Discussion in 'Economics' started by chaosclarity, Oct 14, 2011.
Herman Cain for President
This is the kind of "fundamental transformation" America NEEDS.
It's the ONLY possible solution which has a chance of turning America around and employing our workers.
Wow. 2 black men on the ticket? Would be interesting to see how the racist vote turns out.
Cain's economic plan is sound... The Beltway wouldn't like it, but it's what we need. Plus, Cain has been a CEO.
West is a man of character as well as having been a military commander.
That would be awesome!!
Just a comment, from my previous Public Accounting days.... the 9% tax on corporate "revenues" is ridiculous... not at all thought out.
If you make "widgets" and they cost you $95 to make, and you sell them for $100, you receive $100 in "revenues" - right? You pay taxes on the gross... and lose money right fron the get-go.
Now, 9% on net income, perhaps... but to tax gross revenues? No way.
In Nevada, they brought forth a gross revenue tax a few years back (so, so ill advised, it died of course)...
Bright Trading might have a zillion dollars in gross money in (every time you sell stock, revenues come in, LOL).. nothing to to do with profits or anything..... just think about it.
Now, overall...my personal jury is still out on Cain... seems like he has a pretty good overall background, just that accounting is not part of it..
All the best,
On the MONEY. A gross receipt tax is horrible; it taxes you whether you're making money or losing. TX and OH moved in this direction and WA has this tax. Only tax profits and keep the rate low.
I know many people like Cain, but he's unfit for president. He was the CEO of a small pizza chain. I live in a major metro area, and there's probably five or so around. Plus, a nine percent sales tax will hurt consumer spending. The whole plan is dumb and he's shown himself to be ignorant on many areas: foreign policy the biggest red flag.
999 is as retarded as the thread starter. It will obliterate consumption. Sure, you'll have a 10-15% personal savings rate but at the expense of a -10% YoY GDP the first year.
Yes, might be some of that. But after a year or two, consumption would no longer be "put off" and would return to normal.
Cain's proposal is the BEST I've heard.. .and the only one "in the right direction".
Folks would figure out that any tax imposed would be on "net", not "gross"... any idiot could see that. (Not inferring you're an idiot, Don... I've got a lot of respect for your opinions.)
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