David Letterman is a comedian, but he seems to struggle to find the humor in Republican presidential candidate Herman Cain's proposal to abolish the current U.S. tax code and replace it with a flat 9 percent rate for all corporate entities, sales transactions, and most Americans.
In a short clip previewing Friday's broadcast of the "Late Show with David Letterman," Cain, a former pizza chain magnate who is currently fighting off claims of sexual harassment while enjoying a slight lead in most GOP polls, pitches the "9-9-9" proposal as an "economic growth plan," which, as he tells the host, is "bold".
"I know it's bold," Letterman says, interrupting the oft-repeated sales pitch midstream, "but you don't even know what it means."
Letterman references an instance when Cain was asked to explain how the flat tax plan would impact people in a given set of economic circumstances, which he could not readily do.
"That was one of those obscure questions that was asked," replied Cain with a broad smile, only to be interrupted again by Letterman, insisting, "but you gotta deal with the obscurity when you're president."
As Letterman goes on to jest that Cain should create a hotline number, whereby Americans can dial 9-9-9 to get a free pizza, the GOP contender insists that his plan "works, it works... instead of a free pizza, when you dial 9-9-9, you're gonna be able to get a job. That's the whole point."
Cain's argument is that by reducing the tax burden on corporations and the people who do the hiring in America by a mammoth sum, they will have more resources available to take on additional staff.
However, analysis from the nonpartisan Tax Policy Center found the plan would increase taxes on 84 percent of Americans, with those in the lowest income bracket hit the hardest. As he originally proposed it, some 30 million American households in the lowest income bracket, which currently pay no income tax, would have seen their rate go up by the full 9 percent.
An outcry from both his Republican rivals and Democrats prompted Cain to make some alterations in his 9-9-9 plan, saying the poorest Americans, those who live under the official poverty line, and corporations which invest in downtrodden areas, would not have to pay the 9 percent rate.
That has not quelled charge that Cain's plan would be a boon to the wealthiest Americans, while increasing the financial burden on almost everyone else.
"It will raise taxes on the poor," Roberton Williams, of the non partisan Tax Policy Center, told CBS News in October. "It will cut taxes on the rich."
All Americans would also see much higher sales tax rates, which could make them more reluctant to spend.
Tune into CBS on Friday to see Cain's full appearance on the "Late Show with David Letterman".
You got the vote of America Mr. Cain.
We won't worry about comedians the takers of society, who bite the very hand that feeds them:
Capitalism and National Pride.
Socialists like Letterman build
careers on funny man jokes about
the obvious.
Talk about a washed out Comedian.
Letterman truly needs to retire into oblivion.
His his audience base down to a few hundred late night couch potatoes scratchin their ....
[Is Mr. Letterman a bigot, or just another a leftist radical?] ---------------------------------------- you don't agree with him ... so that makes him an evil liberal who's responsible for all the world's problems ... and he should therefore be silenced and eradicated.
Cain is such a moron he can't even explain his own plan, and makes fun of it at the same time.
"Cain... pitches the "9-9-9" proposal as an "economic growth plan," which, as he tells the host, is "bold"...
"I know it's bold," Letterman says, interrupting the oft-repeated sales pitch midstream, "but you don't even know what it means." [Me - LMAO]
"Letterman references an instance when Cain was asked to explain how the flat tax plan would impact people in a given set of economic circumstances, which he could not readily do.
Then:
"That was one of those obscure questions that was asked," replied Cain with a broad smile [why is he smiling?!], only to be interrupted again by Letterman, insisting, "but you gotta deal with the obscurity when you're president."
Cain translation - "oh that was just a gotcha question." This clown 1) can't explain his own tax plan and 2) has no idea how it impacts anybody.
I keep watching and listening and all I can say is this GOP field is filled with complete morons. There are two with half a brain - Romney and Huntsman. I would include Gingrich except I think he is mentally ill in some fashion. I mean that seriously, not to simply trash the guy. And talk about a lack of morals or ethics, that would be Gingrich. For his part, Huntsman has this totally laid back approach to things which I find frustrating. Romney keeps rolling with the questions and issues, although he comes across as the most intelligent and most grounded of the lot. These guys - and nitwit Bachmann - are going to make it easy for Obama.
Letterman is concerned about the poor? Is that why his net worth has decreased each year for the past - --- oh wait, that hasn't happened. What a bunch of lemmings listening to these guilt ridden sleaze in the limelight.
That study by a left wing think tank that said 999 would raise taxes on 84% of the population is out of their minds.
if you work and earn a paycheck you pay 15% to the government via FICA/Payroll tax.
throwing that tax out the window and giving everyone a 9% income tax would reduce EVERYONES burden across the board.
Now on to the sales tax portion. Right now our ultra high, (highest corporate tax rate in the world, almost double the average) corporate tax rates works like a VAT on ALL the prodcuts we buy.
The heritage foundation and CATO institute was able to calculate on average we pay a 22% hidden embedded tax inside of all of the product we purchase today.... Cain's 999 plan does away with those invisible taxes and gives a one time 9% at the point of sales visible tax.
Under his plan, the cost of every single product today would be lower.... Try finding that honest asssesment anywhere in the Obamamedia... you just wont.
and you want to put some whip cream and cherries on top?? How about this part of the plan: If you buy used.. cars, homes, second hand clothing, you PAY 0 tax. None, zilch, nada.
Under Herman Cain's plan the poor and middle class will benefit the most, and it will expand the tax base to include everyone, even people who achieve money through illegal means.
The plan is absolutely brilliant and bold. Its about time we had an economist/mathematician as a president.
Pure right wing propanda. DEMAND creates jobs, not low tax rates. Look at the US automakers for the proof of my statement. Their tax rates have remained the SAME but when people weren't buying cars they LAID off workers. Now that people are buying new cars, they're adding workers. In Louisville, KY they were down to one shift at the Ford assembly plants, since DEMAND for cars went up, they've added a second shift and are now retooling and are going to add a third shift. So why do you expect anyone to believe that lowering taxes is going to CREATE jobs when JUST this one example shows how it REALLY works? Ask any legitimate economist that's not a SHILL for corporations and they'll tell you the same thing.
by elem187 November 18, 2011 3:48 PM EST That study by a left wing think tank that said 999 would raise taxes on 84% of the population is out of their minds.
if you work and earn a paycheck you pay 15% to the government via FICA/Payroll tax.
___________________________
Nice try at spin, but the truth is that you pay 7.5%. Your employer matches that for total of 15%. The only people that pay the full 15% themselves are the self-employed.
So the average American will pay an addition 1.5% on payroll taxes.
Here where I live, the sales tax is 6% (not including any local option sales taxes.) So, according to the Pizza Plan, the sales tax would increase by at least 3%. In places with a 2% local option tax, sales taxes would increase to 11%.
I think Letterman's idea about calling 999 to get a pizza delivered is probably the best "9-9-9 plan" out there.
David Letterman doens't want to give away his take breaks and write offs. Did you know that General Electric didn't pay any Federal taxes last year since they filed an electronic return that was 57,000 long to avoid paying their American taxes? GROW UP LIBERALS PLEASE! JUST FOR A COUPLE OF YEARS! We need to make a tax plan that will THROW OUT ALL THE LOOP HOLES but by the same time encourages businesses to grow and create jobs. Your way didn't work, doesn't over 15 trillion dollars in Federal debt teach you anything YET? REALLY? Go to usdeptclock.org if you don't believe me! What is it going to take to get through to those who are being dismissive to Cain? If you pay 9% in sales tax on only NEW items (none on used homes and cars- big break for the middle class right there, hello advid Ebay people!). There are too many people that have too much at personal stake to lose if Cain wins and it isn't the poor or the middle class. The poor would pay 0. I will post more in a minute. Go to his website and see it for yourself, don't listen to this bozo Letterman and his rich friends. Why don't they just pay more in taxes voluntarily? Because they don't have to, since they can practically get out of paying ANY taxes at all! WAKE UP AMERICA AND SMELL THE OBAMA DECEPTION THAT WILL GET US OWNED BY CHINA!
•Removes all payroll taxes and unites all tax payers
•Provides the least incentive to evade taxes and the fewest opportunities to do so
•Lifts a $430 billion dead-weight burden on the economy due to compliance, enforcement, collection, etc...
•Is fair, simple, efficient, neutral, and transparent
•Ends nearly all deductions and special interest favors
•Features zero tax on capital gains and repatriated profits
•Exports leave our shores without the Business Tax or the Sales Tax embedded in their cost, making them world class competitive. Imports are subject to the same taxation as domestically produced goods, leveling the playing field.
•Lowest marginal rates on production
•Kills the Death Tax
•Allows immediate expensing of business investments
•Eliminates double taxation of dividends
•Increases capital formation which aids capital availability for small businesses
•Increased capital per worker drives productivity and wage growth
•Features a platform to launch properly structured Empowerment Zones to renew our inner cities
•The pro-growth, pro-job, pro-export economic policies of the 9-9-9 PLAN equals a strong dollar policy
Oh well... If the David Lettermans and the Tucker Reals of the world think a flat tax is a bad idea then we better pay attention. I mean really these guys are pillars of society, experts in economic realities, virtual encyclopedias on the tax code and shouldn't be taken lightly. HA HA HA HA HA HA HA HA HA HA.......... just go play out the streets with your OWS brotherhood and leave the serious talk to serious people for a change.
Herman has bigger problems than Letterman. According to the Daily Rash, a North Carolina shoe salesman is claiming he's Herman Cain's illegitimate son. http://www.thedailyrash.com/disabled-shoe-salesman-claims-he-is-herman-cains-illegitimate-son
The posting of advertisements, profanity, or personal attacks is prohibited. By using this Web site you agree to accept our Terms of Service. Click here to read the Rules of Engagement.
Reply to Comment The posting of advertisements, profanity, or personal attacks is prohibited. By using this Web site you agree to accept our Terms of Service. Click here to read the Rules of Engagement.
We won't worry about comedians the
takers of society, who bite the
very hand that feeds them:
Capitalism and National Pride.
Socialists like Letterman build
careers on funny man jokes about
the obvious.
Talk about a washed out Comedian.
Letterman truly needs to retire
into oblivion.
His his audience base down to a few hundred
late night couch potatoes scratchin their ....
Is Mr. Letterman a bigot, or just another a leftist radical?
Not sure yet!
It's not racism!
Cain's an idiot!
Here in Kansas City, NOBODY'S forgotten his triumphant stint at Aquila Energy, years after his brief tenure at Godfather's Italian Stereotype Pizza!
How much can you people take? I mean, seriously, the clown car is almost empty, and you still don't have a candidate who can tie his or her own shoes.
----------------------------------------
you don't agree with him ... so that makes him an evil liberal who's responsible for all the world's problems ... and he should therefore be silenced and eradicated.
do you feel better now?
"Cain... pitches the "9-9-9" proposal as an "economic growth plan," which, as he tells the host, is "bold"...
"I know it's bold," Letterman says, interrupting the oft-repeated sales pitch midstream, "but you don't even know what it means." [Me - LMAO]
"Letterman references an instance when Cain was asked to explain how the flat tax plan would impact people in a given set of economic circumstances, which he could not readily do.
Then:
"That was one of those obscure questions that was asked," replied Cain with a broad smile [why is he smiling?!], only to be interrupted again by Letterman, insisting, "but you gotta deal with the obscurity when you're president."
Cain translation - "oh that was just a gotcha question." This clown 1) can't explain his own tax plan and 2) has no idea how it impacts anybody.
I keep watching and listening and all I can say is this GOP field is filled with complete morons. There are two with half a brain - Romney and Huntsman. I would include Gingrich except I think he is mentally ill in some fashion. I mean that seriously, not to simply trash the guy. And talk about a lack of morals or ethics, that would be Gingrich. For his part, Huntsman has this totally laid back approach to things which I find frustrating. Romney keeps rolling with the questions and issues, although he comes across as the most intelligent and most grounded of the lot. These guys - and nitwit Bachmann - are going to make it easy for Obama.
if you work and earn a paycheck you pay 15% to the government via FICA/Payroll tax.
throwing that tax out the window and giving everyone a 9% income tax would reduce EVERYONES burden across the board.
Now on to the sales tax portion. Right now our ultra high, (highest corporate tax rate in the world, almost double the average) corporate tax rates works like a VAT on ALL the prodcuts we buy.
The heritage foundation and CATO institute was able to calculate on average we pay a 22% hidden embedded tax inside of all of the product we purchase today.... Cain's 999 plan does away with those invisible taxes and gives a one time 9% at the point of sales visible tax.
Under his plan, the cost of every single product today would be lower.... Try finding that honest asssesment anywhere in the Obamamedia... you just wont.
and you want to put some whip cream and cherries on top?? How about this part of the plan: If you buy used.. cars, homes, second hand clothing, you PAY 0 tax. None, zilch, nada.
Under Herman Cain's plan the poor and middle class will benefit the most, and it will expand the tax base to include everyone, even people who achieve money through illegal means.
The plan is absolutely brilliant and bold. Its about time we had an economist/mathematician as a president.
That study by a left wing think tank that said 999 would raise taxes on 84% of the population is out of their minds.
if you work and earn a paycheck you pay 15% to the government via FICA/Payroll tax.
___________________________
Nice try at spin, but the truth is that you pay 7.5%. Your employer matches that for total of 15%. The only people that pay the full 15% themselves are the self-employed.
So the average American will pay an addition 1.5% on payroll taxes.
Here where I live, the sales tax is 6% (not including any local option sales taxes.) So, according to the Pizza Plan, the sales tax would increase by at least 3%. In places with a 2% local option tax, sales taxes would increase to 11%.
I think Letterman's idea about calling 999 to get a pizza delivered is probably the best "9-9-9 plan" out there.
•Provides the least incentive to evade taxes and the fewest opportunities to do so
•Lifts a $430 billion dead-weight burden on the economy due to compliance, enforcement, collection, etc...
•Is fair, simple, efficient, neutral, and transparent
•Ends nearly all deductions and special interest favors
•Features zero tax on capital gains and repatriated profits
•Exports leave our shores without the Business Tax or the Sales Tax embedded in their cost, making them world class competitive. Imports are subject to the same taxation as domestically produced goods, leveling the playing field.
•Lowest marginal rates on production
•Kills the Death Tax
•Allows immediate expensing of business investments
•Eliminates double taxation of dividends
•Increases capital formation which aids capital availability for small businesses
•Increased capital per worker drives productivity and wage growth
•Features a platform to launch properly structured Empowerment Zones to renew our inner cities
•The pro-growth, pro-job, pro-export economic policies of the 9-9-9 PLAN equals a strong dollar policy
HA HA HA HA HA HA HA HA HA HA.......... just go play out the streets with your OWS brotherhood and leave the serious talk to serious people for a change.