Herman Cain amplified his criticism Sunday of the growing OWS movement, calling the protesters “jealous’ Americans who “play the victim card” and want to “take somebody else’s” Cadillac. Sure, Cadillacs are probably more comfortable to poop on than police cars – no flashing lights or antennas to distract a fellow. Herman Cain may be America’s antidote to the Obama toxin.
View Comments (9)
Herman Cain's 9 9 9 plan contains two phases with two "enhancement" phases. Everyone is whining about the Fox News claim that 47% of Americans pay no taxes and that is unfair. Well, they don't pay taxes because they earn too little and with standard deductions (like everyone else gets the advantage of) they owe nothing. Cain's plan would do this to them immediately;
9% federal income tax plus 9% tax on everything you buy including food with no deductions of any kind (except charitable donations) for ANYONE. Therefore the bottom tax rate for the poor would effectively be somewhere between 12-18%.
The majority of persons worth 100 million or more AND the majority of individuals earning 10 million a year or more pay rate a of ... 18% according to the I.R.S. Those people and companies under Cain's plan would immediately owe- NOTHING ANYMORE. Yes, the rich and super rich would pay no taxes anymore under 9 9 9. Under the plan companies that pay compensation in shares of stock will be able to expense 100% of that. Companies that then divide profits into a dividend(also expensible) would pay zero taxes. Individuals being paid by dividends from their shares would pay nothing. Remember, these people now account for 40% of the tax base with individuals earning 100% of their annual income from dividends (396 of the 400 richest Americans) paying 25% of all federal income tax.
The "enhancements" would include no more taxing overseas profits at all. Inspiring a wave of off-shoring American jobs as companies eliminate (are rewarded) for doing business overseas. Eventually (as in 1 to 2 years) all corporate income taxes would be eliminated as well as personal income tax but deductions would also be gone (spousal, mortgage interest, dependents etc.). The lost revenue will be replaced with an expansion (read increase) in the new National Sales Tax. The National Sales Tax if figured as a match to total annual government budget now would need to be 30% if applied to G.D.P. There is one major problem with this, the G.D.P. includes business to business transactions which will be non-taxable under 9 9 9. It also includes 1.3 trillion in discretionary spending by government, take out both of those figures and you get roughly 5 to 7 trillion of taxable revenue.
The National Sales Tax would need to increase to 60-80%.
Amazingly that is what the projected inflationary increase Americans would pay for goods under a VAT tax, National Sales Tax plan as put forward under Republicans in the past. So the poor AND the middle class would see their tax burden doubled so that the wealthy and large corporations could stop paying ANY taxes.
"PAY YOUR FAIR SHARE POOR PEOPLE, PAY YOUR FAIR SHARE MIDDLE CLASS."
..so screams the lemmings who listen to Fox New's lobbying campaign for the rich.
This is one of the very reasons the left is so afraid of him. He tells it like it is to those that just want to suck on the government tit and expect others to "give" them everything they want.
The more he speaks, the more people in this administration have to be worried. I love any politician that calls bullshit when he sees it. However Nancy Pelosi had to be asked for her comment and she mentioned members of congress getting spit on by the Tea party folks. That's all shes got? (I don't remember any tea party member being photographed taking a dump on a police car) She did say she supports the (protesters) message..And that would be????...here it comes..."You too can be fat, lazy, stupid, unemployed, liberal and get paid to bitch and moan cause you ain't got no money"....
I've heard Cain do radio work as a talk radio host, & he has zero trouble speaking his mind off the top of his head. I love what he brings to the table, he seems to be a decent man, he's sharp as hell, & he is funny. He said that vs Obama, it would be "Cain vs unable".
I just listened to a video posted on therightplanet.com and the more I hear what he has to say the more I like Herman Cain. He knows how to slap a CNN "reporter" down in no uncertain terms!
Go, Cain, Go!!!!
He would be great, if only he was black to divide the lib vote.
I really like Cain ( so far ) he has an way about him thats comforting.
He's like a Grandpa...
Unlike a Madison Avenue slick Politician (someone mention Romney here?), Cain seems to be truly speaking from his heart...and with conviction. Such a refreshing "change" from all the "hope" that was promised back in 2008 - and with multiple teleprompters as well.