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 ...
Capitalism is driven by capital which requires deferred consumption. If someone consumes, that capital is gone and can't be invested.
>> That is just like the “saved or created jobs”, it can’t be measured and is nothing but spin.
:-0 YOU BROKE THE CODE! You dog!
Yeah, the EPA and environmentalists are after his scalp.
I believe Gov. Perry’s full economic speech will be Oct 25th.
Hows that 401K working for ya?
Dont forget, you get to pay taxes on that and then Hermans gonna tax it again!
The way I read it there will only be a 9% max tax on withdrawls from a 401 since those withdrawls are treated as normal income. Depending on how I spend or what I buy there may only be an additional 9% on those purchases. Even if I end up getting the full hit on some items it’s still cheaper than the rate I will pay now on normal withdrawl.
You can count on this....
Under Cains plan your sales tax will go up %9 and the FEDs will be on you for it.
You can start by pointing to a written Perry plan. I have listened for 1/2 hour now and Perry is just spouting rhetoric against Obama’s war on energy. I agree with the rhetoric, but I want more specifics especially on taxes.
As a conservative who likes both Cain and Perry, wish I could be here to interact in this conversation.
Questions regarding policy are legitimate and we should look at both candidates to see who is the best conservative to defeat Romney.
Looking forward to reading this when I get back from my son’s Fall Ball Wood Bat league Doubleheader.
Since you brought up the 401 need I remind you that the money in there has yet to be taxed?
The reason his plan is revenue neutral is because you get the 47% of americans that are not paying taxes to pay taxes. Thats not including and visting foreigners that buy things and all the criminals that pay no taxes.
People that lived under the old system and paid taxes all their life aren't going to vote for a new system that taxes them again on everything they have. 999 is DOA.
If you have a ping list, please put me on it. I am especially interested if there is a transcript or written plan that I can read (video is horrible on my internet connection)
We had one Perry hater who tried to paint Perry as a rapist.
One who tried to paint him as a porno loving homosexual
and one who tried to paint his as a fake Christian.
Oh and then you have the ones who would rather take someones word who just 3 weeks ago they barely knew existed, who hovered at 4%, that he was gonna build a 20" high electrified fence with barbed wire at the top, all along the border and the fence would have a sign saying, "this will kill you".
Now tell me Cain is not trying to pull the right into Romney's camp when he picks him as his VP.
Then you’ll need a government that doesn’t inflate our money supply, dropping it’s value every year.
You’ll also need a government that doesn’t tax savings interest or capital gains.
And I really don’t see how Cain’s plan would do that. It’d help companies, but as for the individual saver... I just don’t see it.
My current tax bracket has me pay 15%. Sure my income tax rate would drop to 9%, but then I’d pay a 9% sales tax... equalling 18%. As a whole, I might save a bit more, as the 9% sales tax would fall on my consumption.
But then, what kind of consumption are we talking about? Is my apartment rent considered ‘consumption’, fit to be hiked an additional 9%? I *AM* buying the apartment month by month, you know...
Same for food, electricity, gas, utilities, sewage, trash collection, internet, cable, phone.
Will these rise an additional 9%?
Or is it on the more traditional point of sale transactions?
I’m just a heartless guy who makes decisions based on peoples last name. Perry isnt presidential
>> Under Cains plan your sales tax will go up %9 and the FEDs will be on you for it.
Not only... but also consider this.
Since the plan is revenue neutral, for every “winner” (say, corporate tax is reduced) there *has* to be a “loser” (for example, a low-compensated person now pays more income tax).
This MUST be, as surely as night follows day, if the plan is indeed revenue neutral.
So, a business “winner” that employs low compensated “losers” may WANT to reduce prices, but will be unable to because the “losers” clamor for more money in salary to pay their increased taxes. And, remember, competition works both ways. If business “A” refuses to raise salaries, they will lose workers to business “B” who will increase salaries to market level, and so “A” will go out of business.
Sure, this is a contrived example, but so is the simplistic scenario where businesses suddenly drop prices 9% or more. My scenario is more sophisticated; it takes more variables into account and deals with the zero-sum nature of the issue.
For me, 9-9-9 is a gimmick. BECAUSE it is revenue neutral, it won’t have the stimulative effect that so many attribute to it — and the downside (a new federal revenue stream) is a HUGE liability.
If Cain’s plan was revenue-adverse and coupled with a plausible plan to cut SPENDING and REGULATIONS to the bone, I’d be all in. But that’s not the case.
You forgot the barf warning
Why not complain about the democrat socialists like Obama, Reid, and Pelosi... They’re medieval tax plan works like this:
Democrat Socialist tax plan = 30% federal, plus fica, plus state, plus local sales tax,
Plus capital gains tax on top of that if you choose to invest any of your income outside of a 401k.
Plus death tax where it’s taxed again when you die.
Democrats Socialism really sucks when you look at the tax rates.
You are just all over the place. You want the current tax rate? That probably means you dont pay any and want everyone else to pay for you.
I wouldn’t have any deductions. None, zilch, zippo.
As for income, if it was paid to you with no stipulations to be respent, than it’s income. (So if you required to sell stock for reinvestment, then that doesn’t count, as it never made it ‘home’ to you, so to speak.)
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