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The Beginning of the End for Herman Cain

Should have stayed out of the top tier Mr. Cain...

Cain is an idiot and now that he is supposedly a front-runner people are going to make sure everyone knows it. Checkout the number msnbc did on him.

http://www.youtube.com/watch?v=5jJ18TTVWYY



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Like all tax schemes, "999" has serious unintended consequences

While I think O'Donnell is an economic idiot, parts of this interview are quiet good. I shake my head at his statement that the 'poor' do not pay 15% for Social Security because the employer is actually paying half of that. It does not occur to him that it all comes out of the same payroll expense pot, so it really doesn't much matter who pays the money...it is money lost to the working poor. There are other statements like that that make my head hut listening to him.

On the other hand, I did not know about the sales tax exemption on 'used goods,' a provision that would decimate production in this country overnight, and drive the price of 'used goods,' like used cars, used clothing, used houses, through the roof as people avoid the new taxes. Talk about hurting the poor!!!

Jimmy Carter applied a 'luxury' tax on certain products, like new boats, as a revenue enhancement program. The result was the destruction of the domestic boat building business as people avoided buying overpriced new boats.

O'Donnell did not talk about restrictions on spending...maybe it's in the plan, maybe not...but none of this talk about revenues makes any sense without talking about what the Federal government will be allowed to spend. What Cain doesn't get is that it doesn't matter so much where the money comes from (though different taxes have different unintended consequences) as much as the total extraction from the economy by the tax feeders.

didn't listen to whole thing

but it sounds like rubbish. i'll give it a view tonight.

"Most lavish give away to the rich..."

That's as far as I could stomach Laurence O'Donnell this time.
Thanks for posting, though. I guess for those with stronger constitutions than mine it could be a source of ammunition against the former Fed shill and current flavor of the week.

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