Republican Debate Focused on Economy and Cain

Republican Debate 2011 Focused on Economy and Cain's 9-9-9 PlanBy Greg Hunter’s USAWatchdog.com 

I don’t know who won the October 11, 2011 Republican debate last night, but Herman Cain sure got a lot of attention for his 9-9-9 tax plan.  That’s short for 9% tax on business, 9% tax on personal income and 9% sales tax.  I am sure the Republican field loves the first two, but a 9% sales tax seems like a complete downer for the party of Lincoln.  Michele Bachman (who is a tax attorney) hit Mr. Cain in the face with verbal cream pie when she said, “The last thing you would do is give Congress another pipeline of a revenue stream and this gives Congress a pipeline in a sales tax. . . and once you get a new revenue stream you are never going to get rid of it. . .When you take the 9-9-9 plan, and turn it upside down, I think the devil is in the details.”  I do have to give Mr. Cain some credit for coming up with a simple easy to understand plan.  It may or may not be good for the country, but Cain’s plan got him plenty of attention.

I thought Ron Paul’s question to Cain on auditing the Federal Reserve was revealing in that it appears Cain is already changing his stance on a Fed audit.   Cain, who is a former Chairman of the Board of the Kansas City Federal Reserve, denied that he was against a Fed audit when Dr. Paul pressed him on the issue.  However, less than a year ago, Cain said a Fed audit was “unnecessary.”   Listen to what he said in the clip below in his own words:

Last night Herman Cain said, “I don’t agree with the actions of this Federal Reserve.  I don’t agree with the actions of Ben Bernanke . . . I don’t have a problem with the Federal Reserve being audited.  It’s simply not my top priority.”  I think that qualifies as a major flip flop.  I guess he now knows that 64% of the American people believe the Fed should be audited on a regular basis.  The Fed pumped out more than $16 trillion in the aftermath of the 2008 meltdown, and this is not one of his “top priorities”?  You are kidding me, right?  Is this how he turned around Godfathers Pizza?  He simply ignored the actions of prior management?  He does “not agree with actions of this Federal Reserve” and he doesn’t want to know what the #@#* is going on with the people who control the world’s reserve currency?   Mr. Cain is either an idiot or a shill for the Fed.  I personally do not think he is an idiot.

When Herman Cain was asked who he would use as a role model for the next Fed Chief, he said, “Alan Greenspan.”  Ron Paul just shook his head in disapproval while Cain praised Greenspan’s leadership.  When Ron Paul was asked to give his opinion, Paul said, “Alan Greenspan was a disaster.”  Paul got a round of applause for that comment.  I think it is justified because Greenspan pushed to cut banking regulations such as the Glass-Steagall Act.  Greenspan fought against the regulation of derivatives, which today is a black unregulated pool of hundreds of trillions of dollars.  His low interest rate policies are also the reason why there was a housing bubble in the first place.  You can see how helpful his policies were to the U.S. economy and big Wall Street banks–both are teetering on insolvency.  Ron Paul predicted that Greenspan would, once again, come around to the idea of a gold standard or, as Ron Paul calls it, “sound money.”

I was surprised last night that Rick Santorum hammered Cain on the fact that he supported TARP (Troubled Asset Relief Program) along with Huntsman, Romney and Perry.  Santorum also questioned Cain’s 9% sales tax and his ability not to allow Washington D.C to “take freedom away from freedom loving people.”  Bravo, Mr. Santorum!  Cain said he would basically veto any increase in the sales tax.  I don’t know if Mr. Cain would make a good president, but, to me, he came off like he’d make a good king.

I watched the entire debate, and I just didn’t find that Romney or Perry said anything all that dynamic.  When they talked, I just heard “blah, blah, blah, blah, blah, and blah, blah.”  It will be interesting to see how the MSM spins the debate.

Comments
  1. James T

    Cain realizes that auditing the Fed would be fruitless because there is no paper trail. Do you honestly think the Fed documented everything it did with the money. Of coarse not. Cain knows this, thats why he’s not concerned about it. Cains probably our best bet from what I have seen so far.

    • Greg

      James T,
      There are tons of documents at the Fed that will reveal what goes on. Cain himself admitted there were many “internal audits” at the Fed. So you just want to give up and let the Fed do what nit wants and put a formewr Fed gfuy in the nations highest office? The recent GAO audit revealed that the Fed doled out $16.1 trillion in the wake of the 2008 crisis. If you do not fix the banks you will never fix the economy. Cain is more of the same that got us to where we are today.
      Greg

      • bob D

        atta boy, Greg, let the chips fall where they may……. ;/;/;/;/

        as to the Fed having lots of paper work, trails,— most is written
        in muslim, nil in usa language, and anyway olde uncle bernankey
        would leave any out of the shredder that could and should reveal
        info of worth (bernie 102),,,,,,,,,,,,,,,,,,,,,,, ;/>

        i think anyone who wants to understand the global
        mish mash finance money loot pirating goldilockSaxs etc has to
        take a course, (suckertime 101-104 and grad level then a fellowship), on revealing the brainwork of olde uncle bernankey,
        the wisest owl of all,
        still perched on a hi tree limb blinking and winking and thinking, he with the smarts->->->-:/> all other govt central bankers in a circle playing musical chairs,,,,,,,

        if you analyze
        benankeyeedoodledandy as i do all the time, it is easy to see he knows and does exactly as he wishes to do, i.e. stack the deck, all the other players lose big time, bernie takes the pot every time, go ahead ask his peers (post grad-111 ,,,,,,,,,,,,,

        take usa-Fed, yep he has given it all away but that does not mean he wont call it back into his pot,
        all he has to do is ask or gasp or get to shuffle the deck and deal, a piece of cake, (Bernie-101) ::

        enough of the Fed, who are second in line, first in line are all the other worldwide central banks with no one knowing the game and thus easy for olde uncle bernankeyeeeeeeee to screw them big time which is what he does all the time, take a look and see and watch them weep

        anyway Greg, nice to read yours above, you still the best to read and follow, thanks

  2. Sam

    Dear Greg,

    Slam dunk analysis!

    Fox News has tried to present Herman (Munster) Cain as some sort of “wunderkind,” but his record speaks for himself. He was president of the KC Fed, making him an insider, and one not to be trusted. Furthermore, regarding his “miracle” at Godfather Pizza: Herman (Munster) Cain was an EMPLOYEE. Granted, he was a highly-paid employee, but an employee nonetheless. Employees don’t see “the big picture,” or take “the big risks.” That is left to the people who start and run the business.

    Herman (Munster) Cain never did a payroll, signed an employee check (except to endorse his own), never took a risk; was always an agreeable yes-man. We need someone with an overall vision, someone who wants to take the country back to the Constitution, not more of the same.

    DR. RON PAUL 2012.

    • Greg

      Thank you Sam!
      Greg

  3. Samantha in Tucson

    Herman Cain disgusts me with his commentary re: if you are not rich, it is your own fault! He is truly in the pocket of the big banks. If he gets elected, we’re totally cooked.

    He got hammered the other night by Lawrence O’Donnell on MSNBC. He sure pointed out he inconsistencies with Cain; old Herman sure was squirming!

    When is our country going to WAKE UP?!

  4. George

    Greg, I didn’t get to listen to the clip but “Cain said a Fed audit was “unnecessary.” that is different from saying you oppose an audit isn’t it? And isnt Cain 9-9-9 predicated on dumping the current tax code? Which would require a constitutional admendment to get things right

    • Greg

      George,
      If you listen to the clip he is clearly opposed to a Fed audit even if he does not use those exact words. Listen to the audio and see for yourself. Peace bro!!
      Greg

      • George

        He is saying we wont learn anything which I disagree on. You have to wonder if any Fed Employee has ever syphioned off any funds. Fed should have anual audit that is published. He says we have bigger problems to worry about now and I agree we need to focus on the economy but then the Fed is part of that economy. I like Cain better than any of the others so far

        • Greg

          George,
          The Fed caused the mess we are in right now. Greenspan fought against ANY regulation of O-T-C derivatives. Some sway that is more than a quadrillion black hole and the root cause of the economic mess we are in. The Fed secretly pumped out $16 trillion to bailout the world and Cain does not want to know about this? (We only found out about the $16 trillion because of a provision Senator Bernie Sanders put into the Fin Reg bill that passed last year.) He is more of the same and a Fed backer. He will NOT fix our problems. He will just extend the status quo, that is falling apart. The economy will not be repaired until the bailouts stop, the banks are fixed, and Wall Street is punished and reined in. As I always say “Good men can disagree.” Thank you man for the comment.
          Greg

  5. George

    “take freedom away from freedom loving people.”
    Are these the same people that didn’t blink and eye at the Patriot act? good sound bite though

    • g.johnson

      no george. more like the people who howled at the moon over the freeking patriot act.
      don’t get folks confused. only a few of us left who understand the dire importance of liberty. don’t fold us in with the sheeple.

  6. Art Barnes

    Romney, Perry, Newt, huntsman, and Santorin, all old large white walled tires, nothing new among that four, barely keep a person awake at 8:00 eastern standard time. Although Cain is a fiat guy I do believe he would be a bold leader. Frankly though, the republican field, once again, is the reason the demorcrats are not that worried no matter what the poles indicate, there is just more of them and the republicats always place the same type of old thinking yesterday people in their field. Greg, as I have said, placing hope on the next election is the game the elite wants us to play. As Einstein once said “doing the same thing over and over again and expecting a different result is the definition of insanity”. Paul is the only guy worth supporting but can’t win because the elite won’t let him
    get any traction. The elite control the media and there is no way they will allow a non-fiat guy to run. By the way Greg, Paul is the only “sound money” non-fiat guy in the field. All the others, frankly, are more of the same O’ same O’. No matter who wins the next election there will be no change, only more of fiat printing, can kicking, middle class derailment in the future.

  7. james

    CALL THEM UP LOL>>>
    just a few yrs ago. may have been this yr.
    congress had the fed chairman in meetings to understand whats going on with the money printing and spending form the bail outs.
    when asked where the money went mr bernanke said he was not going to tell them..thats what he said to congress.that the constitution allows him not to answer that question.if all we have to do is call them why so much fuss over a mandate to aduit.?
    there not going to tell anyone anything over the phone.
    greg everything you said in this artical i said last night. watching
    homney and curry was like watching a commerical.cains plan 666 is just a tax hike on the buyers,and a tax break for the producers. cain is a snake in the grass. notice in every debate ron paul gets the most applause.oh and wheres the applause charts?

  8. Hoppe

    Greg, you nailed it!

    Now who do you suppose Charlotte Hays, senior fellow with the Independent Women’s Forum, is giddy about from the debate. Hint, he is handsome and has a nice do with the perfect amount of Grecian formula 16…

    Ugh, we are doomed.

  9. Donald E. C. Leicht

    Greg,

    A flat tax, with no deductions or exceptions, should be adopted on all income/receipts, whether individual, corporate, labor union, church, or welfare recipient. A sales tax should be adopted to collect taxes on unreported/underground income. All other taxes should be abolished.

    Such a system is simple, easily understood, and collectible/verifiable. Every citizen then has skin in the game, and will not be inclined to view taxes as only a revenue stream supporting his entitlement.

    Lastly, we could then dismantle the IRS bureaucracy. Lobbyist would become irrelevant. The tax savings would be huge, as would the social savings.

    Don Leicht

    • Greg

      Donald,
      I am opposed to any sales tax on a Federal scale. We need to cut spending.
      Greg

      • Bob

        Fed sale tax would be one Congress away from 9% to 10%.

        • Greg

          Bob.
          No doubt, and what about the new government tax collection agency to collect the tax?
          Greg

  10. David Conrad

    Hi Greg,

    I am not certain that Cain’s 9 9 9 plan is good. But at least it is a plan. And yes, the 9% sales tax seems high …. very high, and yes, once Congress gets ahold of a revenue stream, it could be centuries before it can be stopped. BUT, at least Cain has a plan. I believe the flat 9% tax on business might REALLY kick start this near dead economy. Keep up the great work!

    • Greg

      David,
      You got to cut spending on all levels of government before any tax cuts, but your points are well taken. It is the spending cuts that are the problem, not tax cuts. Everybody wants a tax cut, but nobody want their special government program, bailout or subsidy taken away.
      Greg

    • bob D

      hi david conrad murray, yes cain, able too, has a plan, is called
      suicide for us and homicide of usa then blow away the world send a
      few humanoids to planet zombieland and let us see what comes….

      dave you are correct about having a plan but it has to be exercied
      by a guy with a brain, none on the agenda i can see, maybe the gals
      can oil them up or speakka for demselves, never know

      • MasterLuke

        I’m going to say once again I’m a big Ron Paul supporter. Mostly because he brings up issues that we need to bring up. They are long term solutions to a very fucked political/wall street affair. My problem with Dr. Paul is he doesn’t address what he would do after he does what he does and I doubt he gets any congress support. For example – Dr. Paul want’s to audit or end the federal reserve and get back to sound money. Lets assume hes able to do this. Our currency would be near worthless because the cat would be out of the hat. Hes going to back currency with gold but what would 1 dollar fiat be exchanged for 1 dollar gold backed? What is this going to do to the economy? What about operating cash flow for business when their cash is completely worthless in one day. You would have business left and right not able to meet current cash needs because their cash would be worthless. This IMO would trigger hyperinflation (a US currency exchange and this is how it would happen).

        So does Dr. Paul address this? Not really he just lays out why the federal reserve needs to be audited and the US return to a gold standard. Yes, they are great ideas but there is no plan after the action. What about slicing entitlements? That cuts the expenses but would completely derail the economy. That would be a serious loss of cash for many industries. People who recieve these entitlements spend them. Would dr. pauls plan be a gradual plan over the course of years or immediate? Would congress pass it? Of course not.

        So what we have here is good information that Dr. Paul but no plan period. Cain may be flip flopping but Dr. Paul would cause emergency panic and destruction. The sad truth is he has good intentions and this is why I like the man he is honest to god a good person. This does not make him the right canidate.

        We are on a train that is going off a cliff as a country. We do not need to completely reverse directions, we do not need to try to turn this train and derail it, we need to put the brakes on and try to stop it.

        While I do not like the idea of a broader power of bankers controlling the money supply through a private institution like the federal reserve I do not think this is near as important as other pressing issues. What America needs and has always produced the most of is entrepreneurs. College Educated people who do not have jobs need to take on this spirit. There is money out there and if something really cool is invented people are going to use it and buy it. Old industries can not be revitalized, there is not going to be these mega investment banking firms managing peoples 401ks because people are going to learn a lesson and not let it be allowed in the future.

        The true way people need to start fighting banks is not waiting for the government to fix these problems but instead have people stop using these products. Imagine if 1,000,000 people tomorrow canceled their BOA debit card. I bet that would make the news. I bet that would hurt BOA. Or what if those same 1,000,000 people stopped using their credit cards and supported this crap. That would send a message. But whinning about it is not going to help and thats what we do. Truthfully, Americans support change through what they buy. We are consumers. If you purchase nikes then you support child labor. If you purchase gold then you support a gold backed standard or an alternative way of investing/hedging. The truth is, I think its an even bigger mess then this. Americans have lost family, morals, and hope that once made this country great. I literally cringe when I think of young girls working at strip clubs because they make more money or families waging war over money. When I think of the country I want to live in this is not it. I’m probably just as guilty as everyone else and hope everyone else is just as sick of being dehumanized.

  11. MasterLuke

    Go Ron Paul!

  12. BLT

    Ron Paul is usually right on target and will get my vote if he is the nominee, however i just cant help but think back when I used to hang around with the “bad crowd” (personified here as the 531 congressmen) and when the police showed up they really didnt want to hear my explanation of why they should let me go, after all, i CHOSE to be in that crowd, guilt by associaton was in effect and we all went to jail. If someone would just step up and say “ill take the blame for whats happened, now let me fix it!” they would not only get my vote, but have my respect for life. It takes huevos to say you are to blame, and all i hear is the opposits. Just finger pointers is all i see.

  13. Chuck Allen

    Greg,

    Once again you have educated the rest of us; well at least myself. I had no idea that Herman Cain was previously associated with the Federal Reserve banking system. I didn’t do my homework on him. However, no a real shock! This is an example of the “good old boy network” trying to pull the wool over the eyes of the public. I thought he was a pizza maker extraordinaire. THANKS FOR TELLING US ABOUT HIM!

    I would ask the question: What good would come from an audit of the FED? The only real benefit the United States would get from the FED is to repeal the act that put it in place. Then the Congress would have the responsibility that they are supposed to have as elected representatives. THEY could be held directly responsible. What a concept! However, the only way that could happen is if We the People put pressure on the government to repeal the Federal Reserve Act of 1913. Alan Greenspan is a great example of why a repeal of the FED is needed. Between him and Bernanke they have sold out America, with the aid of Congress (both parties) as accomplices.

    Ron Paul has been saying the same message for decades. He is the only politician that I am aware of that has been consistent about anything. His biggest problem has been the main stream media (MSM) ignoring him. Additionally, he has not been able to make the consistent outreach to the voting public that would put his message strongly in the minds of the common citizen. I wish him luck in the election. Ron Paul might be the “real change” America needs.

    I agree with your “blah, blah, blah, blah, blah, and blah, blah” comment about Romney or Perry, but I would submit that it applies to all politicians in every election. They basically say what they think the people want to hear. Once elected, they do the bidding of the “money interests” that paid for their election. It doesn’t matter if they are republican or democrat, male of female, aged or younger, in 1950 or 2011; they are all the same.

    The only control We the People have is what is known in the sales industry as turn-over. We the People need to keep the turn-over churning by voting out the elected representatives we put in office, every time at every level. VOTE THEM ALL OUT!

    Thanks for the education!

    • Greg

      Chuck,
      The Fed is picking winners and shovelling trillions of freshly created dollars their way. This will be paid for in the form of inflation that is growing and effecting us all as a nation. You don’t want to have a say or know what in the heck is going on? Why haven’t the more than 230 community banks that have gone under in the last 2 years gotten a bailout? Why didn’t all the homeowners who did stupid things get a bailout? Why are the bankers that did stupid and criminal things getting bailouts? A Fed audit would even the playing field for us all. Thank you for your comment and support.
      Greg

    • bob D

      hiya chuck allen, you ask what good would come from
      an audit of the Fed, short answer is no good, long answer
      is after the auditors audited the tenth set of books they
      would be dead given the quantity of books per audit otherwise
      they could easily see all the audit of all the facts are in sum total
      zero, zilch, none real, all the goodies are never put in Fed Books,
      never thus never can be audited, ho ho ho

  14. bob D

    water seeks its own level, cain is same dumbass as obama

    cain and his 999 is less tax collected because is doubling
    of cost of collection etc, and since 9VAT is new its costs will
    eat up a lot of the tax itself, thus dumbass……

    recently
    Forbes got kicked out of the saddle via his flat tax, which
    essentially cain 999 is, there is a viable least cost most
    tax collected method but even if i hand held them with training
    wheels, and showed them how they would end up screwing it up,
    so as to be another
    political plumb, too bad

    nice report Greg, is getting so you are the only one i read,
    the rest are sort of brain dead lacking information etc

    • George

      not so sure how hard it would be to set up the sale tax. Most states are doing that now, or did you know. You could seriously cut back on the IRS. no deductions, simple math. It better than the 5 foot stack of special interest crap that we have now. We need to scrap the entire tax code, limit the national sales tax by constitutional amendment to where it could only be increased by national referendum unless in times of war and it would have to revert back to the 9% within 5 years of the end of war.
      Am I misunderstand cain when he says he wants to adondon the current tax code and start over? If not, do you have any idea how simple thing could be? Based on the other choices, Bob, who do you support? Romney…I wouldnt vote for him on a dare or for pay, might as well vote for obama light.

  15. bob D

    in case you wonder who you should seriously consider to vote for
    might as well join the crowd and vote Perry in as pres, at least
    he has balls of steel and a brain of wit and a strong arm, wait
    and see will be better than t.v., better than real world…..
    i for one will again believe in santa clause who else would have
    created Perry USA’s answer for survival…………………..

  16. Baja Bryan

    I would encourage any and all Americans that want to better understand how the Federal Reserve operates to read “The Case Against The Fed” by Murray Rothbard. It includes:

    •Introduction: Money and Politics
    •The Genesis of Money
    •What is the Optimum Quantity of Money?
    •Monetary Inflation and Counterfeiting
    •Legalized Counterfeiting
    •Loan Banking
    •Deposit Banking
    •Problems for the Fractional-Reserve Banker: The Criminal Law
    •Problems for the Fractional-Reserve Banker: Insolvency
    •Booms and Busts
    •Types of Warehouse Receipts
    •Enter the Central Bank
    •Easing the Limits on Bank Credit Expansion
    •The Central Bank Buys Assets
    •Origins of the Federal Reserve: The Advent of the National Banking System
    •Origins of the Federal Reserve: Wall Steet Discontent
    •Putting Cartelization Across: The Progressive Line
    •Putting a Central Bank Across: Manipulating a Movement, 1897-1902
    •The Central Bank Movement Revives, 1906-1910
    •Culmination at Jekyll Island
    •The Fed at Last: Morgan-Controlled Inflation
    •The New Deal and the Displacement of the Morgans
    •Deposit “Insurance”
    •How the Fed Rules and Inflates
    •What Can Be Done?

    Ludwig von Mises Institute provides a PDF download of the book for free. Here is a direct link

    http://mises.org/resources/3430/The-Case-Against-the-Fed

  17. Ambrose

    Greg,

    Herman Cain is just another politician who will say anything to get people’s votes. It is naïve to believe what he said is what he meant, especially before the primary election.

    As much as I like the tax system to be simplified, I doubt if the 9-9-9 tax plan will ever be passed and implemented. Also, I don’t like plans without much details. For example, will the 9% tax on business apply to any business, big and small? Many corporations (small business and big foreign-based corporations) would be glad to pay the lower 9% tax. Other big banks and big corporations (such as GE, Bank of America, Boeing, Exxon, etc.) that are currently paying less than 9% income tax will not be too happy though. The impact on tax revenue is also not discussed.

    Most Americans will welcome the 9% personal income tax, but what is the impact on the federal tax revenue and the national debt?

    I assume that the 9% sales tax is federal sales tax and not state sales tax. Under the 9% sales tax plan, people in California will have to pay an ouch 17.25% sales tax (9% federal + 8.25% state). Other states like Alaska, Delaware, Montana, New Hampshire and Oregon that don’t charge state sales tax will start charging the 9% sales tax. This tax will be rejected by popular votes.

    The 9-9-9 tax plan is nothing more than a sales pitch.

    Believe it or not – if you vote for me, I will propose a (unrealistic) 0-0-0 tax plan and give you free pizza and beers for life. (Offer expires October 11, 2011.)

    Ambrose

    • Greg

      Ambrose,
      Thank you for the comment and analysis.
      Greg

  18. NCdirtdigger

    Either none of the candidates (other than Ron Paul) know what the problem is, or they don’t want to admit what the problem is. Only Ron Paul has properly diagnosed the disease, he is also the only one who has the cure.

    • Greg

      NCDirtdigger,
      This is so true. If you do not fix the banks, punish the criminals and fix the financial system the economy will never recover.
      Greg

  19. Davis

    Sailing into Dark and Dangerous Waters or Tonkin Gulf Redux.

    If ever there was any question that the super elites of Wall Street and their wholly owned subsidiary know as Congress is a “Ship of Fools,” the recent moves to “punish” China for undervaluing its currency and the CME’s (Chicago Mercantile Exchange) decision to raise margin requirements on copper should remove all doubt.

    As has often been stated the last resort of the elites to fend off the repercussions of failed monetary policy is to rattle the war saber. So act one, scene one becomes possibly initiating a trade war with China. The currency bill is clearly a warning to China not to dump US Treasuries. But what does margin requirement on copper futures have to do with a trade war? Quite simply China has liquidity problems of its own. Local industries, finding themselves cut off from domestic credit markets in the face of growing inflation, have been using raw materials stockpiles, particularly copper, as collateral for loans from the international market. So then act one, scene two is the margin increase on copper futures which has the immediate effect of depressing spot market prices and (down by a third in the last few weeks) and simultaneously knocking down the value of the Chinese loans, essentially putting them “under water” as with the US housing bubble. Act one closes with scene three as the Financial Times of London reported today that China’s actual stockpile of copper may me as much as 100% higher than was being officially being reported unleashing even greater volatility in the copper price.

    Act Two shifts to the precarious Middle Eastern front and opens with allegations Iranian involvement in an alleged plot to blow up the Saudi and Israeli Embassies in Washington DC and assassinate the Saudi Ambassador. Most curiously, those cast members from off stage left that were quick to claim the Bush administration trumped up the accusations against Saddam Hussein in order to go to war in Iraq are deafeningly silent about the same possibility being in play here.

    While there can be no question that part of the Chinese action in stockpiling raw materials has been to build up their military capacity, there are also growing doubts about the actual strength of the Chinese economy as the central government had to recently do a bank bailout of their own.

    It is yet to be scene if Act Three will reveal these actions driving perhaps the two most dangerous regimes in the world being driven into each other’s arms. Couple China’s growing thirst for energy and need to keep it economy expanding to keep its populations appeased with Iran being increasing isolated from open participation in Western markets and we have a potential recipe for a situation that can spin out of control on a moments notice, set in motion by a foolish act or increasing instability in financial markets.

    • Greg

      Davis,
      Thank you for the good analysis and economic content on China!!!
      Greg

  20. Jerry Frey

    Face the facts – wise up, wake up – there’s no leadership in this country because there is no politician who will risk the wrath of senior voters by telling them the truth.

    The choice is clear: individual hardship or collective catastrophe…

    http://napoleonlive.info/what-i-think/comment-on-2012-candidates/

  21. Kevin

    I vote for the latter…shill. A national sales tax? How far fiscal “conservatives” have fallen…. And favorite? Greenspan…? Pftt, I’ll stick with my initial vote…shill.

    Hey, but we do need our fair share of austerity to pay off an unpayable debt. Right? Why not a VAT…and how about a carbon tax to boot. Yeah, that’ll save the banks…cough…I mean the debt servants. The banksters and pols feel our pain, so be a good dupe…er…citizen and pay your indulgence (fee/scam/slavery) charge for consuming and breathing.

    End cronyism, END THE FED
    Sound money
    Rule of law
    Life, liberty and property (…and all of the good things that those entail)

  22. james

    crooked cains brake when you need them most.

  23. slingshot

    The politics is a game we all are playing.Do you really think they will fix the problems. The problems keep them in power. How high will the Debt climb? How about that 600 trillion dollar derivatives problem. Everyone has a pet program they do not want cut. Many more want more programs that will raise taxes. Besides do you think these men in power will just give up? How many promises have our politicians made and kept? I’ll give them the easy ones. Just hold your nose and vote at election time. I’m P****d off at them all.
    In the end it will be, who do you hate the most.

    Lawyers
    Politicians
    Bankers
    Corporations
    Unions

  24. g.johnson

    999 = tax tax tax

    there is, no doubt, not one of us here old enough to have lived before 1931. not one of us who has not grown up with the federal reserve / internal revenue system that came about after the constitutional repubic of the united states of america was systematically and thoroughly overthrown.

    the real dirty little secrect here, the one that we can’t seem to get our minds around since we have never known any other way is simply this.
    taxes are not only not necessary for the maintenance of a trued free market economy or for the maintenance of the governance of a free society, but are, in fact nothing more than chains. taxation, in any form, is nothing but slavery.

    go ahead and try to argue it, but at least, before you do. make a concerted effort to parse it out.

    • Greg

      g.johnson
      “999 = tax tax tax” Love it!!! This stupid plan will not fix the insolvent banking system that is being propped up by phony accounting and government bailouts. The country will not get better until it is fixed. Cain is a blowhard.
      Greg

      • an independent voter

        No “plan” will fix an insolvent system, only allowing bad companies, banks to fail will start the path to “fixing” the insolvent system. Cain has issues, so does every other candidate, but I want someone who would rather be willing to think outside the beltway box to fix issues. And for that to happen, I would rather listen to the candidate him/herself to defend critism of their ideas rather than solely believe the talking points of their critics.
        I hope this website will not just look at plans superficially, people made that mistake with the MSM, I certainly do hope great sites like this one will not make that mistake.

        • Greg

          an independent voter,
          I do not think Cain’s plan will fix the system. It just dances around a very big insolvency problem. The problem is so enormous that we are propping up banks with phony accounting and yet Mr Cain (or anyone else) doesn’t mention a word about it. If you do not fix the banks and the financial system the country will never recover. The banks are insolvent and fixing this will be very painful. That is a fact that will not get anyone elected. I want real solutions not a stupid tax plan that will not fix the economy. We should have not bailed out the banks and taken them to receivership. We would be on our way out of this by now. Instead we CONTINUE to bail out the banks and investors. I want a free market and free market involves bankruptcy when CEOs make big mistakes. It is so funny how neither Republicans or Democrats want a free market if it cost them money. Thank you for you comment. You do make some very good points and you come off as wanting it to come right down the middle. The OWS people would not be protesting if we jailed crooked bankers and did not bail them out. We should have only protected depositors. Heck it would have been much cheaper–it would have only cost $6 trillion max. What did the Fed spend after 2008–$16.1 trillion and we are starting our second bailout in the EU. Thank you for your analysis and support!!!
          Greg

  25. an independent voter

    Out of all them, I like Cain’s idea the best, the only thing, it needs to be a 9-9 plan, not a 9-9-9. And if it is a 9-9-9 plan, that sales tax portion would only ever work and something I would ever consider if the personal income tax is first gotten rid of, which means the 16th amendment would have to be amended.

    Its a good first step by Mr.Cain because at least he seems to be unafraid to say something that is out of the repub talking points. While I would vote for anyone opposing that idiot Obama, I do not trust the repub establishment candidate, Romney, he seems to be more interested in just managing the Fed gov “more efficiently” (but not cutting back on the size), yea, I’m sure that’s even possible /s.

    I don’t want a right leaning fed govt, or a left leaning fed govt, I want a limited govt!!!!! where neither side in all the nooks and crannies of the Fed govt can pay off big unions or tip the scapes towards their favored businesses (i.e Solyndra) — notice I said I’m against crony capitalism, not real capitalism — which many in the OWS crowd are in favor off. If someone has an idea and becomes a billionaire, creating jobs and wealth, I say bravo to them, I appauld their success and not at all wanting any redistribution of it to me! however if they are using that influence to make the laws more favorable to their companies so small businesses have a harder time in that environment, then no!

    I find it so amusing all of Oboama’s minions come on TV spouting their nonsensical talking points on how ObamaCare will balance the budget, etc. I even heard an democratic idiot congressman come on and say how having more regulations is good because it forces more companies to hire more lawyers to comply with them. Seriously, this is now the new era of dems?
    And heck I used to be a dem, a lifelong dem– sadly I even voted for Howard Dean — I trusted the MSM absolutely back then. Its not the dems or the repubs that are the main issue, its the view that spending all that money on a big fed govt will create jobs and more liberty for people –IT WILL NOT. Until people understand this, then they will stop voting for people who want to keep on spending to make the fed govt even bigger, more instrusive, which I find very frightening.

    Keep up the great work on the website. You have a wide ranging audience who at least explore all sorts views without being called a racist, like the MSM does with anyone who does not adhere to the view of a larger massive spending govt.

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