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Herman Cain on Corporations

 


Excessive regulation drives up prices; market self-regulates

The federal government has amassed incredible amounts of control through its ability to regulate everything from emissions to food to businesses. Certainly, some regulation is necessary to protect American consumers and taxpayers, but excessive regulation has driven up the price of the goods and services.

Alleviating the burdens of cumbersome regulation would be an immediate boost for our weakened economy. It would signal to businesses and investors that the government intends to maintain conditions that allow for them to thrive, not to bog them down with additional costs they must inevitably pass on to their consumers. No one is arguing for lead-based paint in toys for kids or unsafe food. We just want reasonable regulations that cut down on bureaucracy and help businesses succeed. And ultimately, the free market, aided in part by the watchful eyes of investors and consumers, will regulate itself.

Source: Campaign website, www.hermancain.com/ "Issues" May 21, 2011

When was the last time a poor person gave you a job?

Cain said that the president has no leadership ability, but beyond that, there's a political mess and lack of solutions throughout Washington, D.C. "America is on the wrong track, but we can get it back," he said. "We have become a nation of crises"--moral, economic, entitlement spending, energy and immigration.

The federal stimulus funds did nothing to stimulate the economy, Cain said. As president, he would reduce the corporate tax rates from 35 to 25 percent, take the capital gains tax to zero and suspend taxes on repatriated foreign profits.

"Lower taxes do stimulate the economy," said Cain. "It's not rewarding the rich. When was the last time a poor person gave you a job?" He also would replace as a second phase the tax code with a national sales tax, describing it "as simple and fair."

Source: Rob Novit in Aiken Standard May 19, 2011

Lower corporate tax rate to 25%; and capital gains to 0%

    He thinks he can turn around the US economy and create jobs with his 5-step plan:
  1. Lower the corporate tax rate to 25% from 35%. Cain said the US is the only country to not have lowered the corporate tax rate in the last 15 years
  2. Take the capital gains tax rate to zero. Cain said it would encourage investments in US businesses and create jobs
  3. Take the tax rate on the repatriation of foreign profits for US companies to zero. Taking away that tax would encourage investments in US businesses and create jobs
  4. Cut the entire 6.2% payroll tax for workers and employers for 1 year. Cain said it would give American workers a 6.2% pay raise and "guarantee" that the US economy grows faster. Cain believes smart tax cuts like these are self-financing, meaning they'll pay for themselves by stimulating the economy and raising the tax revenues
  5. Make the tax rates permanent or indefinite. Cain said uncertainty on tax rates is "killing investments" in the US economy.
Source: International Business Times, "5-Step Plan" May 10, 2010

Other candidates on Corporations: Herman Cain on other issues:
Nominees:
GOP: Sen.John McCain
GOP V.P.: Gov.Sarah Palin
Democrat: Sen.Barack Obama
Dem.V.P.: Sen.Joe Biden

Third Parties:
Constitution: Chuck Baldwin
Libertarian: Rep.Bob Barr
Constitution: Amb.Alan Keyes
Liberation: Gloria La Riva
Green: Rep.Cynthia McKinney
Socialist: Brian Moore
Independent: Ralph Nader
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Page last updated: Jun 14, 2011