In 2008, John McCain came out of nowhere to win the Republican nomination and go up against Barack Obama. Now we are again in the Republican election cycle and another Cain without the Mc is seeking to be the Republican candidate for President.
So who is Herman Cain and where did he come from? To read all about him I suggest you check out his website at: http://www.hermancain.com/
His bio is quite interesting, and he's never held public office. That could be a good thing as his background is all business. Cain came from nowhere to be considered the front runner, and tonight he will be taking part in a debate with the other Republicans in Las Vegas which can be seen live on CNN starting at 8pm EST.
A few weeks ago when Bush 2 entered the race (Rick Perry) everyone said he was going to the one to beat, but after appearing in a couple of debates the Republicans woke up and said we can't have another George W. so he has fallen to 3rd place, and unless he pulls a rabbit out of his hat he'll be done within a few months.
Herman's claim to fame is his 9-9-9 tax plan. In a nutshell his plan calls for a 9% payroll tax, a 9% national tax, and a 9% income tax. Members of his own party claim his tax plan would increase taxes on the poor and middle class, but he claims that everyone is already paying several hidden taxes, and his system would clean up the mess of a tax system that's been in place in the United States for generations.
In Canada our payroll/income tax rate is in the high 20%, plus we have a national tax called the GST. Some provinces like Ontario have blended their provincial tax with the federal tax, so in Ontario our tax rate on goods and services is 13% and it's called the HST.
The United States tax code is in need of a major overhaul, but I don't think Cain's 9-9-9 tax plan is the way to go. If Cain has staying power and actually wins the nomination it will be a very interesting race for the White House next fall, and one for the history books.
Until next time!
No comments:
Post a Comment