Saturday, September 24, 2011

Raising Cain

Sorry for the gratuitous headline.

Herman Cain just sent shockwaves through the Republican Party by winning the Florida straw poll by a huge margin.

Cain 37%
Perry 15%
Mitt Romney 14%
Rick Santorum 11%
Ron Paul 10%
Newt Gingrich 9%
Jon Huntsman 2%
Michele Bachmann 2%

9-9-9. That's our friend Herman Cain's buzz line for his revamped tax proposal. Basically, the founder of Godfather's Pizza says he'd scrap the whole Federal tax system.

Cain would completely abolish the payroll tax. (Collective cheer from the working people!)

Businesses would be taxed a flat tax of 9% on gross income minus investments.

Individuals would pay a 9% Flat Tax on gross income less their charitable deductions.

Finally, the feds would institute a 9% sales tax insuring that EVERYONE gets to share in the cost of keeping the wheels of this expensive government turning. Right now nearly 50% of Americans are getting off scot free.

Go Herman! I like him and his pizza!

[BTW if you're wondering where the phrase "scot free" comes from, I looked it up. Contrary to popular belief, it has nothing to do with Dred Scott or the Scottish.

Sceot is the Old English for "a tax." Scot and lot was a medieval muncipal tax levied on residents. Someone who managed to avoid paying this medieval tax got off "scot free."

Eventually, the word evolved to describe getting away without any kind of punishment, fiscal or otherwise.

So, now you know. Who ever said this blog isn't educational, as well as entertaining?]

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