Herman Cain

[Warriorbird]

Ill be voting for Romney, according to my civics class me and the 5 other registered republicans in baltimore will make a huge difference.

You guys should totally have a MMA match to decide which candidate gets your primary win. In costume.

[g++]

Everyone would show up with guns. It is Baltimore. Plus Im pretty sure the Maryland republican primary is scheduled for three months after the general election anyway.

[ClydeR]

Here's a critique of Cain's 999 plan by Daniel Mitchell at Cato. He says that the business flat tax in Cain's plan would be a VAT.

I'll just point out that you are all extremely lucky to have an opinion leader like me in this forum. I posted that it was a VAT long before everybody else recognized it.

[Gan]

+10 awesome points

[Cephalopod]

What Could Cain’s 9-9-9 Plan Mean For You?

“Relative to the current system, it is a big improvement,” William McBride, an economist with the Tax Foundation, told ABC News. “9-9-9 is fundamentally scrapping the tax code and starting over, and there is very good reason to do that.”

However, a much longer list of economists say Cain’s plan would be a tax hike for the lower middle class and a tax windfall for the wealthy.

If you have a family of four with an income of just under $50,000, they could end up paying more under the Cain plan. Currently, they are taxed around $3,850 in income tax. Under Cain’s plan, they would be taxed at 9 percent or pay $4,500.

That’s $650 more.

Although the family would save almost $4,000 in Social Security taxes, it would have to give up the child tax credit worth the same amount. Furthermore, it would pay an additional national sales tax of 9 percent on everything purchased, including groceries and clothes, which totals about $2,000.

That means under the Cain plan that family could end up paying $2,725 more.
“It’s going to raise the price of just about everything by about 9 percent,” said former George W. Bush economic policy adviser Bruce Bartlett. “We know from experience and analysis that that tends to hurt people with low incomes.”

The Cain campaign says that his plan will not hurt people with lower incomes because under his plan employers would save $4,000 in social security taxes. That money could then be passed along to the employees creating a system in which everyone benefits.

[Rinualdo]

Even if this guy is elected, there is no chance it will get through Congress.

[Gan]

Even if this guy is elected, there is no chance it will get through Congress.

This can be applied to any 'new' tax scheme that is touted or promised by any candidate.

There's no way our tax system will be changed without an outright revolution. Too much money and power is held by our Federal Government with the current tax system.

[Latrinsorm]

Everyone would show up with guns. It is Baltimore. Plus Im pretty sure the Maryland republican primary is scheduled for three months after the general election anyway.

That was funny.

The Cain campaign says that his plan will not hurt people with lower incomes because under his plan employers would save $4,000 in social security taxes. That money could then be passed along to the employees creating a system in which everyone benefits.

This was funnier.

Is there any chance we could get a Cain-McCain ticket?

[Keller]

Herman Cain's 9-9-9 plan is analogous to Obama's health care reform.

It may provide long-term savings for the nation, but it the uncertainty surrounding its affects on the current business environment will cause immediate hardship.

[Parkbandit]

How are you getting that Obamacare will provide long-term savings for the nation?