Your morning jolt: Herman Cain to redefine his ‘9-9-9’ plan

The beating that GOP presidential candidate Herman Cain took Tuesday in Las Vegas is about to have its effect. From the Associated Press:

Detroit — Republican presidential hopeful Herman Cain is redefining his tax plan to allow some deductions, abandoning the zero-exemption feature of his “9-9-9″ plan, which has helped win headlines but would have meant a tax increase for more than four-fifths of Americans.

After sharp criticism over his one-size-fits-all plan from Republicans and Democrats alike, Cain was set Friday to propose exemptions for businesses investing in “opportunity zones” as a way to give an economic jolt to rundown neighborhoods. He’s also proposing new tax brackets to reflect different income levels.

Up to now, Cain has touted a plan to scrap the current taxes on income, payroll, capital gains and corporate profits and replace them with a 9 percent tax on income, a 9 percent business tax and a 9 percent national sales tax. But the plan seems to be unraveling.

“We carved out a substantial amount from the aggregate 9-9-9 plan tax base — enough to exempt those in poverty — and we will work with Congress to best apply these in a way to break the poverty trap and replace it with positive incentives that encourage people to work and take risks in this economy,” Cain said in remarks prepared for delivery Friday outside the once grand — and now unused — Detroit train hub.

Cain’s shift on zero exemptions comes after an independent analysis showed his tax plan would raise taxes on 84 percent of U.S. households. The Tax Policy Center, a Washington think tank, said low- and middle-income families would be hit hardest, with households making between $10,000 and $20,000 seeing their taxes increase by nearly 950 percent.

Households with the highest incomes, however, would get big tax cuts. Those making more than $1 million a year would see their taxes cut almost in half, on average, according to the analysis.

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The Huffington Post is among the news outlets that have gotten an early copy of Walter Isaacson’s new biography of the late Apple CEO Steve Jobs. In its assessment of a meeting the inventor had with President Barack Obama at the San Francisco airport, HP indicates that Jobs had begun to channel Coke CEO Muhtar Kent when it came to the economy:

[Jobs] seemed to have transformed from a liberal into a conservative.

“You’re headed for a one-term presidency,” he told Obama at the start of their meeting, insisting that the administration needed to be more business-friendly. As an example, Jobs described the ease with which companies can build factories in China compared to the United States, where “regulations and unnecessary costs” make it difficult for them.

Jobs also criticized America’s education system, saying it was “crippled by union work rules,” noted Isaacson. “Until the teachers’ unions were broken, there was almost no hope for education reform.” Jobs proposed allowing principals to hire and fire teachers based on merit, that schools stay open until 6 p.m. and that they be open 11 months a year.

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Over at the Savannah Morning News, Larry Peterson notes that U.S. Rep. Jack Kingston, who hasn’t faced a serious challenge in two decades, is apparently hoarding more than $1 million in campaign funds – just in case:

[D]ue to run next year on new turf that includes more Democrats, the Savannah Republican doesn’t seem to be taking any chances.

He’s almost quit giving away campaign money to other GOP candidates, according to a report filed with the Federal Elections Commission.

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41WMGT in Milledgeville has given us a first look at Republican Stephen Simpson, who plans on challenging U.S. Rep. Paul Broun, R-Athens, in the 10th District:

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The AJC’s Politifact Georgia today takes a look at a statement by Phil Kent about the state’s new Immigration Enforcement Review Board, of which he is a member. The panel is tasked with fielding complaints over the use of illegal immigrant labor by local governments. Earlier this month, Kent said: “And yes we can actually prosecute, and get them into jail, if we bring in the attorney general. That’s what the open borders, anti-enforcement people don’t like.”

- By Jim Galloway, Political Insider

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177 comments Add your comment

BILLY MAYS HERE

October 21st, 2011
9:07 am

y-you m-m-mean “flat” taxes are in fact inherently regressive formulations that hurt the middle class? No… NO!!! My conservative worldview is crashing down all around me…

Evil-Doer

October 21st, 2011
9:09 am

A-ha! He’s going to flip it upside down like Michelle Bachman said!

Its really a 6-6-6 plan. He does that and he’s got my vote.

Redcoat

October 21st, 2011
9:16 am

Billy Mays likes the way things are, he feels everyone else is paying more than him and he’s using all the government services. Don’t change anything and shoot down any other proposal. Right Billy?

Spellcheck

October 21st, 2011
9:16 am

Have someone run spellcheck. “Redefine” is misspelled in the landing page header on the website.

Double Zero Eight

October 21st, 2011
9:17 am

Now that he is a top contender, it looks like
he is serious about being elected president.
His change of heart is indicative that he understands
the importance of compromise, and the fact that his
original 9-9-9 plan had inherent flaws.

Redcoat

October 21st, 2011
9:18 am

Evil-Doer ………..so what’s your plan, or are you happy like Billy?

BILLY MAYS HERE

October 21st, 2011
9:19 am

I probably make more money than you.

Not a Neil Boortz Redneck

October 21st, 2011
9:21 am

Cain is fast becoming a laughing stock among educated people. Too fast, actually. We need him to hang on and syphon votes from the other anti-Romney candidates until the far right becomes completely exasperated.

Cain is a fraud. Godfathers LOST market share while he ran it. His projection of 1000 stores proved impossible as they lost 200 locations and shrank, Pillsbury dumped it for a loss.

Cain denied there was a mortgage crisis in 2007 and then supported TARP in 2008. He is a failure at everything except self promotion.

For those reasons I will vote for Cain in the open GA primary if he is still hanging around.

Redcoat

October 21st, 2011
9:21 am

Got to keep those big “refund” checks coming! Down with flat taxes!

BILLY MAYS HERE

October 21st, 2011
9:23 am

Down with your bad posts

R U Kidding Me?

October 21st, 2011
9:24 am

It’s getting near the end of the month and about time for Herman Cain’s 15 minutes of fame to peter out. I’m curious who other bloggers think will be the GOP Flavor of the Month for November will be?? I still think Hank, Jr. has a good shot at it. Thoughts?

BILLY MAYS HERE

October 21st, 2011
9:25 am

They’ll bring back Joe the Plumber at some point I’m sure

Redcoat

October 21st, 2011
9:28 am

Not a Neil Boortz Redneck………….Who are the educated people you speak of……Obama and his appointed staff? Right, he’s really turning things around for a few selected insiders. I guess we can always hope for change.

Max

October 21st, 2011
9:29 am

@ Double Zero Eight

October 21st, 2011
9:17 am

Now that he is a top contender, it looks like
he is serious about being elected president.
His change of heart is indicative that he understands
the importance of compromise, and the fact that his
original 9-9-9 plan had inherent flaws.

Are you serious?!! He only changed it because he new it wouldn’t win him votes! What a BS comment!

BILLY MAYS HERE

October 21st, 2011
9:29 am

Spoiler Alert
Romney’s gonna get the nod

Redcoat

October 21st, 2011
9:31 am

Billy……….so you are happy and in favor of keeping current tax system! Care to respond?

Justin

October 21st, 2011
9:32 am

@ Not a Neil Boortz Redneck

October 21st, 2011
9:21 am

Great point! The longer Cain hangs around and performs his circus act, the move the republicans are split. I’d cross over and vote for him in the primary also if he makes it. Just so Obama can crush him 2012!

BILLY MAYS HERE

October 21st, 2011
9:32 am

Yeah it’s like this: if taxes are the biggest thing you have anxiety about, your life must be a bed of roses. Grow up.

Buzzed

October 21st, 2011
9:33 am

Don’t complicate the 999 tax proposal by allowing exemptions, just make it an 888, 777, or 666 plan. Don’t forget to cut, cap, and balance the spending too.

Redcoat

October 21st, 2011
9:34 am

Max………..How many “BS moments” has Obama had to date? Care to respond?

BILLY MAYS HERE

October 21st, 2011
9:34 am

I would vote for a Republican touting a 666 plan simply for the irony

Travis McGee

October 21st, 2011
9:38 am

Jobs and the Coke CEO are correct: it is easier to do business in China where there are few regulations. It is, however, more difficult to conduct Olympic Games in China because the air is so polluted the athletes can’t breathe. But, labor is cheap. About .75 cents per hour I believe.

Brother Cain jumped the gun on his 9-9-9 tax plan. He started promoting it before the oligarchs had signed off on it. I do hope he can get to the point where he can explain it without suggesting that we just read it and separate the apples and oranges and to not get them mixed up. Geez!

Redcoat

October 21st, 2011
9:39 am

Billy……..what a cop out answer………..You were the first to comment about a tax plan and you fail to reply as to where you stand on the current system. So again…..happy with the way things are?

td

October 21st, 2011
9:40 am

First the Coke chairman and now the former chairman of Apple (Both Dems) tells the President that his socialistic policies are hurting business and as a result keeping business from hiring people. This just proves that Obama is the worst President to ever hold office and needs to be a one term President.

I guess you libs are going to say they do not support the working man either. Remember these were Obama supporters before they knew his ‘Change” was to change us into a socialist nation.

BILLY MAYS HERE

October 21st, 2011
9:42 am

Of course it’s easier to do business in a country where there is essentially slave labor and a central totalitarian regime controls it. Apple and Coca-Cola both want the US to be more like China I suppose.

BILLY MAYS HERE

October 21st, 2011
9:43 am

You asked and you got an answer, Redcoat, you just didn’t like it. Suck it up!

Reverie

October 21st, 2011
9:43 am

The mocking of Herman Caine smacks of vile racism. You can’t stand it because an african American has been the first to propose anything of merit concerning tax reform. Liberals simply can’t deal with their blatant racism and back a genuine American with a backstory that doesn’t involve finishing schools and advanced Teleprompter degrees. You are scared because you discovered Cain is not a “flavor of the month”.

td

October 21st, 2011
9:43 am

Of coarse the poor are going to pay more taxes under any FAIR plan because THEY DO NOT CURREntly pay any taxes. It is time for everyone to have a stake in the tax system (”even if it is just $1).

BILLY MAYS HERE

October 21st, 2011
9:44 am

Exactly what business policy of Obama’s is “socialistic” ?

BILLY MAYS HERE

October 21st, 2011
9:45 am

“The mocking of Herman Caine smacks of vile racism.”

You wouldn’t know what racism is if it hit you in the face with a baton and then turned a fire hose and police dogs on you.

Redcoat

October 21st, 2011
9:47 am

Travis………Can anyone explain to everyone’s understanding about how our current tax system works?

R U Kidding Me?

October 21st, 2011
9:48 am

To the “No Tax increase Crowd”, think about this:

The national debt is around $15T thanks to BOTH Democrats and Republicans. The federal budget is about $2T a year. Without any new revenue, there is only one other way to get out of this hole. We would have to shut down the ENTIRE federal government for roughly 7 years. No military, no air traffic controllers, no highways, no court system, etc. for 7 years. Yet, the current taxpayers would have to continue to pay taxes at the current rate during those 7 years, just to get the debt back to zero. Result: Total anarchy. So, how many of you are ready to sign on to this plan? I’m listening “No New Tax” crowd.

Travis McGee

October 21st, 2011
9:52 am

@ Redcoat: No, but then again, that’s what Herm said his plan would do: SIMPLIFY IT!

td

October 21st, 2011
9:52 am

BILLY MAYS HERE

October 21st, 2011
9:44 am
Exactly what business policy of Obama’s is “socialistic” ?

Well lets start with Obamacare. Businesses are forced to pay for either health insurance (mandated coverage limits by the Federal Government) or pay a fine for each employee. Socialistic? YES

Second: Obama wanting to raise the taxes on corporations. The US has one of the highest corporate tax rates in the world. Why is the tax rates so high? To set up programs for the poor. Can you say redistribution of wealth. Socialistic? YES.

Third: Regulations. There has been more regulations (not just EPA) passed onto business then any other President. Centralized control of the economy through regulation. Socialistic? YES

BILLY MAYS HERE

October 21st, 2011
9:53 am

We spend about $1 trillion a year blowing up brown people around the globe because they give WASPs too much anxiety! But we mustn’t dare suggest cutting the budget of the warrior caste!

JDG

October 21st, 2011
9:53 am

Seconded: td, please do tell of these “socialistic” business policies that you purport the current president is inflicting upon the business community.

BILLY MAYS HERE

October 21st, 2011
9:54 am

If corporations have the same rights as an individual, then they should pay the same taxes as one, too.

Redcoat

October 21st, 2011
9:55 am

Billy………….again another non-answer……typical I guess for you?

BILLY MAYS HERE

October 21st, 2011
9:56 am

I hear people say “OMG! TOO MUCH REGULATION OBAMA!” but just as td illustrated, they can’t actually list said regulations that are burdensome.

clem

October 21st, 2011
9:56 am

so jobs tells obama china is more business friendly and td accuses obama of being socialist……gee obama we need to be more like china, communist….da

thought cain a numbers guy….proves what a dumb arse he really is….watch his interviews….holy moly, right there with palin…..

tpers, palin, trump, bachmann, perry, cain…….

willydoit?

October 21st, 2011
9:57 am

Billy Mays is dead!!

JDG

October 21st, 2011
9:57 am

“There has been more regulations (not just EPA) passed onto business then any other President. Centralized control of the economy through regulation.” Any actual proof of this?

Also, the only current tax increase proposals I know of would be on individual income taxes for high earners – or are you counting the ending of certain tax breaks as an “increase”?

td

October 21st, 2011
9:57 am

R U Kidding Me?

October 21st, 2011
9:48 am

What program has actually been cut under Obama (real money taken out of the program)? I know me and most conservatives have said that we would consider revenue increases when and only after real cuts are made and implemented for several years in a row. The Dems have proved that they can talk about cuts but they never happen when taxes are actually increased (See Reagan and GHWB).

Let us see some real cuts (Not just to the military either) in social programs.

BILLY MAYS HERE

October 21st, 2011
9:58 am

Yeah Romney, Paul, and to a lesser extent Gingrich were the only seemingly well-read Republicans in the debate, so I just assume those are the ones the hickoids hate the most.

2012: CAIN is Able!

October 21st, 2011
9:58 am

Unlike Barry Osama, Herman Cain actually HAS a plan.

Redcoat

October 21st, 2011
9:58 am

Billy…….So, should all individuals pay the same tax?

Ol' Timer

October 21st, 2011
9:59 am

@td: I’ve read about a thousand of your posts and, up to this point, haven’t found ONE that I could agree with; BUT you are absolutely correct: EVERYONE should pay something in taxes for the privilege of living in this great country.

And, that doesn’t just address those who are poor, but rich, multi-national corporations that have loophole to avoid paying taxes, too.

BILLY MAYS HERE

October 21st, 2011
10:00 am

Yeah! Tax the poor! That makes sense!

Jackie

October 21st, 2011
10:04 am

Lefties on this blog are just whistling past the graveyard. Obama is Jimmy Carter II and he will be soundly rejected next year before entering a decade of isloated exile. The US is a center/right nation and Obama’s left wing agenda has both failed and been exposed for what it is. Now he is going to lose the senate and drag the party down the rat hole with him. People like Obama the person but have soured on Obama the condescending, out of touch left wing plutocrat.

JDG

October 21st, 2011
10:04 am

td (and everyone else) you DO realize that anyone who draws a wage pays payroll taxes, right? And that the payroll tax liability can’t be reduced to zero (unlike income taxes)? So if you’re among the working poor, you certainly are not paying zero taxes.