Look! Herman Cain the Pizza Man has a plan to save America:

The former CEO of Godfather’s Pizza advocated a maximum tax of 25 percent on company profits and personal income, and end to the capital gains tax.

He said the U.S. must get its debt under control and that companies should not pay taxes on overseas profits that are invested back home.

A national sales tax should replace the federal income tax, he said, giving individuals and companies “certainty” about making purchases and investments. He wants a “restructuring” of Social Security so people can invest in their own retirement funds.

Cain believes this plan will reduce unemployment to at least 5%, although his campaign doesn’t have any real numbers to back that up. (My thoughts on Cain’s economic platform…and Cain’s pizza…can be found in this week’s feature.) My favorite part of the story is the end:

“I love what he had to say about Social Security,” said Maria Jose Lehman, 45, of Greenville. Lehman said she worked for a financial services firm and is convinced that young people should be allowed to save for their own retirement.

I agree with Lehman. It is absolutely criminal how the government doesn’t allow young people to save for their retirements. I hate that my 401(K) and savings accounts were seized by the Bureau of Alcohol, Tobacco, and Firearms as illegal contraband. Damn Marxists!

8 replies on “Herman Cain Unveils Herman Cain’s Dumb Budget”

  1. Heh, BATFE has so many problems right now that seizing pensions isn’t even on their list of priorities.

    And Cain is dumb as a bag of rocks. Who cares what he says?

  2. Where where these loons when the Bush administration was piling on mountains of debt – in ways no Democrats had ever done – and started a war of choice & dishonestly kept it off the books that will end up costing us > $1 trillion, and cut taxes for the rich …a move that was both unsupportable & unconscionable ???

    Keep talkin’, Herman! Something sane may fall out of your mouth eventually.

  3. Anybody who advocates replacing our progressive income tax with a sales tax is either outright evil or hasn’t passed Economics 101. They walk you through the math that proves why it’s such a bad idea. It doesn’t even really benefit the very wealthy.

  4. Making Social Security self-directed is not going to insure retirement funds for the majority of workers. Most people do not have the skills to successfully invest their retirement funds in a manner that will avoid huge losses in times of economic downturn. Ask anyone you know with a self-funded pension plan how they’re doing right now. I am widely diversified in mine and it is worth half of what it was in 2008. Sure, it will gain back much of those losses but I have also lost interest that would have compounded on its pre-free-fall value during these years. Even with social Security I may have to continue working. SS was, and is, the safest way to fund old-age.

  5. I still hold to my suggestion on retirement (well once you can retire at 75 years old, maybe 80) and take a little cynide pill after leave work the last time.

    Why? Social Security will be dead and gone and your 401K? Yeah, that will have been totally destroyed by unregulated Wall Street.

    WELCOME TO AMERICA!!! It’s a great country if you make at least $250K a year!!

  6. @4, well, of course you’re right – but SS is a terrible way to funnel giant gobs of money into investment firms, which is what this whole thing is about anyway.

  8. All that’s necessary to reply to these yokels who claim that reducing taxes will reduce the budget is this: WHERE the FUCK in modern HISTORY did that EVER work before?

    Being transparently hair-brained isn’t a crime, but it doesn’t have to be treated with dignity either. We need more than wild-ass theories from cheap-ass motherfuckers who’d rather ruin the country than pony up a fair share.

    You don’t want to pay taxes here? Then your headquarters and all your executives need to incorporate in another country. And companies that do so will face 20-percent or higher tariffs on their goods.

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