Thursday, September 8, 2011

Herman Cain: Buffoon or Visionary?

Herman Cain, from last night's debate, describes his plan for economic growth:
Throw out the current tax code, a 9 percent tax on corporate income, our 9 percent tax on personal income and a 9 percent national sales tax. If 10 percent is good enough for God, 9 percent ought to be good enough for the federal government. This will replace all federal income taxes. ... It will also replace the payroll tax, so everybody gets some skin in the game.
Don't forget those first six words, "throw out the current tax code." That means no more loopholes, no more special tax breaks for "big oil" or anyone else. Everybody pays, nobody rides for free. It's just so...so...so...American, isn't it? Or at least it's what should be American, in my opinion.

Of course, such a proposal has a snowball's chance in hell of getting through Congress. And that really says something, because let's face it, Cain's proposal would do exactly what he says it would do: spur on economic growth. It won't actually cause economic growth (something that no one in DC can seem to understand), but what it will do is create all the right kinds of incentives for economic growth. And in an open market economy, that's the best that can be done. Ever.

New Deal economic policies are fascism-lite, and they don't work, just flatten things out, 'til demographics and other factors take over and swing the economy back the other way. We're living through that right now, as the current admin's team of economic advisers are clearly beyond clueless (which really says something about the state of economics in academia).

Tonight, the President will unveil his new jobs plan, and my understanding is that it will include yet another extension of unemployment benefits, one of the demonstrably best ways to INCREASE unemployment. Brilliant.

So, back to Herman Cain. What then to do about Herman of Cain, miracle wonder man, hero of fools? No riots, no army, no fighting, no slogans (one thing I'll say for him, Herman is cool)...

Oops, sorry...I seemed to have slipped back into Jesus Christ Superstar mode.

But the long and short of it is, Cain has a clue, he knows what he's talking about, and he'll be marginalized by the real buffoons in the Repub party and in the press, no question about it.

Cheers, all.

2 comments:

  1. I think it's a shame Cain is not getting the media attention he should. I think he is really the only choice in the mix. He 'gets' it. Great post.

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  2. Thanks. It's really sad that people--on both "sides"--with clear visions and sound minds get relegated to the back of the pack year after year, election after election.

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