Monday, October 17, 2011


So Herman Cain is the man of the hour right now. Seems that he has all the answers or at least comes across as having a plan. I like the idea that we should and must simplify the tax code. But, will his plan work?

Here is part of an ongoing email conversation I am having with a friend:

But lets take a look at this scenario: Lets say a small family company earns 100,000, at 9% pays 9000.00. The company actually has cost of goods expenses of 50000 (this does not include fringe benefits) so the real tax is 18% on the net income. But what about improvements? If they have a cost of improvement at 25000 then cost of goods 50000 the tax would equals 36% on the 25000 net income. And then the owner has take home income of 25000 which is taxed 9%= 2250 so now we are at 45%. Then this small family spends the 25000 @ 9%=2250. So now the the tax is 54%

I understand also that he wants to do away with the property tax exemption for churches and charities.

So...input anyone?


rick b said...

This has always been my thinking towards anyone who claims they want to run for president. Talk is Cheap, everyone says they have a plan, but here is the problem. No one can just say, I have a plan and I will do it.

Presidents are not like the Kings of the old says where, what they say is law. The King could say I decree that no one is allowed to eat cheese, if they do they will be executed.

Then it is law and can be carried out as such. All presidents can have the best idea in the world, but it must pass through the House and the senate and be voted upon.

If it is voted down, it will never happen. This is one big problem, the (D) vs the (R). I'm all for allowing a 3rd and even 4th party to join the race, but we all know that will never happen. Even someone like You interested could run for president, and if money were no issue and lets say you somehow got elected, you and everyone who voted for you could really believe you have the best ideas in the world to solve our problems, But if the other side votes you down, and they have more No votes, then all your ideas will amount to nothing.

So for me, to some degree anyway, I really dont care what they say since I know the other side will be angry if their man/women is not elected back into power. They will fight tooth and nail to she the currant person not have their ideas brought to light or even win. But thats just my thoughts.

Interested said...

Boy am I glad I don't have that job! It seems to me that everyone is pissed at everyone else and no one wants to get things done. If I think about the political and economical situation too long I can really get depressed.

My parents used to say how good we kids had it because things were really rough when they grew up but I look back on our country and it seems we are becoming more and more enmeshed in political squabbles and less and less involved in solving problems.