Posts Tagged ‘media’

Here’s an innovative idea from Herman Cain: 999, or crush the working poor

October 17, 2011

Herman Cain has a plan for America’s tax system: junk the federal income tax and payroll tax, and substitute his 999 system, in which everybody pays 9% federal income tax and 9% federal sales tax, and corporations pay a 9% income tax.

Elegant in its simplicity. But a crusher for the working poor, who now pay 8% in payroll (Social Security and Medicare) taxes, but get a substantial credit via the earned income tax credit, or EITC.

Here’s how a single mother of two earning the California minimum wage of $8 an hour would fare under the 2011 tax structure and under Cain’s 999 plan.

                                                                        2011 actual                Cain 999

Earned income                                             $16,000                     $16,000

    Less taxes:

               Federal payroll tax                               900                            -0-

               Federal income tax                               -0-                           1,440

               Federal sales tax                                   -0-                            1,440

               State/local taxes                                  1,600                       1,600

               Subtotal taxes paid                             2,520                        4,480

 

Net income before EITC*                           $13,480                      $11,520

EITC                                                                   4,800                                   -0-  

Net income                                                     18,280                         11,520

 

So under Cain’s plan her actual taxes paid increase by 77%  ($2520 to $4,480), and she loses the EITC of $4,800. Her net income is slashed by 37% ($18,280 to $11,520).

What does it say about the media and about Cain’s competitors for the Republican nomination that they let this barbarism go unremarked?

_______________

*Earned Income Tax Credit. Cain’s plan abolishes (“simplifies”) it.

The liberal media are unethically distorting Michele Bachmann’s views, and are thereby strengthening her candidacy

August 29, 2011

Americans believe in fair play. That’s why we’re outraged when a ballplayer cheats. Mark McGuire and Sammy Sosa went from American heroes to pariahs overnight when we discovered that they were juicing. That may be why voters switched from Kerry to Bush when we learned that The New York Times had used a forged document on the eve of the 2004 election to “prove” that President Bush had pulled family stings to escape being drafted for Vietnam.

Unfair play may account for some of Sarah Palin’s popularity, as we see her being treated shabbily by the media. And now the media seem set on building up sympathy for Michele Bachmann by distortions of her words.

Ironically, the disdain many rightfully feel toward Bachmann leads them to heap undeserved scorn on her, on top of the scorn her candidacy deserves. And this is helping her, not only with her right-wing base but also with moderate people who believe she’s being treated unfairly.

So some of the  media are reporting that Bachmann blamed hurricane Irene on the big-government Democrats in—ugh—WASHINGTON, D.C. Here’s how it went at a widely covered campaign stop in Florida. (more…)