Herman Cain's 999 Economic Expert is "Investment Advisor" with BS in Accounting

In before the Basso or Tallan post.

 

So the question is how fast will Cain's poll numbers fall and where will they go. I figured he would be exposed quickly, but at least his books sales got a bump for a few days.

 

Wow. That is laughable lol.

Even better is that Cain talked about him twice last night, the first saying he was from Cleveland, OH, the next saying he was from Cleveland, TX.

 

and the problem is...?

Spoiler

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What is his position with WellsFargo? I think it's premature to call him unqualified based on his academic credentials.

 

you try getting a biology PHD to run your physics lab, tell me how that ends

 

"Investment Advisor".

basically---let me smile and steal your 1.5% fee for knowing what mutual funds are more equity based, and which one are more bonds based.

 

Michelle Bachmann called the 999 plan the 666 plan which was funny.

Huntsman dropped the "I thought it was the price of a pizza!" line which was funny.

Herman sure rolls with the punches though. Likeable guy. Glad to see him in the debates. If Romney had Cain's charm and ability to connect, Obama would forfeit.

 

Can't believe everyone let her get away with saying that.

 

I found his LinkedIn profile: http://www.linkedin.com/pub/rich-lowrie/a/74b/805

He says his title is Managing Director - Investments. The blurb describing his experience there says:

 

9-9-9 is apparently the default tax rate for sim city.

Love that.

http://www.huffingtonpost.com/2011/10/13/herman-cain-999-sim-city_n_1008952.html

 

Another GOP Great Black hope down the drain?

I sort of liked the goofy suburban hip hop guy. At least he had a sense of humor and made a good guest on Bill Mahr.

 

Dems should not attack Cain. Focus all their energy on Romney.

Cain is unelectable.

That said, I think it's better for the country for Romney to win the election - he is the better candidate and would force a better national dialogue. Having Romney and Obama debate would actually be interesting to watch for substance versus entertainment.

 

But see everyone knows the only reason Obama was elected is because he is black. So, by putting Cain in the running clearly Obama has no edge anymore, at least that's what the republicans have been telling me...

 

How does the revenue make up for payroll taxes and regular income tax, even without the tax loopholes?

The payroll taxes is 15.3% (7.65% employer, 7.65% employee). In his plan, an employee would pay 18% tax(9% sales, 9% income). Even though the 18% has no cap, I don't see how he would have enough for other items after accounting for Social Security and Medicare for the boomers.

The 9% company tax is on total revenue and not net profits. It hurts labor intensive industries with slim profit margins such as oil and gas exploration companies. It would cause the price of gas to skyrocket, since they are no longer able to write off employee and equipment expenditures.

 

I don't get it. Are you trying to say accountants can't deal in economics? This guy does not appear to be a CPA, or even an accountant, but seems like a CPA would be perfect for understanding the tax code, and balancing the budget.

So what if I'm biased towards my profession?

 

There was an exchange in the most recent debate where Cain was asked to name the experts he's been working with to craft his 9-9-9 plan, and he balked for a moment before naming one (and only one) of them. Probably because there aren't any others.

 

we really should be taking the advice of experts like Larry Summers and Tim Geithner and Christina Romer