Herman Cain On Hannity

[swbuilder]

Watched Herman Cain on tv tonight on Hannity's show. I really like his pro business stance and most of what he says I am very agreeable to. The only clunker I heard was his stance on a national sales tax that would have a large tax (about 25% I think) on new homes and no tax on used homes. He wants to abolish the income tax so I understand the reason for a larger sales tax but the disparity between new and used items on the tax issue is too much. It will crush new home sales. Perhaps the NAHB will pickup on this and get him to adjust his opinion.

[jimAKAblue]

One of the problems with the way we view candidates is that we tend to take every statment as a deal breaker. We also forget that no matter what a man proposes, it will be wrung through the house and senate and normally will not be exactly as it started out. When guys like Herman Cain talk about solutions that are considered "out of the box", it would be nice if other pundits explored them and talk about options rather than just pooh poohing everything and demagogue ing him.

I suspect that the left will begin their attacks on this idea if he ever gets traction. They're too happy palinizing Bachman right now.

I also like Cain but he has to polish his delivery on some important topics: foreign policy especially.

I don't see how a national sales tax on new homes would replace the income tax so it will be up to him to prove that it would work. That takes more than one segment on Hannity. I wonder if he has a comprehensive plan laid out on a website somewhere.

[davenorthup]

Jim - his "fair tax" ideas have been in existence for many years. There is plenty of information out there on it. Most of the information shows the real rate would be over 30%, if it had any chance of replacing today's IRS system.

[jimAKAblue]

Dave, I wasn't aware that the fair tax would only tax new houses and leave used houses out of the equation.

I'm all for the fair tax. Anything to eliminate the IRS from our lives. It is far too oppressive of an agency with confiscatory powers that violate the intent of the constitution.

[Bill Robinson]

We also forget that no matter what a man proposes, it will be wrung through the house and senate and normally will not be exactly as it started out.

Interesting, does this work for ALL candidates or only for the ones who get elected?

And are in the opposing party of the commentary?

And what about women?

We seem to be getting them more often in the political arena.

[jimAKAblue]

Interesting, does this work for ALL candidates or only for the ones who get elected?

And are in the opposing party of the commentary?

And what about women?

We seem to be getting them more often in the political arena.

The same statement applies to all candidates and elected officials. We don't speak of sex anymore. Nor race. None of that exists.

[parkwest]

If you really want a "fair" tax, repeal the 16th amendment.

And stop the USG from shipping our money and jobs overseas. And by jobs, I include military "jobs" on foreign soil. The USG charged us over $1.2 trillion to catch two men. The USG is charging us $20 billion per year just for AC in the mideast I just read. Now Obamao wants to extend TARP to include Greece and the European Union.

I want a candidate to stand up and tell me why the USG borrows money when it can print it's own money.

[swbuilder]

And the "printed money" stimulus did nothing to motivate the economy. It only motivated "speculative investment" such as stock, oil and gold prices. Bernanke likely won't be pushing for QE3 and his bag of tricks must be darn near empty.

[parkwest]

If the USG was serious about stimulating our economy, all they would need to do is place a moratorium on taxes for a year.

Do you think building an "embassy" in Iraq that is larger than Vatican City stimulated our economy?

[jimAKAblue]

If you really want a "fair" tax, repeal the 16th amendment.

And stop the USG from shipping our money and jobs overseas. And by jobs, I include military "jobs" on foreign soil. The USG charged us over $1.2 trillion to catch two men. The USG is charging us $20 billion per year just for AC in the mideast I just read. Now Obamao wants to extend TARP to include Greece and the European Union.

I want a candidate to stand up and tell me why the USG borrows money when it can print it's own money.

Hear Hear!

[jimAKAblue]

If the USG was serious about stimulating our economy, all they would need to do is place a moratorium on taxes for a year.

Do you think building an "embassy" in Iraq that is larger than Vatican City stimulated our economy?

Hear Hear!

The Iraq thing was a clever way to protect our future oil supplies. By controlling the Iraqi oil, we are not being held hostage by the rest of OPEC.

I'd rather start drilling, fracking, shaving, and extracting everything here, but we also have to protect our immediate needs supply by hanging out in Iraq. Those permanent bases, armed with nukes aimed at Iran, also are a major deterrent to those in the region that want to play Saddam.

So, while I can understand the Bush's plan, I don't think we needed to spend so much to implement it. Most of the spent money was to put a false face on our real intentions.

[swbuilder]

If the USG was serious about stimulating our economy, all they would need to do is place a moratorium on taxes for a year.

Do you think building an "embassy" in Iraq that is larger than Vatican City stimulated our economy?

Why the heck are we building a gigantic embassy in Iraq? So the politicians and bureaucrats have a nice plan to work? Nice job with our money Washington!

[jimAKAblue]

I also agree with that moratorium idea.

I think I once heard that if we suspended all taxes: personal, income and capital gains taxes for one year, we would have indebted our country to about the same level as we did with the stimulus package.

Could you imagine the explosion in our country with the moratorium?

[davenorthup]

If the USG was serious about stimulating our economy, all they would need to do is place a moratorium on taxes for a year.

Do you think building an "embassy" in Iraq that is larger than Vatican City stimulated our economy?

Park - the no (less) tax mantra is quite popular. Can you show me on instance where lower tax rates generated more economic growth?

Try comparing the economic growth and tax rates under 8 years of Bush and 8 years of Clinton. Heck compare any time in history. Let us know what you find.

Lower taxes do not equal higher economic growth. That claim in modern economies is in fact quite false.

[parkwest]

Problem for the communist is it would be like opening pandora's box. Once the peasants knew how much was really being confiscated from them, there would be no going back, IMO.