Herman Cain

[Booth]

Any 999ers out there? I can't see a 9% tax rate for the rich going over very well with the general public. And a 9% sales tax? Tough sell.

[WyldemanATX]

He is getting rid of all the loop holes so at least they will be paying.

[theaustinescorts]

This guy has an interesting past. The pizza gig was just one of many finance positions. I think he said recently that if anyone in this country isn't a millionaire they have only themselves to blame. He's a very sinister individual.

[cckid2006]

Having lived in a slum and been raised by a single mother, I agree with the man. Not sinister at all and he was misquoted by the press that are afraid he might have a chance. A little of his bio for those wanting to know the truth:
http://www.hermancain.com/about
The man has creds!

Also, checkout this movie (true story):
http://www.imdb.com/title/tt0338109/

[Oldernwiser]

It's absolute BS. As POTUS, he would have no ability to get that passed.

[WyldemanATX]

He has been my favorite all along and he wants to get rid of the IRS.

[budman33]

He makes more sense than the rest of the pack, which means of course that he stands no chance to get the GOP nod.

[thehobbydude]

Beautiful - Let's burden all the working class people with an 18% tax + local taxes. If you make $1,000,000 and you pay 9% in income tax, you're paying $90,000, but you are not likely to spend the remaining $910,000 consuming. so you're effectively paying less than someone making $40,000 who has to pay $3,600 in income tax and on top of that pay an additional $3,276 in the national sales tax + local taxes as you're more likely to spend every penny you make to live. Remember whether you make $1,000,000 or $40,000 you're not going to use more toilet paper when you go to the bathroom. That's where the fairness gets lost - people at the lower income brackets will be paying more as a percentage of their incomes than the top 5%. Talk about curbing consumption with the vast majority as people will stop consuming and spending to start pinching pennies. And remember that 70% of our economy is consumer driven so even the 51% that you claim don't pay taxes, still consume. With this plan, the consumption with the 51% in addition to the remaining of the working class will be greatly reduced. Get ready for a real depression folks, as for me, I'll be out of here as I'm multilingual. Good luck with the experiment!

P.S. Before you accuse me of being an Obama fan boy, I'm not. Both Dems and Republicans are in bed together and are screwing the American people. If you believe either party is better than the other, just look at the mess created over the last 30 years by both parties.

[Yssup Rider]

I find his tax proposals creative but ultimately ludicrous. Not only do they continue to favor the rich, but they'll never be passed. Chit, most of them won't even be considered. Which self-deprecating (or is that defecating) member of Congress is going to file them?

His interpretation of the Constitution as it pertains to things like the Bill of Rights, for example, is also laughable.

He's the flavor of the month in a tasteless field. Like Perry, people will begin to pay more attention to Cain and he'll be irrelevant in a couple of weeks.

It's going to be Romney, cult member or not.

To paraphrase Herman Cain: if you're not getting enough pussy, GROW ONE!

[thehobbydude]

Question: What President increased our debt more than all previous Presidents combined?
Answer: Our beloved conservative icon, Ronald Reagan. Reagan inherited $900 billion an debt and by the time he left office, we were $3 trillion in debt, increasing our debt by $2.1 trillion or about 233%. Since he increased our debt by a factor of 2.3, he truly increased our debt more than all previous Presidents combined. By the way, those $2.1 trillion in 1988 dollars are the equivalent of about $5 trillion in today's dollars.

I keep wondering why Conservatives today think he's a conservative icon. He would be a flaming Democrat by today's Republican/Conservative standards. Makes me wonder if people really inform themselves before repeating what they hear on Fox News.

[Billy_Saul]

Originally Posted by Wyldeman30

He has been my favorite all along and he wants to get rid of the IRS.

Actually 9-9-9 does not eliminate the IRS as there will continue to be an income tax of 9%, which to me is the flaw in his plan.

[Yssup Rider]

Money for nothing and your chicks for free...

Obviously you care only about yourself, BS.

[F-Sharp]

I guess I need to repost this for the slow kids at the back of the room. 2009 was the most recent data I could find, but even if it's $1 trillion different, Cain is still completely off his rocker!

Total Retail Sales - 2009: $4,091,723,000,000
9% = $368,255,070,000

Total U.S. Wages Paid - 2009: $5,900,000,000,000
9% = $531,000,000,000

Total U.S Corporation Profits (rough guess based on quarterly data avg. of $1.25 Tril) - 2009 : 5,000,000,000,000
9% = $450,000,000,000

$368,255,070,000 + $531,000,000,000 + $450,000,000,000 = $1,349,255,070,000 of total U.S. revenue under Cains 9/9/9 plan.

Current U.S. yearly budget = $3,700,000,000,000

Whoops! Someone's still $2,350,744,930,000 short!

Cain's 9/9/9 plan would barely cover 38% of our current obligations. You'd need a 23/23/23 plan just to break even, and that doesn't even begin to start paying back the $14.3 trillion plus interest we already owe.

[F-Sharp]

I know this is a general statement, but most people making over $1 million a year are probably not working for a living and enjoy a substantial amount of income through capital gains, something Cain wants to further reduce or get rid of entirely.

Cain's plan clearly does not favor the other 99% of us.

Originally Posted by thehobbydude

Beautiful - Let's burden all the working class people with an 18% tax + local taxes. If you make $1,000,000 and you pay 9% in income tax, you're paying $90,000, but you are not likely to spend the remaining $910,000 consuming. so you're effectively paying less than someone making $40,000 who has to pay $3,600 in income tax and on top of that pay an additional $3,276 in the national sales tax + local taxes as you're more likely to spend every penny you make to live. Remember whether you make $1,000,000 or $40,000 you're not going to use more toilet paper when you go to the bathroom. That's where the fairness gets lost - people at the lower income brackets will be paying more as a percentage of their incomes than the top 5%. Talk about curbing consumption with the vast majority as people will stop consuming and spending to start pinching pennies. And remember that 70% of our economy is consumer driven so even the 51% that you claim don't pay taxes, still consume. With this plan, the consumption with the 51% in addition to the remaining of the working class will be greatly reduced. Get ready for a real depression folks, as for me, I'll be out of here as I'm multilingual. Good luck with the experiment!

P.S. Before you accuse me of being an Obama fan boy, I'm not. Both Dems and Republicans are in bed together and are screwing the American people. If you believe either party is better than the other, just look at the mess created over the last 30 years by both parties.

[Billy_Saul]

Originally Posted by Yssup Rider

Money for nothing and your chicks for free...

Obviously you care only about yourself, BS.

Why would you say that? I am for a revenue neutral tax system that eliminates the costly bureaucracy that is the IRS.

http://www.fairtax.org/site/PageServ...ame=about_main

I am sure that the concept of a more efficient government is far over your head YR. There have been 5,000 changes in the tax code in just the last 10 years. It's ridiculous and strangling this economy. If you want a tax code that enriches accountants, lawyers, and special interests then you keep the current system. Good luck competing in the world economy. Cain's plan is certainly not the answer.