Herman Cain explains his economic plan with salt shakers

[toemasie]

It's easier to understand with Pokemon cards....

[bsharker]

HC > Obama

[mmaier2112]

Further, it is STILL going to cost money to collect these taxes. Less, maybe. But you are not going to have zero processing and zero collection costs.

Pull the other slice of pizza, Cain.

[mmaier2112]

It's an idiotic plan. Why "reproduce" the same amount? Why in the world does Cain or anyone else think that the govt deserves the amount of loot it's robbing us of today?

How about HALF? That sounds like a nice START. Not an end point.

And regression analysis does work on Wall St or anywhere else for future projections. Economic ignorance is amusing, but painful when you implement plans based upon it.

[jfsfrnd]

No payroll tax. What happens to Social Security, Medicare and Unemployment?

[felixicon]

wow.. numbers. they don't lie

[RingerDaMan]

Thanks for this nugget Herman. The key words people were waiting to hear were "Regression Analysis". That's because so many people think 9-9-9 is just a gimmick instead of actual mathematical analysis.

Play to this strength of yours Herman. Wow them with the knowledge they don't think you have.

[jfsfrnd]

@RingerDaMan Moving salt shakers around is ''mathematical analysis''?

[jfsfrnd]

It's called tax the homeless, children, retired seniors, low income families and the disabled AN ADDITIONAL 9 PERCENT SALES TAX that they don't have to currently pay.

[drinfested]

@jfsfrnd Exactly. It is a fact that most poor people spend their money because they simply cannot invest it. Their hard earned money is spend on goods and services for themselves and their families.

If you imagine a state that has a 7% sales tax, and a poor family of 4 making $20,000 a year, you can easily calculate that if that family spends $15,000 on products they buy, that is $1050 per year spent ONLY on sales tax. Now slap a 9% federal sales tax to that, and you get $1350!

[drinfested]

@jfsfrnd Combined that is $2400 per year on sales tax alone! For a family of 4 with a $20000/yr income, that is a HUGE number. It is basically an income tax that applies to poor people, and will hurt nobody but the poor and middle class. The upper class uses most of their money to invest, save, and do other things, not necessarily spend, and so they will be largely unaffected.

Even if the federal tax replaced state sales taxes, it would still be an increase for most people. My state is 7% rate.

[jfsfrnd]

@drinfested Cain said his 9 percent federal sales tax wouldn't replace the state sales tax but be added to it. Did you see him claiming it was apples and oranges to Romney at the debates?

[drinfested]

@jfsfrnd Yes I did. I can't imagine paying 7% plus 9% on every thing I buy at Wal-Mart, Lowes, the grocery store and other places.

[jfsfrnd]

@drinfested Yeah, wanna bet when the poorest peoples money would run out faster the Conservatives would belittle them for having bad spending habits. They didn't purchase enough of those used goods. :)

[fascistcat]

A national sales tax is unconstitutional. That should be the end for Herman Cain.

Secondly, every plan has to be weighed not simply for "will it work?" But also for "will the Liberals be able to corrupt this to enslave my children?"

Answer - Yes, of course.

Why anyone would support a Constitutional Amendment for a national sales tax without first abolishing the 16th Amendment is beyond me.

[stlsaint1]

@fascistcat If you would actually read the plan, the "sales" tax is only on NEW sales meaning technically this is a optional tax. If you only buy pre-used vehicles, homes, jewelry, etc then you will not pay that tax on those items.

[fascistcat]

@stlsaint1 You said, "..the "sales" tax is only on NEW sales meaning technically this is a optional tax." What, and that makes it Constitutional? By your definition, aren't all taxes optional? I mean, you choose to work, feed your family and stay warm, right?

I personally would prefer a sales tax, but follow The Constitution. Come up with an amendment that abolishes the 16th Amendment and gives authority for the sales tax.

Show some respect for those who died to give you this republic.

[stlsaint1]

@fascistcat If you want to get that in depth than YES. All taxes are optional on paying them (technically) but of course we know the consequences of that. Yes a amendment may be necessary but that doesn't mean Hermain Cains plan isn't sound.

Also im currently serving in the US Army so redirect your statement of showing respect elsewhere.

[fascistcat]

@stlsaint1 The Constitution does not allow for a national sales tax. Period.

An act of Congress cannot bind future Congresses to a 'super majority.' Period.

I like Cain's personality and life story, but we can't allow any more unconstitutional nonsense. I am horrified that not one of the other contenders threw dirt on his political grave over this. I say, "Nein, nein, nein!"

If you really served, thanks, but it is irrelevant. Stop arguing using the 'appeal to authority fallacy.'

[CrusaderAmerica]

hehehe watch out Obama the Hermanator is a comin your way!

[stazandjeve]

i like the fair tax, but it is a hard sell, this will work....cain/west 2012

[rubbersole79]

Those who insist on paying more are certainly free to do so.

[rubbersole79]

Check please!

[ElectHermanCain2012]

Realistically, this 9-9-9 across the board tax plan could be increased by a future administration, but my feeling is...what do we expect? After the horrible leadership of Bush and Obama, we are going to have to pay for their mistakes. Herman Cain is a snazzy looking dude, but we aren't going to get out of this mess on our good looks.  We HAVE to pay up, and it better be now rather than later. The longer we put it off, the deeper we dig ourselves in.

[shmiggen]

Schools, parks, libraries and hospitals are not "extraneous crap". Without them - we are Bangladesh.

[shmiggen]

Better idea: 15% corporate tax rate. 15% flat tax on everyone. 5% national sales tax. I'm sorry but 9 9 9 is too low. There wouldn't be any schools, parks, libraries or hospitals. We'd be living in the Philippines.

[Berelore]

@shmiggen

Better Idea how about you stop funding all that extraneous crap and let the people who use the service pay for it. Assuming for a moment that taxes aren't just a shell game.

From 1776 to 1862 no income tax existed government funded itself through user fee's, duties, imposts and excises. In 1862 due to pressure from the civil war they got rid of it in 1872. It briefly reappeared only to be found unconstitutional in 1895 and was not re-instituted til after 1913.

[6024691380]

@shmiggen worse idea, who goes to the library?  get a kindle

[shmiggen]

@6024691380 There is still too much information that cannot be found on a kindle. Public records and such.

[shmiggen]

@6024691380 There is still too much information that cannot be found on a kindle. Public records and such.

[dezldummi]

how about reducing the revenue by reducing the monster size of the federal government....

[Sophos999]

@dezldummi

Why the fuck would you want to reduce revenue?

[rubbersole79]

@Sophos999

Because they continue to piss away money like it's water with no conscience whatsoever.

[Sophos999]

@rubbersole79

Revenue isn't the problem. It's management and upkeep.

[TheInfiniteSpiral]

Hey Herman - what is the probability that a simple regression analysis would come up with a perfect numerical soundbyte?

[bsharker]

yes

[Berelore]

yea hope you're not a business owner then you're paying taxes 3x on the same earnings. You're taxed on all the money that comes into your business, you're taxed on what you have left after you've payed your people, and then you're taxed on it again every time you use it for something. Not the worst plan I've seen but far from ideal.

[Achiiles13]

@Berelore You're taxed on all those things right now anyway. They pay the federal income tax, capital gains tax, not to mention paying employees, and benefits. Right now corporate tax rate is as high as 35%. I'm not saying this plan is the most amazing plan on the face of the earth, but it better than the one we got.

[Berelore]

@Achiiles13

Didn't say it was worse than what we have, however, after doing the math really the 9 9 9 plan boils down to a ~25% tax rate yay for cuts but I'd much rather have a system that was fair across the board.

I submit that the only tax if any that should be levied should be a sales tax, it captures all of the black market income, while taxing people only for what they personally use.

This is of course conceding that there should be income tax at all, which I am in principle opposed.

[p3on]

what the fuck

[Patashu]

truly the height of intellectual analysis, Herman Cain

[FreeRE1]

Great Job Herman!