Herman Cain is an economic idiot

[flpoljunkie]

Cain said on ABC's 'Good Morning America' today that 'every worker pays 15.3% payroll tax' so his 9% tax would leave the worker with 6% of his salary to apply to his national sales tax.

Well, no, it wouldn't. The worker pays 6.2% payroll tax (4.2% in 2011) plus 1.45% Medicare tax--a total of 7.65% which is matched by his employer--which combined equals a total of 15.3%. How could Herman Cain be this clueless. Of course, ABC's George Stephanopoulos failed to out point this major error in Cain's 9-9-9 plan or that Cain's national sales tax would be on top of state and local sales tax. Cain told Chuck Todd on 'The Daily Rundown' this morning that he did not concern himself with how state and local sales tax would affect his 9-9-9 plan.

Video of Cain on ABC's Good Morning America: http://abcnews.go.com/GMA/video/republican-presidential-candidate-herman-cain-interview-defending-plan-14719057

(Payroll tax discussion begins 2 minutes into the video.)

[DemocratSinceBirth]

1. And No Exemptions For Necessities Like Food And Drugs

.

[FSogol]

2. You have a unnecessary word in your subject line.

"Economic" if you couldn't guess. ;)

[Avalux]

3. Herman Cain ISN'T that clueless, but the American people are.

At least those who think his plan is a good idea...they probably don't have a clue how the tax system works. Mr. Cain is banking on a catchy phrase and a terribly simplified and inadequate explanation to get supporters (idiots).

[Sherman A1]

4. Just because you are running for President

don't make you smart and certainly not in the case of Mr. Cain. That said however, please do not confuse the issue (he wants to get elected) with the facts (of such things as tax policy and alike).

[Ikonoklast]

5. "Leave Herbie alone!"

[Frustratedlady]

6. Can you imagine what it would be like to work for that guy?

He is a whip cracker.

[valerief]

7. He. Doesn't. Care. He's an agent for the 1%. They. Don't. Care. nt

[lumberjack_jeff]

8. Shit the pizza guy says.

What they say doesn't need to have any correlation to the real world. It simply needs to sound plausible and inspirational. Their audience can't count.

[ProSense]

9. Herman Cain: Yes I Got It All Wrong About The Last Financial Crisis, But...

Herman Cain: Yes I Got It All Wrong About The Last Financial Crisis, But I’ve Got The Next One Covered (VIDEO)

<...>

• In 2005, Cain wrote a column strongly arguing that there was no housing bubble. Here’s what it that sounded like:

<...>

Whoops! Cain told Todd that, yeah, maybe he was a little off the mark there.

<...>

• On Sept. 1, 2008, Cain wrote another column claiming the doomsayers about the economy were way off:

<...>

A couple weeks later, Lehman Bros. collapsed and a large chunk of the economic sky fell to Earth.

<...>

Well, you get the gist: Moron!

[Rainbowreflect]

10. Flip his plan over and it is 666....

Coincidence? I think NOT!

[Name removed]

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