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Peter Schiff Video Blog - October 15, 2011 (Herman Cain's 9-9-9 Plan, Occupy Wall Street)

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October 15, 2011 – Comments (1)

1 Comments – Post Your Own

#1) On October 16, 2011 at 4:22 AM, JackCaps (26.90) wrote:

PS is mostly favorable on Cain's 9-9-9 plan. PS is critical of the 9-9-9 plan in that it doesn't allow businesses to deduct the cost of wages. The plan actually does, but only in "Empowerment Zones" which I believe are less well off areas desigated by the government. I am inclined to agree with PS on this. It would be better for apolitical private sector employment if all business wage expenes could be deducted from net income regardless of where the business resided in the U.S..

PS also states that Cain has not been talking about the need to reduce the size of government. PS may be right, but "Spending" is the #2 issue (after "National Security") under "The Issues" on the HermainCain.com web site.This page is titled "Reduce Government Spending" page and has five paragraphs, but the following sentences caught my attention.

"Though it might not be politically popular to modernize and eliminate some of our entitlement programs, responsible leaders should be willing to do it all the same."

"Leaders should be willing to shrink budgets by target percentages, and those charged with implementing those changes must be held accountable."

PS would probably agree with this and would like to hear more about reducing government spending from Herman Cain.

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