Withdrawal of endorsement of Herman Cain


Folks, I have decided to withdraw my endorsement of Herman Cain. There are several reasons why.

Herman Cain has caused a problem for himself by turning his back on us FairTax supporters and adopting an alternative plan. How? By instead proposing to cut the capital gains tax to 0%, thus ensuring that the US Treasury would have no revenue from the CGT and making it impossible to make up for the revenue that would be lost if the CGT is cut to 0%. Thus, he is not able to answer correctly questions about how he would make up for that revenue.

He’s deceiving the American people about the FairTax. He claims he supports it and just wants to implement it later, after he implements his tax cut proposals. This is ridiculous. You don’t cut taxes which the FairTax would ABOLISH ALTOGETHER if you are serious about impklementing the FairTax. I support tax cuts, but the FairTax is a manifestly better solution (and would amount to a net tax cut for all Americans). Moreover, the FairTax already has 72 sponsors and cosponsors in the Congress, and only needs a president who will use the bully pulpit to force the GOP leadership to let the FairTax come to the floor for a vote. 

When asked how he would stop Iran from getting nuclear weapons, and warned that Iran might get nuclear weapons in a year (yes, I know, hypothetical question – even if he wins, he won’t be sworn in as President until 20th January 2013), he said he would bring the price of oil down to cut off Iran’s chief source of revenue. But, as Bill O’Reilly has pointed out, Iran would be able to continue its nuclear program anyway. This is because 1) Russia continues to deliver nuclear fuel to Iran; 2) according to the US intel community, Iran is working on a nuclear weapon trigger and already possesses enough 20%-enriched uranium to produce enough HEU for 4 nuclear warheads if this uranium is enriched further.

Cain did not propose anything other than lowering the price of oil.

On Afghanistan, Cain continues to insist that he can’t propose any policy until he’s sworn in and gets intel briefings and talks to American generals. This is garbage. The American people will not give him a blank check on foreign policy.

He has also endorsed defense cuts, saying that he won’t cut the defense budget arbitrarily, or just to cut the defense warchest, but he will eliminate all wasteful spending projects and redirect the savings towards deficit reduction, not modernization accounts. (Hey, I want to eliminate wasteful DOD spending too, but I want any savings made at the DOD to be reinvested in the DOD.)

In short, Cain is not a serious candidate. He cannot offer Americans anything other than talking points. And by dumping the FairTax, he has caused a problem for himself.

PS: Folks, watch this video:

http://www.youtube.com/thehermancain#p/u/0/D7ilqGVOh4Y

2 thoughts on “Withdrawal of endorsement of Herman Cain”

  1. 1. many people believe that eliminating takes altogether won’t work. Hermain cain is right to propose lowering taxes and eliminating capital gains takes first because it will be a stepping block… not an obsticle to the fair tax.

    2. On foreign policy hermain cain already stated that he would support israel on the ground if iran were to attack. A stronger military alliance with people other than just nato who are serious about fighting terrorism is key to bringing down iran. Unrest has already made things difficult in iran partially due to imposing sactions on iran…. Herman cain will be the president who knows where to fight and with whome we fight. Does that sound like a blank check?

    3. Defense spending cuts: Nothing is exzept from spending cuts… Herman cain understands that if we are able to balance the budjet and reduce spending overall, then we will have both the financial backing and the political backing to increase defense spending. I am in the military… I know allot of the waste… Allot of it is civilians in unions.. which cain also supports propper measures of dealing with.

  2. He has NOT dumped the FairTax. He’s stood up for the FairTax at every turn, but the FairTax could take at least a couple years to gain enough support to get through Congress and to help the people understand it so people do not view it as being “rammed down their throats” as the healthcare legislation was. So, he has constantly said in the first 2 years he will provide immediate relief to the business environment of America by cutting Capital Gains to 0, cutting corporate and personal taxes to 25% and getting rid of taxes on income earned overseas. These things would provide a very big boost for the first 2 years of his presidency. Meanwhile he says he’ll be teaching Americans about what the FairTax will provide to them so that he can pursue that during the last 2 years of his presidency.

    As far as the Iran situation. I think Mr. Cain is very very correct in saying that without the right facts you cannot give good ideas on the topic. President Obama promised to close Guantanamo Bay prison and pull out our troops from Iraq and Afghanistan almost immediately after he got into office. Neither goal has really come all that close to fruition BECAUSE he had NO CLUE how big of a problem those things would be. Had he given the answer that Mr. Cain is giving yes he may have not had as much “Hope and change” to advertise but he wouldn’t have had 2 more campaign promises that he’s broken. I hope you change your mind about Mr. Cain. He is clearly the best candidate running right now. He provides more leadership than any other candidate and he has so much experience in the private sector dealing with individual managers and employees and knows the barriers to creating jobs. He will be a great president.

    Lastly, with defense cuts let me ask you this question. Is our defense strong right now? If yes, then giving wasted money that is recovered toward deficit reduction would not compromise our security at all. If no, then what amount of money would it take to make us safe? Maybe the money would be better spent in other ways of security. Our debt is becoming one of our most dangerous enemies right now and Mr. Cain realizes that we need both a strong defense and a low debt. I believe our defense is still very strong right now and would be even stronger with better leadership such as Mr. Cain. He supports building the missile defense shield in Turkey to protect us better. I think it would be foolish to not use wasted Defense spending on deficit reduction at this point. If this was during Reagan’s administration right after Carter squashed defense spending that’d be a different story but President Obama really hasn’t cut defense spending surprisingly. So, we have adequate funding.

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