Posted on 10/08/2011 5:48:00 PM PDT by SeekAndFind
Forget Herman Cain’s 9-9-9 plan. Rival GOP presidential candidate Rick Santorum said on Friday that solving the country’s economic woes is all about 0-0-0.
At a gathering of social conservatives in Washington, Santorum took a swipe at fellow Republican contender Cain’s 9-9-9 economic plan, saying “I have a better plan.”
The former Pennsylvania senator’s solution is to have zero income tax on manufacturing companies, zero taxes on repatriated corporate profits that are invested in manufacturing equipment and zero Obama-era regulations.
“One of the great problems in our economy, if you look at it… is the middle of America has started to disappear – the middle income of America,” Santorum said. “Why? Because the manufacturing jobs in America have disappeared.”
Santorum said his 0-0-0 plan would “reignite” America’s economy by stimulating growth in the manufacturing sector. Cain’s 9-9-9 plan would amount to a complete overhaul of the tax code by instituting a 9 percent flat personal income tax, a 9 percent sales tax and a 9 percent corporate income tax.
When it came to national security, Santorum threw an apparent elbow at another GOP candidate, Texas Gov. Rick Perry, who gave a rambling answer when he was asked at a recent debate how he would respond to a 3 a.m. national emergency call.
“When that phone call comes at 3 in the morning, ladies and gentlemen, I will be up and waiting for the call because I will know what is going on in the world around us and they won’t have to get me out of bed,” Santorum said.
(Excerpt) Read more at abcnews.go.com ...
I love it. Now combine that with Cain's overhaul of the tax code and I think we're on to something.
Its not either-or. We can and should do both.
Not bad. I’ll have to look into this.
RE: Both links do not address the debt issue.
Herman Cain’s Tax code as I see it, is designed to either be REVENUE NEUTRAL ( meaning government revenue will be the same as today ) or a REVENUE ENHANCER, because it will BOOST the economy and increase the tax base due to its simplified and competitive tax structure ( his blurb, not mine <— there will be skeptics ).
Having said that, the debt issue is a totally different thing. IT HAS TO DO WITH RUNAWAY SPENDING.
Our spending is 50% higher than revenue ( revenue of $2.2 Trillion vs budget of $3.5 trillion ).
I believe that Herman Cain supports slowly decreasing spending till the budget is balanced ( he was on record, I believe for supporting Connie Mack’s Penny Plan ).
See here:
http://www.freedomworks.org/blog/jborowski/top-10-reasons-to-support-rep-connie-macks-penny-p
If he does support this ( and I believe he does ), then that’s one additional feather in his cap.
You do realize that if you are working you are paying 15% of your salary to FICA? They disguise that fact by pretending that the employer pays half of it, but it is real all you.
At 9% you would actually get a 6% cut, even if you already paid no income tax at your salary level. What hasn’t been discussed, to my knowledge, is retirement income.
You are asking Congress to police themselves and act rationally. Congress spends more time working around issues by compromising and delaying what needs to be done, that people are beginning to protest.
People need to continue to protest, constantly.
Government has succeeded in setting up class warfare between the have and have-nots with the ‘haves’ being anyone that has a job.
Fundamentally, the basic principle of applying the rule of law would be a good start. Enforce the rules and laws on the books and prosecute from the top down, not from the bottom up.
Without the threat of jail time for wrong doing, Congress will do as they please and so will government employees.
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