Bloomberg Debate Tonight!

[Michael The Disciple]

Someone could run as an Independent and draw away just enough votes for the Dems to keep control.

[RandyWayne]

Rock me like a Herman Cain!

http://www.foxnews.com/politics/2011...-lead-in-poll/

[Pressing-On]

Originally Posted by RandyWayne

Rock me like a Herman Cain!

http://www.foxnews.com/politics/2011...-lead-in-poll/

The National sales tax is going to give him a problem. It gives the government a new revenue stream to play around with.

Herman Cain’s 999 plan: a misleading pitch

The Pinocchio Test

We can excuse Cain inflating his adviser’s resume, but his campaign needs to do more to address the fuzzy math behind his tax plan. (We asked the campaign for a copy of Lowrie’s analysis but did not receive a response.)

Give Cain credit for thinking boldly, but he’s not talking clearly. As far as we can tell from the limited information Cain has provided, the plan he touts as a big tax cut would actually increase taxes on most Americans. Just like it would be wrong to claim pizza is a low-calorie meal, Cain’s description of the plan’s impact on working Americans is highly misleading.

http://www.washingtonpost.com/blogs/...zPgL_blog.html

[RandyWayne]

Of course the media will not like Cains plan. With 47% of the population already paying no income taxes and most of them actually getting BACK tax rebates (go figure), ANY sort of flat tax will result in cries of protest about the "working poor" being hurt. In reality it is the four guys who are drinking beer for free who are blaming the top earner who is paying for 70% of the bar tab that they are being unjustly punished.

[Ferd]

Originally Posted by Pressing-On

The National sales tax is going to give him a problem. It gives the government a new revenue stream to play around with.

This is my big issue with Cain.

I dont care if we go to Fair Tax (national sales tax) or if we keep some fixed version of an income tax.

What I do very much care about and stongly oppose is getting a VAT (sales tax) BEFORE we get rid of the income tax.


Congress only gets 1! and I wont be happy if we end up with both.

[Ferd]

Personally I think the Fair Tax is the best.

It is a sales tax with a Pre-bate built in.

Everyone in the country gets the equivalent of the Tax rate, times the first 30K of income (or what ever they set as the minimum.)

So if the tax rate is 10%, everyone gets a check at the start of the year of $3K.

Then if you are in that low income bracket, you effectively pay no taxes. and if you make more/spend more, you are only taxed on what you do spend.