I have four items for my write-up today on This Is Herman Cain.
1. On pages 152-153, Herman Cain says that the 39 percent of Americans who approve of Barack Obama’s job as President are not informed voters. I really did not care for this statement. For one, a person can be informed about current events and have political positions contrary to those of Herman Cain. Second, there are similarly people on the Left who say that people on the Right are uninformed, and, in my opinion, such an attitude (on both sides) is arrogant and condescending, and it does not advance political discourse. And third (to somewhat contradict my second point), Herman Cain should be able to articulate a coherent understanding of Libya before he accuses anyone of being uninformed (although Cain probably knows much more than I do about a variety of issues).
2. I enjoyed what Herman Cain said about the Ron Paulites who disrupt his appearances. On page 154, he says: “I get the same stupid question [about auditing the Federal Reserve from Ron Paulites] at almost every one of these events. How can a person randomly show up at a hundred events and ask the same stupid question to try to nail me on the Federal Reserve? It’s really becoming annoying more than anything else.” Lol!
3. Chapter 12 is entitled “The Cain Administration: The First Ninety Days”. Cain says that he won’t have too many A-list celebrities at “state dinners and other important occasions” but rather will eat with average Americans. Populist, Andrew Jackson style. I like that!
4. On page 172, Cain proposes eliminating the capital gains tax:
“To provide increased access to capital and incentivize companies to invest in worker training programs, new equipment, and emerging technologies, we must eliminate taxes on capital gains and their dividends. The capital gains tax represents a wall between people with money and people with ideas. And people with ideas are the catalyst for new businesses and new job growth. This is particularly true in the very important technology sector, where experience shows that new technology investments are the largest beneficiaries of reductions in capital gains taxes.”
I’ll probably demonstrate that (on some level) I am the sort of uninformed voter whom Herman Cain criticizes (see Item 1), but I do not entirely understand what Cain is saying about capital gains. This article says that the capital gains tax is on “any money we make from the sale of stocks, real estate and other capital assets.” This wikipedia article says capital is what is used to produce goods and services. Is Cain’s idea that a person will be more encouraged to sell stocks, real estate, and capital if he did not have to pay the capital gains tax on the money he makes from selling them? Then, the buyers create jobs as they use the capital they have bought? Are “the people with money” the buyers of the capital, whereas “the people with ideas” are the ones developing and selling the capital—-which means that eliminating the capital gains tax will encourage them to develop the capital because they’d make a larger profit off of selling it?