Discussion in 'Economics' started by chaosclarity, Oct 14, 2011.

  1. Eight


    The consumption tax will bring in the entire underground economy to the fold of taxpayers. Every time a drug dealer, illegal alien or a pimp buys a car or boat or a bottle of milk they will be part of the tax base... Those tax revenues alone should be fairly staggering.

    Quote from Herman Cain's site with regard to the 999 plan:

    "Business Flat Tax – 9%
    Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders."

    All investments for expanding businesses will be write-offs... All the stuff that is subcontracted or purchased will be write-offs... dividends will be write-offs...

    I don't see anything bad about that, especially when compared to the ridiculous situation we currently have...
    #31     Oct 14, 2011
  2. What is going around on the web.......

    What you may not know about Herman Cain who is running for president....
    He’s not a career politician (in fact he has never held political office). He’s known as a pizza guy, but there’s a lot more to him. He’s also a computer guy, a banker guy, and a rocket scientist guy.
    Here’s his bio:
    • Bachelor’s degree in Mathematics.
    • Master’s degree in Computer Science.
    • Mathematician for the Navy, where he worked on missile ballistics (making him a rocket scientist).
    • Computer systems analyst for Coca-Cola.
    • VP of Corporate Data Systems and Services for Pillsbury (this is the top of the ladder in the computer world, being in charge of information systems for a major corporation).
    All achieved before reaching the age of 35. Since he reached the top of the information systems world, he changed careers!
    • Business Manager. Took charge of Pillsbury’s 400 Burger King restaurants in the Philadelphia area, which were the company’s poorest performers in the country. Spent the first nine months learning the business from the ground up, cooking hamburger and yes, cleaning toilets. After three years he had turned them into the company’s best performers.
    • Godfather’s Pizza CEO. Was asked by Pillsbury to take charge of their Godfather’s Pizza chain (which was on the verge of bankruptcy). He made it profitable in 14 months.
    • In 1988 he led a buyout of the Godfather’s Pizza chain from Pillsbury. He was now the owner of a restaurant chain. Again he reached the top of the ladder of another industry.
    • He was also chairman of the National Restaurant Association during this time. This is a group that interacts with government on behalf of the restaurant industry, and it gave him political experience from the non-politician side.
    Having reached the top of a second industry, he changed careers again!
    • Adviser to the Federal Reserve System. Herman Cain went to work for the Federal Reserve Banking System advising them on how monetary policy changes would affect American businesses.
    • Chairman of the Kansas City Federal Reserve Bank. He worked his way up to the chairmanship of a regional Federal Reserve bank. This is only one step below the chairmanship of the entire Federal Reserve System (the top banking position in the country). This position allowed him to see how monetary policy is made from the inside, and understand the political forces that impact the monetary system.
    After reaching the top of the banking industry, he changed careers for a fourth time!
    • Writer and public speaker. He then started to write and speak on leadership. His books include Speak as a Leader, CEO of Self, Leadership is Common Sense, and They Think You’re Stupid.
    • Radio Host. Around 2007—after a remarkable 40 year career—he started hosting a radio show on WSB in Atlanta (the largest talk radio station in the country).
    He did all this starting from rock bottom (his father was a chauffeur and his mother was a maid). When you add up his accomplishments in his life—including reaching the top of three unrelated industries: information systems, business management, and banking—
    Herman Cain may have the most impressive resume of anyone that has run for the presidency in the last half century.
    #32     Oct 14, 2011
  3. BSAM


    Hmmm...You suppose there will be some law enforcement officials watching for this and that this activity would be very easy to identify and prosecute?
    #33     Oct 14, 2011
  4. hayman


    Ya, plenty of food experience; I can see those $ 9.99 Sunday Pizza Specials now. Between his food experience, his love for Greenspan, and his bold plan for making the rich richer, he's just what the country need now :)
    #34     Oct 14, 2011
  5. Herman's Cain's msg to OWS

    <iframe width="560" height="315" src="http://www.youtube.com/embed/SHMEC8Xk9cg" frameborder="0" allowfullscreen></iframe>
    #35     Oct 14, 2011
  6. BSAM


    Wow...I'm glad Ronald Reagan came along before the internet was booming.
    #36     Oct 14, 2011
  7. jprad


    The 9-9-9 plan is dumb.

    There is no way in Hell the democrats would allow a tax increase on the bottom 50% of wage earners while the top 50% get a tax break.

    There is no way in Hell the large corporations who pay way less than 9% today are going to let this thing ever see the light of day. Especially now that the Supreme Court has opened the flood gates to campaign dollars.

    Finally, there's no way in Hell a flat sales tax flies. Any candidate that supports it is signing their political death warrant.
    #37     Oct 14, 2011
  8. Arthur Laffer endorses 9-9-9 Plan.

    Godfather of Supply-Side Economics Supports Cain's '9-9-9' Plan
    by Tony Lee

    The Godfather of supply-side economics, Arthur Laffer, has given Herman Cain's signature "9-9-9" economic plan a critical boost.

    The famed economist told HUMAN EVENTS that the proposal was pro-growth and would create the proper conditions for America's economy to expand and thrive again.

    As Cain's profile increases and poll numbers rise, his opponents will attack him more fiercely over his "9-9-9" plan, but it looks like Cain has found an ally in Laffer, an economist who is more than respected by fiscal, pro-growth conservatives.

    "Herman Cain’s 9-9-9 plan would be a vast improvement over the current tax system and a boon to the U.S. economy," Laffer told HUMAN EVENTS in a statement.

    Laffer also said that "such a system provides the least avenues to avoid paying taxes, yet also maintains the strongest incentives for work effort, production, and investment."

    "Mr. Cain’s plan is simple, transparent, neutral with respect to capital and labor, and savings and consumption, and also greatly decreases the hidden costs of tax compliance.

    Added Laffer:"There is no doubt that economic growth would surge upon implementation of 9-9-9."

    #38     Oct 14, 2011
  9. UK 999 - US 911 ~ ' what service do you require ? police, fire or ambulance ?'
    #39     Oct 14, 2011
  10. BSAM


    Dumb? Really?
    Answer these questions:
    1. Does the earnings of a man belong to him or the government?
    2. Should every American be required to pay some tax or should some live here for free?
    3. Are the people taxed too little, or does the government spend too much?
    4. Should an American be able to prepare his own taxes or should the system be so complicated that he has to hire somebody every year to do it for him?
    5. Should the tax system be transparent?
    6. Should the tax system lend itself to all kinds of exploitation by the thugs in D.C.?

    999 still look that bad to you??
    #40     Oct 14, 2011