In an article Simon Johnson wrote for the New
York Times about Standard & Poor’s recent downgrade on the
U.S. credit rating he asks, "How can we take seriously a rating agency that is compensated by the issuers of securities?"
(That "agency" is just another
corporation that operates for
bribes profits.) Hey
Ali Velshi! What's your take on this?
So how can we take seriously the talking heads on Fox News or any Republican politician, the concept that by eliminating capital gains taxes for millionaires, they will create more jobs when all those people are millionaires themselves? Isn't that a bit self-serving?
|Republican presidential hopeful Herman Cain's plan for tax reform calls for a 9% personal income tax, 9% federal sales tax, and 9% corporate tax, and is referred to as the "999" plan.Hey Ali Velshi! What's your take on this?|
When questioned about his "plan" by a reporter after the GOP presidential debate last night, Cain became angry and very defensive, as though "How dare you question my ulterior motives!" (Which of course, they were ulterior, as they would have only benefited the rich.)
As a businessman and the CEO of Godfather's Pizza, I imagine the "999" moniker is supposed to be some kind catchy sounding marketing gimmick...as in 99¢ or 3 for $9.99 (but not as in 99er).
Cain's tax plan doesn't address state and city withholding taxes, or state sales taxes. And reduces the federal withholding taxes for the top income earners (and eliminates their Social Security and Medicare taxes entirely). It reduces corporate income taxes (ranging from 15% to 35%) to 9%. And it imposes a 9% national sales tax on everything we buy, which is usually the greater part of someone's paycheck earning $33,000 a year or less.
And those on fixed incomes and depending on social services, the unemployed, the disabled, or those on Social Security, are screwed even more. The poor, as usual, always get screwed the most by Republican politicians. The rich, as usual, always get a break by Republican politicians.
Not long ago, just like Newt Gingrich had proposed NO capital gains taxes at all for millionaires, Herman Cain had proposed NO corporate taxes at all for large multi-national corporate conglomerates. Cain called for a "fair" tax plan (but just calling it "fair", doesn't make it so.)
Like all Republican tax plans, every part of Herman Cain's plan is geared towards the wealthy, does nothing to fill the hole in tax revenues, and decreases funding for Social Security and Medicare. In essence, it will force more reductions in benefits for working and poor people, while giving corporations and the uber-wealthy much less tax liability to fix our roads and bridges and to fund our public school system.
As an aside: Rather than Herman Cain's "999 plan", Glenn Beck has demanded a "666" plan, and people who advocate on behave of the poor are describing that plan as being just another attack on the poor and working-class - - - and that it is "evil".
Herman Cain is CORPORATE AMERICA to the bone. He was a business analyst for Coca-Cola. Vice President of the Pillsbury Company (claiming he turned around 450 Burger King restaurants). He was Chairman and CEO of Godfather’s Pizza, he took the company from the brink of bankruptcy, returning it to profitability. He was also the Chairman, President and CEO of the National Restaurant Association. He has served on the boards of directors of several major American and multinational corporations, including Whirlpool, Nabisco, SuperValu, AGCO, Hallmark Cards, Reader’s Digest and Aquila.
All his life he's represented corporate interests.
The Republicans (like Herman Cain) are always preaching to us to take personal responsibility in our lives...such as, we shouldn't put ourselves in a position to have to rely on a government "hand out" for food stamps after we get laid off by a corporation. Yet those who run the corporations, those that the Republicans represent, avoid taking personal responsibility for their actions by being incorporated and enjoying protections from limited liability when marketing defective products or engaging in other nefarious activities. In a word, hypocrisy. "Don't do as I do, do as I say".
Corporations have been bilking Americans for decades. So why would I want another corporate hack like Herman Cain, who is also mutli-millionaire, representing MY interests? He doesn't give a damn about the unemployed or the "under" employed in America. He's built his entire career on the backs of his employees, paying them minimum wages! Is that the kind of '"job creator" you want running your country?
If you're like me, you like and respect and trust President Obama; but let's be honest, he shouldn't have let the GOP walk all over him. Obama kept trying to be too agreeable, when the Republicans in the House should have been dealt with more firmly. Obama never even used the term "Republicans", and always said "some of those in congress". Obama's last shot will be tonight, to tell the Tea Party where to go, or we'll need to find someone like Bernie Sanders and Alan Grayson to run against the GOP in 2012.
It's either that, or we'll have to find another Republican like Dwight D. Eisenhower, when income taxes were 91% for the top income bracket.
Herman Cain is no different or better than any other Republican politician we have today. They tax the poor more, pay them less, and let the rich and big corporations off the hook for everything. A vote for Herman Cain is a vote for corporate tax dodgers. A vote for Herman Cain, is a vote against the poor and the working-class. His "999 tax plan", just like any other GOP proposal, is just a play on the numbers...another scam on the American people. Another damn shell game.
Corporate greed, deceivingly cloaked in patriotism.