10/16/2011 5:55:16 AM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: Erik Latranyi

I’d like to see a flat rate, paid by everyone... with not exemptions.

That, and the corporate income tax rate ended, with the legal ‘person’ that a corporation ‘is’ paying the standard flat-rate personal income tax rate.

I figure it ought to be around 16-18%.


118 posted on 10/16/2011 5:57:33 AM PDT by gogogodzilla (Live free or die!)
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To: normy

Where is Perry’s plan? I would like a link to what Perry thinks about our nominal corporate tax rate, the highest in the developed world. About all it does is allow politicians to dole out breaks to make it more competitive with the rest of the word (although still very high). Taxes on corporate profits take away from R&D and expansion (except where the benevolent Congress doles out breaks for those items).


119 posted on 10/16/2011 5:58:11 AM PDT by palmer (Before reading this post, please send me $2.50)
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To: palmer

Who is going to consume with an additional %9 tax?

The economy is stagnant now.


120 posted on 10/16/2011 5:58:11 AM PDT by mylife (The Roar Of The Masses Could Be Farts)
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