I called into the Herman Cain Show today to explain why he doesn’t understand tax law. Here’s the audio link.
His argument is, essentially, that if businesses were taxed less and there were less regulations, then they could make more jobs.
In actuality, the law says that expenses of compliance with regulation and wages paid to employees are tax deductible. So, the inverse is actually true: if corporations or employers want to diminish their tax liability, they should spend more money on wages or spend money on expanding their business.
He was forced to revert back to his “experience in running companies.” This is just a prime example of conservatives running scared: when the rhetoric fails under the law, you must force personal experience.
EDIT: I went to download the audio, you can’t do that. So I decided to illegally bootleg myself for you to hear. Apparently, it was breaking news that Dekalb County schools are terrible, so they cut me off, and some of Herman’s response. It’s ok though. I was told by his producers not to quote the law (as I am wont to do), because she didn’t want me to “confuse [Herman’s] audience.” It’s ok. I understand. Dumb followers can’t follow the law. Except for followers of the David Dorer Show.
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