Thursday, September 8, 2011
Herman Cain: "The Word Privatization Is Used To Kill The Idea": What PRA actually are
First of all Al Sharpton doesn't belong on any serious program which I believe this MSNBC Program intends to be covering Political Debates. Interviewing Presidential Candidates who are in these debates or does he belong hosting a national News Talk Show. But this is the quality or lack of if when it comes to MSNBC right now but perhaps thats a different blog. So when Rev. Sharpton mentions that one of the purposes of the Federal Government, is to keep States from getting too strong. What he failed to mention or understand, is that we have State Governments and States Rights and a Constitution. For one reason from keeping the Federal Government from being too strong and we have Limited Government to keep government in general from getting too strong. So the people can have their Individual Freedom and not be harassed by government. Also picking the panel that MSNBC did from the left with Gene Robinson to the Far Left with Al Shaprton. To cover a Republican Presidential debate, would be like FNC picking Anne Coulter, Rush Limbaugh, Mark Levin, moderated by Sean Hannity. To cover a Democratic Presidential debate, very biased coverage to put it mildly. Of course they are not going to like what these republicans have to say.
As far as Herman Cain's 9,9,9 Tax Reform plan, I think he's going to need a Government Reform plan before his Tax Plan. Because the 9,9,9 plan I don't believe would generate enough revenue unless he has some Supply Side Economic theory he hasn't laid out yet. Because people now paying 33-35% in Federal Taxes, would go to 9%. So Herman Cain would also need to come up with a Government Reform plan or some serious Budget Cuts. This idea from Rachel Maddow that a Consumption Tax would unfairly hurt Low Income people, it depends on how you structure it. If you have a 15-20% Consumption Tax on all products in America. Then of course that would hurt Low Income people who spend most of their money on basic things they need to survive. Rent, food, clothing etc and they would see a huge Tax Increase as a result of a Consumption Tax at around 150% from what they are paying now. But if you make it progressive, like lets say 5% on things like food, clothing, transportation. And maybe 20-25% on Luxury Items or higher, then Low Income peoples taxes would be about the same or lower as now. And wealthy people would pay more in tax as in percentage, because they spend more money.
As far as Personal Retirement Accounts or PRA, I like them but only in a system thats called Social Security Plus, Which would be PRA's that workers and employers would pay into, an increase in the Payroll Tax to fund it. And the money that would be put in a PRA would be Tax Free, so people would automatically have their Social Security. Plus this additional Retirement Account that would be there's, that they could take out of once they retire. So if they were to make bad investments along the way, they would at least have their basic Social Security to fall back on. Socialists of course hate this idea because it takes power away from government and give to the people. Adding some individualism to the Social Security System and making it less collectivist. But this concept is fairly popular with the rest of the Political Spectrum, especially Gen Xers like myself and younger. And we could cut taxes and Government Spending somewhere else to avoid a net Middle Class Tax Increase. This idea was endorsed by a Liberal Democrat Tom Daschle back in 2004 when he was the Senate Minority Leader. This is not just an idea for conservatives.
I believe Herman Cain who doesn't have a blizzards chance in hell of winning the GOP Nomination for President, actually put some thoughtful ideas on the table tonight. And if structured properly could advance the debate in Tax Reform and Social Security Reform and I believe he had a good night.
Click on the link of the blog to see a video of Herman Cain on MSNBC