Isn't that pretty much what they want? It kind of seems to be their strategy. Don't care about the deficit for 30 years. Explode the deficit then whine about it and demand we fix it solely through spending cuts, completely disregarding new revenue.
Why the oil companies won't support Cain? The windfalls profit tax that the democrats have asked about previously and tea party activicsts against will be found in the 9% corporate tax. Cain's corporate tax is on the total revenue. Our current system taxes profits and allows companies to deduct expenses. An example of a large disparity would be oil and gas companies vs technology. Profit Margins of Oil and Technology Giants Apple 24% Microsoft 33% Chevron 11% Exxon-Mobil 9% http://finance.yahoo.com/q/ks?s=AAPL http://finance.yahoo.com/q/ks?s=msft http://finance.yahoo.com/q/ks?s=CVX http://finance.yahoo.com/q/ks?s=xom Of course, taxes are costs that have to be passed on to the consumer. If companies absorb increased taxes on thin profit margins, they eventually go out of business. A 9% revenue tax would be disproportionately affect the energy industry, while the technology companies would benefit more from it. The technology gadgets may be cheaper, since taxes are lower for MSFT an AAPL. Gasoline prices will increase at the pump, due to the 9% revenue tax wiping out oil companies most of the 9-12% profit margin.
cain was just on meet the press and came off like a total dishonest moran and a 1 trick pony. talk about flip-flopping, this guy keeps changing what he says, claiming he was "joking" or just straight up lying about previous statements...most notably when he said he never called people who want to audit the fed 'stupid'. he has made several disparaging comments about anti-fed people and then denied at the debates last week.
Cain did fine. He tried to explain very basic concepts to an incredibly ignorant/unqualified David Gregory. How does Gregory not know what a state tax is? <object width="420" height="245" id="msnbc51e14b" classid="clsid27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=10,0,0,0"><param name="movie" value="http://www.msnbc.msn.com/id/32545640" /><param name="FlashVars" value="launch=44921414^120783^1599512&width=420&height=245" /><param name="allowScriptAccess" value="always" /><param name="allowFullScreen" value="true" /><param name="wmode" value="transparent" /><embed name="msnbc51e14b" src="http://www.msnbc.msn.com/id/32545640" width="420" height="245" FlashVars="launch=44921414^120783^1599512&width=420&height=245" allowscriptaccess="always" allowFullScreen="true" wmode="transparent" type="application/x-shockwave-flash" pluginspage="http://www.adobe.com/shockwave/download/download.cgi?P1_Prod_Version=ShockwaveFlash"></embed></object><p style="font-size:11px; font-family:Arial, Helvetica, sans-serif; color: #999; margin-top: 5px; background: transparent; text-align: center; width: 420px;">Visit msnbc.com for <a style="text-decoration:none !important; border-bottom: 1px dotted #999 !important; font-weight:normal !important; height: 13px; color:#5799DB !important;" href="http://www.msnbc.msn.com">breaking news</a>, <a href="http://www.msnbc.msn.com/id/3032507" style="text-decoration:none !important; border-bottom: 1px dotted #999 !important; font-weight:normal !important; height: 13px; color:#5799DB !important;">world news</a>, and <a href="http://www.msnbc.msn.com/id/3032072" style="text-decoration:none !important; border-bottom: 1px dotted #999 !important; font-weight:normal !important; height: 13px; color:#5799DB !important;">news about the economy</a></p>
Cain really ended up looking foolish on Meet The Press. The worst thing I thought was his saying he was just joking after talking about putting up an electric fence that would kill illegal immigrants. Wow, what a funny joke that was.
Pass. As others have stated this is a tax that hits the poor the hardest and lets the rich off with less tax - that would be true with any flat tax plan no matter what the percentages are. What they need to do is remove the SSN cap. Then put a tax in place that taxes income and short term cap gains on a progressive scale. Trust me, the rich won't work less because of the tax - I am one...well a 1/2 of one...
<iframe width="420" height="315" src="http://www.youtube.com/embed/-DrSEyjBj1w" frameborder="0" allowfullscreen></iframe> He is quite the singer.
The guy is an amateur in the same vein as Palin and Bachmann. The Tea Party folks love these kinds of "candidates."
Apparently the electric fence is a joke when he's talking to people who would think the electric fence was a bad idea. But when talking to people who would like the electric fence it wasn't a joke. And people think Mitt is flip flopper. If it were sane people voting in the GOP primary he'd be finished after this. However, in today's political climate I won't make any predictions.
Wait wait wait wait wait, Federal taxes can't magically replace state sales taxes. That's not how it works, Cain is saying it does. And it's Gregory who is misinformed here?!?!
Lmao, "how do you get it passed?" "Step one you throw out the current tax code" ........................uh, you can't just walk in and say "no more current tax code" There's a process, a long, long process. Come on Cain.
Liberals MISSION is to destroy the country....holy god Tallan, why are you posting a video that shows Cain burying himself in every single way?
Because I think it shows him in a very good light. I thought he did fine. So do Americans apparently. Rassmussen now has him beating Obama. transcript Spoiler Gregory doesn't seem to understand that federal taxes are not the same as state taxes. Personally I think Gregory meant 'sales tax' and just kept saying state tax instead, but that's being generous to Mr. Gregory. Finally Cain tries talking to Gregory at Gregory's level so he will understand. You create a bill that eliminates the taxes you don't want and implements the new ones you do want. Very complicated.
"I never said I wouldn't listen to wise men and wise women" *uses a direct quote where Cain says in his book saying he would not* "Let me explain, I would......" So 5 seconds ago, you never said it, but now all of a sudden you did, and now you'll explain why you will. A-M-A-Z-I-N-G.
