Herman Cain

[bluehenbillk]

Larry Kudlow presents an excellent analysis of Cain and his tax plan on rassmussen Reports:

http://www.rasmussenreports.com/public_ ... ode_killer" onclick="window.open(this.href);return false;

"...Cain’s 9-9-9 plan is not perfect. But then again, the good should never the enemy of the perfect.

Congressman Paul Ryan gives the plan a thumbs-up. Supply-side mentor Art Laffer tells me it would be “far, far better than the current system.” And Chris Chocola, president of the free-market Club for Growth, calls it “a truly revolutionary tax reform that would amount to a massive job-creating tax cut on investments, savings, and income.”
..."

Nails it!

This stuff is urban legend, if the answer really was to cut taxes to create jobs wouldn't we be doing that? The reality is there is no such thing as "job-creating tax cuts". Show me where that's happened before??

And while I'm at it - if this plan is so good for businesses and is supposed to be "revenue neutral" from an overall standpoint then where is that revenue being made up? Oh yeah, those 99% people again. Not taking it in the ass this time!!

[JMU DJ]

Larry Kudlow presents an excellent analysis of Cain and his tax plan on rassmussen Reports:

http://www.rasmussenreports.com/public_ ... ode_killer" onclick="window.open(this.href);return false;

"...Cain’s 9-9-9 plan is not perfect. But then again, the good should never the enemy of the perfect.

Congressman Paul Ryan gives the plan a thumbs-up. Supply-side mentor Art Laffer tells me it would be “far, far better than the current system.” And Chris Chocola, president of the free-market Club for Growth, calls it “a truly revolutionary tax reform that would amount to a massive job-creating tax cut on investments, savings, and income.”
..."

Nails it!

This stuff is urban legend, if the answer really was to cut taxes to create jobs wouldn't we be doing that? The reality is there is no such thing as "job-creating tax cuts". Show me where that's happened before??

And while I'm at it - if this plan is so good for businesses and is supposed to be "revenue neutral" from an overall standpoint then where is that revenue being made up? Oh yeah, those 99% people again. Not taking it in the ass this time!!

http://www.ctj.org/pdf/cainplan.pdf" onclick="window.open(this.href);return false;

[AZGrizFan]

http://www.ctj.org/pdf/cainplan.pdf" onclick="window.open(this.href);return false;

Good find, DJ. I think THIS is where the 9-9-9 plan goes off the rails:'

The nine percent individual tax would apply to “gross income less charitable deductions” and would exempt capital gains.

To me, income is income is income. Why they keep insisting on differentiating between sources is baffling. Tax it ALL at 9% and I think that graph looks a LOT different.

[kalm]

Sure, but your income bracket already buys what it needs anyway and represents a small percentage of consumer spending compared with the middle class. Sorry Z, but you can't but enough Bud Light and ebony porn to get us out of the recession.

What kind of tax plan would you like to see?

For starters a far more simplistic one. I like the idea of cutting corporate taxes to stay competitive while closing the loopholes and exemptions that currently pick winners and losers. I also strongly feel that we should be applying a transactions tax on the financial markets to limit the gambling and hedge against future bailouts and instability.

However, I have decided to cut my friend Z some slack and only raise the top marginal rate on those making over $1 million. So Z, I'm afraid your career as a bankster tycoon will have to top out at $999,999.

[Grizalltheway]

http://www.ctj.org/pdf/cainplan.pdf" onclick="window.open(this.href);return false;

Good find, DJ. I think THIS is where the 9-9-9 plan goes off the rails:'

The nine percent individual tax would apply to “gross income less charitable deductions” and would exempt capital gains.

To me, income is income is income. Why they keep insisting on differentiating between sources is baffling. Tax it ALL at 9% and I think that graph looks a LOT different.

I'm guessing it has something to do with wanting to please high-end investors who, I would think, will be Cain's major financial backers.

[AZGrizFan]

What kind of tax plan would you like to see?

For starters a far more simplistic one. I like the idea of cutting corporate taxes to stay competitive while closing the loopholes and exemptions that currently pick winners and losers. I also strongly feel that we should be applying a transactions tax on the financial markets to limit the gambling and hedge against future bailouts and instability.

However, I have decided to cut my friend Z some slack and only raise the top marginal rate on those making over $1 million. So Z, I'm afraid your career as a bankster tycoon will have to top out at $999,999.

I guess I'll have to take a pay cut then.

[AZGrizFan]

I'm guessing it has something to do with wanting to please high-end investors who, I would think, will be Cain's major financial backers.

But, in his scenario, IF we included capital gains, wouldn't the capital gains tax be being reduced from 15% to 9% anyways?

[Grizalltheway]

I'm guessing it has something to do with wanting to please high-end investors who, I would think, will be Cain's major financial backers.

But, in his scenario, IF we included capital gains, wouldn't the capital gains tax be being reduced from 15% to 9% anyways?

I thought the quote said capital gains would be exempted from 9% rule...

[BDKJMU]

Problem is none of the other Republican candidates has advoted what MUST be done: completely scrapping the current tax code that is beyond repair, costing our economy what, 1/2 a trillion a year in compliance costs and running the IRS? Cain is the only one that has advocated that.

[Wedgebuster]

He is toast.

[free7694]

Problem is none of the other Republican candidates has advoted what MUST be done: completely scrapping the current tax code that is beyond repair, costing our economy what, 1/2 a trillion a year in compliance costs and running the IRS? Cain is the only one that has advocated that.

[AZGrizFan]

But, in his scenario, IF we included capital gains, wouldn't the capital gains tax be being reduced from 15% to 9% anyways?

I thought the quote said capital gains would be exempted from 9% rule...

Let me help you out here.


That's why I said "IF".

[GSUhooligan]

The tool was quoted saying that Newt and Romney are his choices for Prez if he doesn't get it. So much for being an "outsider".

[EverRespect]

I fail to see how the 9% corporate tax is going to cost me so much money when my company currently pays 35%. Can someone explain that? It seems there would be more money for pay, benefits, or bonus. That is the part of the analysis I just don't comprehend.

[EverRespect]

Also, for the 9% sales tax to cost be $2311 in a year, Id have to spend $25,677.78 in consumer goods. Other than food, which is exempt, and diapers, I probably don't spend $100 in an average month. What middle income american spends this kind of money? With my independent analysis, I make out like a bandit.

[free7694]

The tool was quoted saying that Newt and Romney are his choices for Prez if he doesn't get it. So much for being an "outsider".

I heard the quote when he said it. He was saying Newt and Romney are the other candidates he has the most respect for based on his interactions with them. I know exactly why he mentioned Newt, they're both Georgians.

[CID1990]

The guy is a leader if nothing else.

We have not seen that in a long time.

[houndawg]

The guy is a leader if nothing else.

We have not seen that in a long time.

True dat. Hell, give him a shot, he can't be any more of a buffoon than W.

[bulldog10jw]

The guy is a leader if nothing else.

We have not seen that in a long time.

True dat. Hell, give him a shot, he can't be any more of a buffoon than W.

Or more incompetent than BO

[Skjellyfetti]

[Seahawks08]

I think he's bowing out tomorrow/later today. My evidence: The fact that he's not on with Huckabee tonight combined with a "big announcement" on his candidacy.

[kalm]

Also, for the 9% sales tax to cost be $2311 in a year, Id have to spend $25,677.78 in consumer goods. Other than food, which is exempt, and diapers, I probably don't spend $100 in an average month. What middle income american spends this kind of money? With my independent analysis, I make out like a bandit.

Unless you dress your kid in deer skins, let it suck the marrow out of bones for a pacifier, etc, I'm guessing you'll spend far more than that on the little bambino alone. And wait till the pacifier turns into pixar movies and PSP's.

[Seahawks08]

He gone.

[DSUrocks07]

He gone.

Scared the establishment too much. Fabricated stories and rumors...well it was fun while it lasted. Looking forward to Romney vs Obama next year

[kalm]

He gone.

Scared the establishment too much. Fabricated stories and rumors...well it was fun while it lasted. Looking forward to Romney vs Obama next year

Funded by the Kochs, he was every bit as much establishment as Romeny or Gingrich. BTW, Gingrich now has a 38%-17% lead.