MR. HERMAN CAIN & HIS 999...
What a load of ...
Businessman Herman Cain's 999 tax plan is making a whole lot of news these days; but how long will it last? That is the question.
It seems to be resonating with the Conservative wing of the Republican Party; hence, Cain's sudden gains in the polls, and his running head to head with the front runners, Gov. Romney and Gov. Perry, in the presidential race.
However, will the plan work for the average person? No, not according to many financial and tax analysts, as it will pit one section of society against the other.
In that, an executive earning say, $250,000 a year, will have a $22,500 tax burden, instead of $85,000, while a person making $50,000 a year, and paying $3500 dollars now, will up his or her tax load by $1000 dollars, to $4500 dollars.
It will create a much bigger disparity between the "haves" and "the have not-s"; thus encouraging and promoting nothing less than a class warfare.
In addition to that, the mandatory sales tax rate of another 9% will make the lower wage earner to exceed his or her taxes, from just 9% to a whopping 18%. The purchasing power of the lower wage earner will farther reduce to the lowest economic level, as consumer goods will cost more to him or her, on the basis of paying the same national sales tax rate as the high pay earner.
The 999 tax plan sounds so simple, but it will not work in real life. It is even being ridiculed by Cain's own associates and running mates in the Republican Party presidential race. They say it looks like he is plugging the price of a pizza pie; or if it is turned upside down, "....the devil is in the details,"; chuckled Rep. Michele Bachmann in the most recent debate of the candidates.
Cain's flight to the top among the leaders in the race is fascinating, but it is mostly based on his own personal enthusiasm and plain talk; why? People do not talk like that anymore, and so, they are astounded of his bluntness; and that is good only to a certain extent.
However, do people really want a blunt president? Not many will say "yes" to that question.
His enthusiasm, which is so infectious, and not his tenacity as an astute politician, has carried him so far; but are his colleagues going to leave him high in the polls, as he finds himself now? There too, many doubt it.
The fact is that, most of them have extensive experience in governmental affairs than he, Cain; and they are going to baffle him with intricate foreign policy matters and other practical issues, so much so that he will regret getting into the race at all. They will shove him down to where they think he belongs; the bottom of the ladder.
His statement, "If you have no job or if you are poor, blame yourself,", does not resonate with a whole lot of people, particularly, African Americans; not at all. That goes to show that he has lost so many votes in advance, and that is not a good sign for any politician, who really has his or her wits about him or her; and who is really aspiring for the presidency of the United States.
It is not politically correct to make such a stupid statement and get away with it; but he has made it, and he is going to be stuck with it.
Besides, his 999 tax plan is not good for anybody else, but the rich; as it is more beneficial only to the same people against whom the man in the street is marching in the Occupy Wall Street demonstration. The demonstration is spreading; it is already in Washington D.C. too; and soon, it will engulf 99% of the country, and catch up with Herman Cain and his 999 tax plan.
The people in all these demonstrations are reacting to those of Cain's mentality in society.
His own running contenders in the Republican Party presidential race, will make his 999 tax plan a load of bunkum, before too long. His rise in the polls will then crumble to nothing.