MSNBC must really hate Cain as they have a headline like-'Former Pizza Chain CEO Enters GOP Presidential Race'. Now, if he was a democrat, the headline would have read something like-'An Immensely Successful CEO Of A Very Large Corporation Will Enter The Democratic Presidential Race!!'

Herman Cain is looking better and better by the minute!  :)) :)) :))

Quote from: MAC Man on May 21, 2011, 05:05:10 PM
MSNBC must really hate Cain as they have a headline like-'Former Pizza Chain CEO Enters GOP Presidential Race'. Now, if he was a democrat, the headline would have read something like-'An Immensely Successful CEO Of A Very Large Corporation Will Enter The Democratic Presidential Race!!'

Herman Cain is looking better and better by the minute!  :)) :)) :))

here is an old one...

Herman Cain versus Bill Clinton.mp4

Quote from: Solar on May 21, 2011, 04:30:29 PM
Its partly optimism and reality.
Next time you're at the pump, just tell the person next to you, "boy, I'm sure glad the Dems are in office, I just love these gas prices". :D

"It's a fact. Gas was $1.89 nation-wide the day Obama took office."

Quote from: Solar on May 21, 2011, 04:30:29 PM
Its partly optimism and reality.
Next time you're at the pump, just tell the person next to you, "boy, I'm sure glad the Dems are in office, I just love these gas prices". :D

You do that too? In every instance they blame Obama and his policies. They know he's anti oil, and they all need it in their daily life. It may not mean anything to some wealthy elitist like Obama , Pelosi, or Reid, but that extra 2-3 hundred a month means a lot when you're just trying to make ends meet. People are aware every time they get their utility bill also. The anti oil left are hurting families. They've taken the two most affordable commodities and turned them into a burden.

 Just watched Herman Cain on Chris Wallace's show on fox.
Cain wants a national sales tax of 23% to replace the income
tax for individuals and business. I like the idea of getting rid of
the IRS but 23% sounds a little high to me. Anyone know more about this?

Quote from: WoodBurner on May 22, 2011, 06:35:40 AM
Just watched Herman Cain on Chris Wallace's show on fox.
Cain wants a national sales tax of 23% to replace the income
tax for individuals and business. I like the idea of getting rid of
the IRS but 23% sounds a little high to me. Anyone know more about this?

WB, this is the crux of the understanding of the FairTax, and through obfuscation, is the libs' main weapon against it.

Currently, everything we buy already has 23% of taxes already embedded.  That means if you buy a product for $100, about $25 or so of that was taxes, accumulated throughout the life of the product, from raw materials to point of sale.

With the FairTax, BUSINESS-TO-BUSINESS TRANSACTIONS ARE NOT TAXED.  The 23% is calculated at the point of consumption, by the consumer.

So, we are taking all the embedded and accumulated taxes throughout the supply chain, from raw materials to sale, stripping them out, and just making a single calculation come sale time.  So, the amount of taxes are pretty much the same as now, just calculated differently (and remember, you have 100% of your paycheck to purchase the product with).

Libs hate this, because the simplicity doesn't appeal to their logical faculties.

Quote from: taxed on May 22, 2011, 08:47:09 AM
WB, this is the crux of the understanding of the FairTax, and through obfuscation, is the libs' main weapon against it.

Currently, everything we buy already has 23% of taxes already embedded.  That means if you buy a product for $100, about $25 or so of that was taxes, accumulated throughout the life of the product, from raw materials to point of sale.

With the FairTax, BUSINESS-TO-BUSINESS TRANSACTIONS ARE NOT TAXED.  The 23% is calculated at the point of consumption, by the consumer.

So, we are taking all the embedded and accumulated taxes throughout the supply chain, from raw materials to sale, stripping them out, and just making a single calculation come sale time.  So, the amount of taxes are pretty much the same as now, just calculated differently (and remember, you have 100% of your paycheck to purchase the product with).

Libs hate this, because the simplicity doesn't appeal to their logical faculties.

I can already see a huge loophole in this.

I set up a business and I sell the end product as an incomplete product.
In other words claim it was unfinished, that way the people buying the product can claim tax exempt status, since they are buying an unfinished product.
And if they require that you have a business license, then spend a few bucks and get one.

How it works currently, I pay taxes on the unfinished product, but only recoup them at time of sale.

I wonder how they covered this in their business plan?

Quote from: Solar on May 22, 2011, 09:09:53 AM
I can already see a huge loophole in this.

I set up a business and I sell the end product as an incomplete product.
In other words claim it was unfinished, that way the people buying the product can claim tax exempt status, since they are buying an unfinished product.
And if they require that you have a business license, then spend a few bucks and get one.

How it works currently, I pay taxes on the unfinished product, but only recoup them at time of sale.

I wonder how they covered this in their business plan?

I don't think the status of the product matters; it is who buys it -- a business or consumer.... am I following?

Quote from: taxed on May 22, 2011, 09:12:29 AM
I don't think the status of the product matters; it is who buys it -- a business or consumer.... am I following?

Nope, you missed it.
You only pay taxes on the end product.
I set up a business selling unfinished products, thereby avoiding charging taxes to the customer, and selling the product at an attractive price.

It would be up to the end purchaser to deal with the tax, whether they set up a phony business claiming failure in product failure.

Point is, there is always a work around where taxes are concerned.
I didn't retire in my mid 40s for nothing. ;)

Quote from: Solar on May 22, 2011, 09:17:51 AM
Nope, you missed it.
You only pay taxes on the end product.
I set up a business selling unfinished products, thereby avoiding charging taxes to the customer, and selling the product at an attractive price.

It would be up to the end purchaser to deal with the tax, whether they set up a phony business claiming failure in product failure.

Point is, there is always a work around where taxes are concerned.
I didn't retire in my mid 40s for nothing. ;)

Who would buy the unfinished products?

Quote from: taxed on May 22, 2011, 09:19:03 AM
Who would buy the unfinished products?

For example, I would sell the product partially assembled, say you still have to tighten one screw, but that would still qualify it as an unfinished product.

Quote from: Solar on May 22, 2011, 09:21:43 AM
For example, I would sell the product partially assembled, say you still have to tighten one screw, but that would still qualify it as an unfinished product.

I'm not following...  who would buy the unfinished product?

Quote from: taxed on May 22, 2011, 09:38:39 AM
I'm not following...  who would buy the unfinished product?

Like buying a bicycle at Walmart, it comes in a box unassembled.

I would sell the same bike as an unfinished product, same thing.

Quote from: Solar on May 22, 2011, 09:53:17 AM
Like buying a bicycle at Walmart, it comes in a box unassembled.

I would sell the same bike as an unfinished product, same thing.

But who would buy the unfinished bike?  If it is a business, it isn't taxed.  If it is a consumer, finished or unfinished, it is taxed...

Quote from: taxed on May 22, 2011, 09:59:24 AM
But who would buy the unfinished bike?  If it is a business, it isn't taxed.  If it is a consumer, finished or unfinished, it is taxed...

Hello taxed, I would buy the unfinished and finish it myself if I did not have to pay taxes on it.   ;D   ;D   Whats 10 min or one hr of my time.  If I don't have to pay taxes.   8)