The Inexplicable Story

TUESDAY - INEXPLICABLE POLITICS : Herman Cain and his tax proposal

2011-10-04T10:32:00.000-07:00

Who is Herman Cain?

This guy my friend. You might ask what is that about him that is so important?

He survived cancer. Yes, He's awesome for that.

Well that's not the real reason quite frankly,

The fact that he came in first in the Republican Straw Poll in Florida is more important

As you know or may not know, Florida is neither a democratic state nor a republican state.

(for more information) So it is quite interesting to see the result like that...

He’s not the most republican minded guy (according to some) but there is no true republican minded person if this guy isn't, except Michele Bachmann (from what I see)

Well there's going to be another time to talk about Michele Bachmann when she actually starts making sense.

Well, all jokes aside... Let’s look at the results. (Brought to you by MSNBC)

1. Herman Cain, 37.1%

2. Rick Perry, 15.4%

3. Mitt Romney, 14.0%

4. Rick Santorum, 10.9%

5. Ron Paul, 10.4%

6. Newt Gingrich, 8.4%

7. Jon Huntsman, 2.3%

8. Michele Bachmann, 1.5%

I know that Ron Paul won the previous straw poll in California. But California is a Democratic State and Ron Paul is the most liberal person I know in the Republican Party. So, I disregard. He's awesome though.

Anyways, back to the topic, Herman Cain is from Georgia and a tea party activist. Although he might not be nominated because other candidates are MORE AWESOME, but the effects he could bring to the 2012 election is phenomenal. Possible nominees such as Mitt Romney(who I think is going to be nominated) and Chris Christie (that is if he decides to run, which is less likely to happen) will need a running mate with support from the Southern area. In that sense, Herman Cain could stand out as a viable choice.

Even though he might not have a chance to win the nomination, he's a pretty big deal in the Republican Party.

So, this guy proposed this new 9-9-9 tax reform, which made him win in the Florida Republican Straw Poll. This proposal includes a switch from the current combined tax system to a new combination of separate federal taxes: a 9% income tax, a 9% corporate income tax, and a 9% national sales tax.

Let’s look at this in details.

1. A 9% income tax

This will eliminate most of the tax credits and/or deductions, and, most importantly, alter the current tax rate which goes up to 35% with a flat 9% tax rate. I'm sure it can help relieve the burden of tax payers in general. Also, it would eliminate some of the loopholes within the current system where 49.5% tax filers pay no income tax. But that sounds great right? So why am I complaining?

Well, there's always a reason behind it my friend. this 47% of tax payers are recognized as "the poor (either they have a low income or they qualify for enough credits in deductions to eliminate their liability);" hence, they don't pay any taxes. Without any doubts, this 9-9-9 plan will simply shift the burden of taxes from the rich and the middle class to the poor.

Let me explain it this way, let’s say the middle class pay 25% and the rich pay 21.5%. So, we are reducing these numbers down to 9%. Okay.... seems like a huge tax cut. When the government is in debt, that's what we do, reduce the income source. In return, now the poor have to pay 9% instead of their previous 0%...

(This is a quite old chart but it will help you understand the situation.) Brought to you by CBO

So they are cutting taxes on the average and above people but putting more burdens on the poor. How are they going to make up for the loss of income for FED? Well, they have a plan.

2. A 9% corporate tax

Corporations pay taxes up to 40%. By reducing this to 9% is a good benefit for them. Even though it will take away credits and deductions, but tax cuts are tax cuts. Overall, they are more or less receiving benefits rather than losing them.

3. A 9% national sales tax

In order to compensate the loss in FED income, he's implementing a flat 9% national sales tax.

What does this mean? Basically whatever you buy (from buying ice cream to buying cigarettes) you pay 9% more in taxes. For example, in my state, New Jersey has a 7% rate of sales tax (or consumption tax). So, with this plan I'd be paying 16% no matter what I buy. This is quite absurd.

Not all people have money to pay around with like the rich. (The chart is brought to you by NY Times)

So, the government is demoting the consumption behavior (Economics 101: Rational people respond to incentives), and promoting savings and other investments, which are tax deductible.

Wait, wait a second... How does the FED benefit them by bringing this change? They don't.
It sounds like those of who save more will be benefited and those of who spend more will be punished.
then, we should think about what the majority of the poor and the middle class do with their money. The poor and the working class(middle class) spend (necessary spending not luxurious spending) already so much in their daily lives.. and now that the FED is rising the tax on consumption... this 9% is going to hit them hard "so good" on a daily basis. That means the price of everything will be likely to go up by 9% (not in a literal sense but the way we perceive it).

So.... Why are the Market-friendly Republicans liking this proposal?

and when the tax free foreign imports(from FTA) are released in the domestic market, how are the US corporations going to survive? (It will be hard for the US corporations because the consumers would have to pay 9% more on domestic goods when they can just buy foreign goods for a more reasonable price)

a brief introduction to my school

2011-10-01T23:19:00.000-07:00

Hey, readers ! Today, in this post I want to give youguys a brief introduction to my school.

So, I go to this school Called Fordham University, or "FU" if you prefer this term better.

for more information, there is a link here!

or, if you're into rankings and don't care about other information.... then, click here!

There's a map also.. if you'd like.

well, I'm not enrolled in FCRH(Fordham College of Rose Hill).. Instead,

I'm enrolled in Gabelli School of Business(GSB), which is also located in Rose Hill Campus.

So I guess that works out....

Anyways, I'm a freshman (class of 2015), majoring in Marketing.

(Click on the picture above, if you wanna check out our GSB Blog!)

FU is located in Bronx, NY. (Bronx is known for its botanical garden and zoo)

Speaking of which, Our Campus is absolutely gorgeous.. some people say there's this world of Narnia outside the campus.... because as soon as you walk outside, it is just so different from the environment you experience inside. Basically, there's this notorious and infamous Bronx Neighborhood out there that will catch you off guard (and possibly take your wallet or cellphone if you're unlucky enough.)

So Be Aware!

But, the Fordham community is working hard out there trying to make changes. So, it's definitely getting better.

WELL, LETS TAKE A LOOK AT SOME BUILDINGS

So, there's this Walsh-family Library, which I go on a daily basis.

This is one of our University's landmarks Keating Hall & Eddie's Parade!

This would be. McGinley Hall, in which the cafeteria is located..

This is a picture of our ram statue... which gets molested on a weekly basis by drunk and bored students.. (this includes a wide varieties from performing a handstand to a ram ride.. just imagine what you can do with it. yes, whatever you think is possible... THAT'S WHAT PEOPLE ARE DOING.)

Don't get me wrong, I'm not saying the students should stop doing what they are doing.... I'm no dean of Fordham University.. I can concern less about what kids are doing with their time.

but, it's really fun to watch those pictures posted on Facebook every week. (Yes, I mean it.)

So far, I'm in love with the campus. the fact that it takes from 50mins to 1hr 30mins to get there from where I live is indisputably horrendous. but, it's manageable.

All I've got to say is...

I HATE YOU

Well, that's about it.

Here are some question I'd like to ask you!

Where are you readers from?

What college did you go to (or planning on going to)?

What are some landmarks within or around your campus?

Share your thoughts in the comment section below!

Some thoughts

2011-09-29T12:31:00.001-07:00

Let's say there are these two statements
1.All humans have their fundamental rights(under the mighty constitution).

2. All corporations are humans( In the United States, corporations were recognized as having rights to contract, and to have those contracts honored the same as contracts entered into by natural persons, in Dartmouth College v. Woodward, decided in 1819. In the 1886 case Santa Clara County v. Southern Pacific Railroad, 118 U.S. 394, the Supreme Court recognized that corporations were recognized as persons for purposes of the Fourteenth Amendment. -wikipedia).

Thus, all corporations have human rights. .

Well, even Mitt Romney says it!

So, technically and theoretically, a person can marry a corporation.

And ex hypothesi, a corporation can marry another corporation..

(I say this because the right to marry is contained in the U.N. Covenant on Civil and Political Rights or the U.N. Covenant on Economic, Social and Cultural Rights -wikipedia)

What a romantic country I'm living in...

Wait, but I'm not really sure about the first premise being true though

(if you question this then.. there's something you can do.. "a face palm"

, you can yell "FOR HEAVEN'S SAKE!! WHERE IS HUMANITY?")

the first premise should, instead, be adjusted to something like

"some humans have their basic rights."

Well, that's not even close to be romantic at all.

It sounds totalitarian or fascistic.

But wait, I thought we were against the totalitarian regime? (In a totalitarian state, the government is a single-party dictatorship that controls every aspect of the lives of its citizens. Individual rights count for nothing -from Fresno)

What's going on?

What's the flaw in my logic?

oh btw

they are not just people... they are your family members..