How can you not like Herman Cain?

[Kuros]

Do you pay for jets, yachts, 50,000.00 or more on each and every piece of jewelry?

Laughable.

They are paying 9% on that.

But....

The 15% they were paying in capital gains is now gone.
The 15% they were paying on dividends is now gone.
The top marginal rates are gone...that 36% bracket just went to 9%.

No the 15% does not go away it goes down to 9%
It will help get the stock maket going and will make it more stable.
Think about how this will help all of the regular people who have 401(k)

Its a flat tax. A flat tax is more regressive than a progressive income tax.

Anyone making less than $200,000/year should prefer a progressive income tax. Anyone making more than $200,000/year can nevertheless afford a progressive income tax.

 

[peach174]

you are ignoring state sales tax.

Mass is 5.5 % on goods. that means i or you would be paying 14.4% on a tv for taxes.

There goes any real savings.....

Not when that 500.00 TV goes down in price by 26%
That 500 dollar TV goes down to 370.00.
You are paying a 35% corporation tax.
Corporation tax goes down to 9%.
If corporations don't lower their prices, the entrepreneurs will, it's competition.
Lets say we get this in place corps now pay 9% and that TV of theirs is still at 500.00
Joe Smith opens a store and sells it for 370.00 or 400.00 who are you gona buy from?

no, prices are not going to go down. least not in the sense you are talking about.

this is just dumb. You dont drop taxes to 9% and then expect to see consumer prices to drop by 26%. Thats just stupid

Did you read my link?
Hidden taxes are anywhere from 23% to 30%
Things would come down anywhere from around 14 to 21% (so I'm of by 5% at 26%)

 

[rdean]

Easy,

First he whines about Democrats using the "race card" then is insulted over "Camp Niggerhead", around for decades.

Then he "rails" at Obama for the way Obama "talked" to black people, then insists black people are so mentally weak and unable to decide for themselves because they are all "brain washed" by Democrats.

This is typical Republican behavior. Actually, it reminds me of Warren Buffet. When he said that he pays less in taxes than his secretary, Republicans scream that he should be donating to the Government. But when Republicans scream "end Social Security" and "Medicare", notice, none of them are giving back the money.

 

[DontBeStupid]

Do you pay for jets, yachts, 50,000.00 or more on each and every piece of jewelry?

Laughable.

They are paying 9% on that.

But....

The 15% they were paying in capital gains is now gone.
The 15% they were paying on dividends is now gone.
The top marginal rates are gone...that 36% bracket just went to 9%.

No the 15% does not go away it goes down to 9%
It will help get the stock maket going and will make it more stable.
Think about how this will help all of the regular people who have 401(k)

401(k)'s? You mean the ones that already grow tax-free?

And what will go from 15% to 9%? Cain is advocating doing away with ALL taxes on capital gains.

 

[DontBeStupid]

Not when that 500.00 TV goes down in price by 26%
That 500 dollar TV goes down to 370.00.
You are paying a 35% corporation tax.
Corporation tax goes down to 9%.
If corporations don't lower their prices, the entrepreneurs will, it's competition.
Lets say we get this in place corps now pay 9% and that TV of theirs is still at 500.00
Joe Smith opens a store and sells it for 370.00 or 400.00 who are you gona buy from?

Corporations pay taxes on profits. Not on pure revenue. They also don't pay the full 35% on ALL their profits.

I don't think you understand how corporate taxes work, but trust me, dropping their rate to 9% will NOT make TVs cheaper.

I don't think that you understand.
Corporate Welfare and Hidden Taxes

I know all about hidden taxes. I also know there is nothing in Cain' 9-9-9 plan that forces companies to pass along those savings in the form of reduced prices. I HIGHLY doubt any company will do that, just to be nice, especially when the 9% sales tax affects them when they buy raw materials.

 

[JoeB131]

I don't dislike the guy. I just don't know if he has the experience, temperment, etc. to be president.

He's been a very good businessman. He's a very smart man. But being president isn't the same thing.

 

[Ravi]

He's just not very bright.

Fox News' Chris Wallace recently asked Cain "[H]ow do you guarantee that 9-9-9 down the line doesn't become 12-12-12?"

Cain responded, "In the legislation that I'm going to ask Congress to send me, I want a two-thirds vote required by the Senate in order for them to change it. That will impede cavalierly raising it."

There are two significant problems with this.

The biggest is that creating a legal requirement binding future Congresses to impose supermajority requirements on themselves to change tax law is likely unconstitutional. That means Cain's plans would either need to change the Senate rules directly, or the Constitution itself. In either case, he'd need a two-thirds vote in the Senate just to pass his 9-9-9 plan. And that's not gonna happen.

"Senate rules, ok; but one legislature cannot bind another," emails Charles Fried, a Harvard law professor who served as Solicitor General under Ronald Reagan.

Cain's 9-9-9 Plan Makes Experts Dial 9-1-1 | TPMDC

 

[peach174]

Laughable.

They are paying 9% on that.

But....

The 15% they were paying in capital gains is now gone.
The 15% they were paying on dividends is now gone.
The top marginal rates are gone...that 36% bracket just went to 9%.

No the 15% does not go away it goes down to 9%
It will help get the stock market going and will make it more stable.
Think about how this will help all of the regular people who have 401(k)

401(k)'s? You mean the ones that already grow tax-free?

And what will go from 15% to 9%? Cain is advocating doing away with ALL taxes on capital gains.

Capital Gains is when you sell your stock.
You have a capital gain when you sell a capital asset for a profit. Any asset you hold as an investment (stocks, bonds, real estate, for example) is a capital asset.
That will be a sales tax of 9%.
What does the stock market do? It Buys and sells
9% when you buy, 9% when you sell. That goes from 15% to 18%
You pay your Tax when you cash in your 401(K)

 

[jillian]

How can i not like him?

As a person, I don't know him.

As a politician, I think he's wrong about most everything.

but i wouldn't worry about it, he's not gong to be the repub nominee.

why not? I mean about becoming the nominee

because he doesn't even have double digit support among republicans and his views are too extreme and not sophisticated enough to appeal to romney/perry voters. if christie gets in the race, i'd say cain is a total goner...

flavor of the month... like giuliani and thompson in 2008... like bachmann and huntsman and perry will be. if christie gets in the race it will be between him and romney and, maybe, perry. that is where the money is... that is where the votes will be.

 

[Dr.Traveler]

I'd like to know more about him, but he's on a short list of Republicans I could get behind.

 

[Flaylo]

I do like Cain. Very much.

Wouldn't hesitate to vote for him if he gets the nod.

Cain is a been there done that kinda guy. Good head for business and he knows how to get things done.

Rather lacking in the Foreign Affairs Dept but if he picks a good VP with FA cred and a savvy smart cabinet no reason he wouldn't make a fine POTUS.

Fucking funny, you are a comedian, too bad Cain doesn't have the same confidence in his party that you have for him and jusging by this below we know who he will blame if he doesn't succeed.

Atlanta Metro News*| ajc.com

Q: African-Americans have typically ranked as among the most socially conservative ethnic groups over the years on social issues such as crime, religion and education, but the Republican Party has never been able to parlay that into inroads within the black community. Most recently, 2006 was supposed to be the Year of the Black Republican, but even those hopes were dashed with the high-profile gubernatorial losses of Michael Steele (Maryland), Ken Blackwell (Ohio) and former NFL star Lynn Swann (Pennsylvania). What will it take for the Republican Party to become a more viable option to African-Americans?

A: A breakthrough African-American candidate who's going to have to break through on his own. The party is not going to push him. I was so disappointed in 2006. Michael Steele could have won if the Republican Party had really rallied behind him. Lynn Swann probably would have been an uphill battle. Ken Blackwell in Ohio, he and Michael Steele both had worked from within the party and paid their party dues. Ken was [Ohio] secretary of state, Michael was lieutenant governor; but then, when they go for the big one, [the Republican National Committee] wasn't there for them. They should have pulled out all the stops to help them, but they didn't. The state can only do so much, but the national party could have done more if they really wanted to.

It kind of makes me scratch my head wondering why this dumbass called African American voters brainwashed. He's just the latest in a long line of black puppet Repugs are trying to use to build some credibility in race relations upon. He's not stupid, he's using you idiots.

 

[Flaylo]

Ah, fun with math!

So, a person pays $1,998.75 in taxes on $17,000 income or 11.7%. They get to spend 15,001.25.

Under Cain's plan, he would pay $1,530 in income taxes on that $17,000. He would THEN spend $14,200 and pay an ADDITIONAL $1,270 in sales taxes for a grande total in taxes of 16.5%.

And notice, his spending was forced to go down.

So ... you were saying? Something about it not being a tax hike for the poor?

I liked the part where he claimed the sales tax means the wealthy will pay more now all while ignoring the slew of enormous tax cuts they will be receiving.

and leaving out state and state sales taxes

I like how Repugs take a blind eye towards the regressive payroll tax that tops out at about $106,000 and insist on a middle class tax hike, ignoring that everyone making more than that amount pays noy payroll tax.

 

[PLYMCO_PILGRIM]

How can i not like him?

As a person, I don't know him.

As a politician, I think he's wrong about most everything.

but i wouldn't worry about it, he's not gong to be the repub nominee.

why not? I mean about becoming the nominee

because he doesn't even have double digit support among republicans and his views are too extreme and not sophisticated enough to appeal to romney/perry voters. if christie gets in the race, i'd say cain is a total goner...

flavor of the month... like giuliani and thompson in 2008... like bachmann and huntsman and perry will be. if christie gets in the race it will be between him and romney and, maybe, perry. that is where the money is... that is where the votes will be.

Whoa whoa whoa...hold on a second.....thats not a good reason and this is why.

Herman Cain wins TeaCon straw poll | abc7chicago.com <----77% in the teacon (teaparty conservatives OMG) picked him

http://www.nfrw.org/documents/convention/2011/pollresults.pdf <-----48% of the National Federation of Republican Women support him (most by far of any canidate)

I still believe that obama is beating him in the "Cain V Obama" polling which is a weak point for him obviously....but he has a TON of conservative republican and conservative tea party support.

 

[PLYMCO_PILGRIM]

Also his 999 plan does not tax capital gains or tax inheritance income so I was wrong about that (from the discussion in here yesterday).

For me to support the 999 thing any longer that would have to change, i dont agree with no cap gains taxes at all. If he made that 9% too I would be more inclined to support the idea again.

I like parts of it a lot but without that I dont find it acceptable.

 

[peach174]

He still needs to explain what the empowerment zones are, for tax deductions and tax credits.