Herman Cain caught in BOLD debate LIE!!!

You people decide for yourselves from the latest debate! http://www.youtube.com/watch?v=H5tUd...layer_embedded

http://www.infowars.com/fed-insider-...en-debate-lie/

Cain's motive is 999; depression, depression, depression!

"Read my lips, no new taxes." "I did not have sexual relations with that woman." "They have WMD." "I promise to end the wars in Iraq and Afghanistan and you can take that to the bank!" How many more decades of let downs do we have to endure?

Oh, THAT lie. They discussed that on Bloomberg right after the debate. Very unimpressive. Also, I understand his 999 plan better than he does. It's a good plan in the wrong hands.

Let's burden all the working class people with an 18% tax + local taxes. If you make $1,000,000 and you pay 9% in income tax, you're paying $90,000, but you are not likely to spend the remaining $910,000 consuming. so you're effectively paying less than someone making $40,000 who has to pay $3,600 in income tax and on top of that pay an additional $3,276 in the national sales tax + local taxes as you're more likely to spend every penny you make to live. Remember whether you make $1,000,000 or $40,000 you're not going to use more toilet paper when you go to the bathroom. That's where the fairness gets lost - people at the lower income brackets will be paying more as a percentage of their incomes than the top 5%. Talk about curbing consumption with the vast majority as people will stop consuming and spending to start pinching pennies. And remember that 70% of our economy is consumer driven so even the 51% that you claim don't pay taxes, still consume. With this plan, the consumption with the 51% in addition to the remaining of the working class will be greatly reduced. Get ready for a real depression folks, as for me, I'll be out of here as I'm multilingual. Good luck with the experiment!

P.S. Before you accuse me of being an Obama fan boy, I'm not. Both Dems and Republicans are in bed together and are screwing the American people. If you believe either party is better than the other, just look at the mess created over the last 30 years by both parties.

If you don't think that one party is better than the other, look at the judges that each has appointed.

I'm neither Republican or Democrat either. So you support the current tax system? Explain how it works, and how it can be made fair. Please cite to hundreds of Federal Register articles, and from the several thousand pages of regulations.

Please document how a 20%+ reduction in costs will make life harder for business, and keep prices high.

Explain how a good deal for everyone is bad if somehow, the rich do better too.

Don't discuss things you don't understand.

TTH, that's the only area where the Republicans are generally better than the Democrats. Not by much, but a little.

CuteOldGuy - How do you know I don't understand what I'm talking about? Do you know my credentials? My education? My experience? You were doing so well until your last line. All I'm saying is that Cain's proposal puts a higher burden on lower income people than higher income people.

If you can't debate without attacking, don't waste your time responding.

LOL! 90% of the posts on here are attack posts. I can tell you don't understand by what you posted. I'm a retired tax attorney and CPA. What are your credentials?

I don't usually start off with an attack, so I will apologize. In fact, I never used to attack at all, but that is what being here for awhile will do to you. When I'm not so tired, I will try to explain it in a non confrontational manner. But in the meantime, consider this: If the Democrats and Republicans are working together to screw us, and we agree on that, why do we think their tax code is fair to anyone? The tax code is much less about revenue than it is POWER! It's simply a device to funnel tax breaks and cash to their cronies and contributors.

And I will try to be my nice self until you prove yourself to be an asshole. With one or two notable exceptions, I respect most everyone on this board, and most of my insults are meant tongue in cheek.

I'm a retired tax attorney and CPA....

The tax code is much less about revenue than it is POWER! It's simply a device to funnel tax breaks and cash to their cronies and contributors. Originally Posted by CuteOldGuy

Were you this vocal in your disdain for the tax code when you were making your living off of it?

... but you are not likely to spend the remaining $910,000 consuming. so you're effectively paying less than someone making $40,000 who has to pay $3,600 in income tax and on top of that pay an additional $3,276 in the national sales tax + local taxes as you're more likely to spend every penny you make to live. Originally Posted by thehobbydude

... How do you know I don't understand what I'm talking about? Originally Posted by thehobbydude

By your assumptions.

The socio/economic class warfare being generated and stirred up by Obaminable and his diehard loyalists is based on the premise that folks that are "millionaires" do not "spend" their money, but hoard it ... God knows where ... out of circulation ... so no other part of the society benefits from it. So, as you have done, to make your point and justify your conclusion, as Obaminable wants the "have nots" to believe, those "millionaires" (or "rich people") do not directly or indirectly contribute to others, either directly or indirectly, with at least part, if not all, of their income......and in many instances growth in their retirement funds, funds to buy vehicles, and the opportunity to use credit cards or obtain revolving credit to make purchases at merchants' places of business.

It is fairly well documented in history that leaders of countries in economic difficulty attempt to focus the attention of the working class on specific groups as the blame for the then current economic problems in an effort to "project" away from the leaders and rally support from the "have nots" to assure the leaders' continued role in the government.

Obaminable is taking a page out of the play book of most of the 2-bit dictators around the world who blame the U.S. for their shortcomings while they bask in the wealth they claim to have been stolen by the U.S.

The sad part is that one would think that the "intellectuals" in this country would see through that tactic and denounce his devisive ways.

Were you this vocal in your disdain for the tax code when you were making your living off of it? Originally Posted by Doove

Take the Fifth on that one cutie!

LexusLover - Did you read my post? I don't like Obama, period. I was merely pointing out the downside of Cain's 999 plan on lower income families. It's basic math. You cannot tell me that a family of 4 making $1 million per year is more likely to put every single penny they make back into the economy than a family of 4 making $40k per year.

WTF and Doove, actually I was. I told people that I would happily find another job if that monstrosity were repealed.

Hobbydude, what would the $!M earner do with the $910k? Probably not keep it in a mattress. Most likely it would be invested, which would lead to more consumption. At the very least, if he put it in a savings account, it would be loaned to consumers to spend.

First off ... the only fair you'll find in this life is where pigs and cows go to win blue ribbons. See above how both parties use the current tax code to reward their friends and punish their enemies. The 9% sales and income tax is partially offset by the elimination of the social security tax adding 15% to the paycheck. The reduction in corporate taxes to 9% will result in lower prices. If you are a static economist and believe greedy business will pocket the tax reduction difference rather than trying to be competitive in their pricing, my post means nothing to you. This is how Cain explains it. Personally I am against giving the feds access to sales tax and another revenue stream, but Cain says this is the first step on the way to the implementation of the Fair Tax.

Sky, don't forget the elimination of the compliance costs, and the 2/3 majority needed to raise the rates.