I'm not running for president. What has Cain said needs to be cut tremendously?
That's kind of the point. He proposes a tax system that won't raise enough revenue and then doesn't talk about what has to be cut.
So low income people shouldn't have to pay for the government services that they use disproportionately more of?
Fundamentally, they can't afford to pay for it. Do you think they should go hungry and eliminate food stamps? Do you think the disabled should not have Medicaid? Do you think the elderly shouldn't have a place to live or medical care? Etc, etc, etc?
The rich CAN afford to pay more. They can easily afford to do it. The richer you are, the more you can afford to pay with essentially no noticeable loss.
Because it's fair and has the potential of working quite well.
Regressive taxation is fundamentally NOT fair. People who are poorer will pay a higher percentage of their income in taxes, since more of their income is used to buy things.
Wow, a talk show analysis? Really?
It assumes a significant sales tax won't decrease sales? Btw, sales tax also hurts the economy. Personally I think it should be done away with to encourage people to purchase more and have more money flowing.
Oh, and he magically assumes the plan will result in a lot of growth? Rather like record profits for corporations has resulted in a great deal of growth lately? Oh wait, it hasn't. Hilarious.
Got any links that don't depend on magic and government costs remaining constant? Heck, going by their magic, our current system will be fine in just a year or two longer.
And it has such funny comments like:
Corporate Taxable income is a bit more difficult to ascertain due to the ability of Corporations to make business decisions and accounting allocations based on prevailing tax law. Data is readily available for total Corporate taxes paid, but this includes a large number of deductions and accounting allocations to define depreciation, capital gains, etc. Again in the interest of erring on the high side, we'll use our own extrapolation of data. Last year, Corporations reported after tax profits of about $1.5 Trillion. Based on a current corporate tax rate of 35% and corporate propensities to shift "profits" into capital gains or other lesser taxed classifications, one could make a reasonable case that the core gross profit to which tax would be applied could conservatively be estimated to be twice that amount. That is $3Trillion.
"let's just make numbers up!" Of course, it ignores the fact that Capital Gains taxes would go down under the 999 plan. No particular reason to shift things out of it. Overall revenue from business would go down NOT up.
You don't get the results in business that Cain has by just firing everybody you don't like.
Not everyone, but you can do your best to avoid hiring people with disabilities. You don't have to care about gay rights. Etc, etc. You can run a very successful business and be a complete moron on these matters. Certainly it doesn't seem like Cain is very knowledgeable here, and in fact preaches things that are flat-out false. He doesn't have an interest in learning what is right as he has commented on believing something without the facts to back it up.
I'm much more comfortable with someone with proven business experience over a failed president and former community organizer.
And here's the attribution error. It's the SYSTEM that is failing, not any one person in it. It's the entire election and government that needs reform, and not in the tax code, but in how they bend over backwards for corporations and other sources of big money and financing.
Could Obama be better? Sure. He could be loads and loads better. He's a significant step up from the last guy though. Seems like Cain would be a significant step back.