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BitaTruble -> RE: The trouble with Herman Cain (5/22/2011 8:33:52 PM)
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ORIGINAL: OrionTheWolf
Didn't see you mention anything about the prebate, which is a check everyone gets to offset their taxes in this idea.
It's temporay though.. then that prebate goes away and reality sets in. It's a sparklie and no different from the sparklies we've gotten in the past. Checks are nice, but I'd just as soon not write even more of them when I'm already over drawn at the bank.
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You are only taxed at the retail level, and some things such as foods would be exempt. The idea is that those people that pay $200 for a pair of sneakers will pay more tax than those that pay $20 at Wal Mart. This does not include capturing all the taxes from those that have jobs that do not report income; such as legal jobs where there are a lot of cash tips going on, to illegal jobs such as drug dealers, prostitution, etc. Those people will eventually need to spend that money, and get taxed, rather than now where they avoid taxes.
There is no incentive to spend for the working poor and no income to spend for the large % of out of work not to mention the homeless, so it is the middle class and upper class who will do the spending except there really is no effective middle class so the burden falls on the upper class to spend. And there is the crux of depending on a flat tax.. you are counting on people taking their money and spending it. It's a fine ideal but is it realistic when people are keeping their cards close to the vest? In all honesty, I do see the points regarding capturing money from the drug trade, prostitution etc., but a whole lot of that money goes right back into the purchase of drugs and such.. not into retail business. Oh, a lot of it will but what do you suppose drug dealers and the like who are making that 1 trillion a year are going to be buying? My bet is that its Rolex over Timex and you won't see a lot of bling at Ed & Marthas Retail Everything Emporium located in Podunk, Anystate.
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You really did not give an accurate description of the 'Fair Tax", and I recommend anyone that wants more information go to fairtax.org.
I thought I was close enough for the question I was answering but, that said, I concur. Everyone should be doing their own homework. I was generalizing on why Cain will be a hard sell for me and how I took his remarks on lowering the debt.
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If it is not something in the corporate interest, then it will be difficult to do. Have you seen any of his comments about corporations and PACS being involved in politics? I am not sure what his stance was on that.
I agree with you 100%. I have not seen his comments on those two issues nor the issues which are deal breakers for me. There just isn't a ton of information out there on him yet but I like his background for sure. His dad worked three jobs so their children could get an opportunity. Kudo's to them and to him for taking that opportunity and running with it. I admire that and, to me, *that* is the American spirit in action. Hard sell.. but, door is not closed. Character is very weighty with me. Something which I found in both McCain and Obama and which I found lacking in their running mates. Cains choice in that matter also matters to me, but that's a whole long way off.
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Until we cut the puppet strings of the corporations, I do not see much of a difference in who is in there, except in very small differences.
Cain would likely be just another corparitist, just like most other politicians are.
Possibly, but right now my job is to vet and be as sure as I can be, to listen to what others have to say so I can add their perceptions to my own and try to get as rounded a view as possible. Beyond that it's hard to say until I'm done with my job. Puppet strings.. seems like my endeavor is futile, but I am a masochist so it's all good. [:D]
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