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Detailed text transcripts for TV channel - FOXNEWS - 20111014:08:51:00

presidential pick. and also senator jim demint as vice presidential pick. this is interesting. good people to mention, certainly, especially to generate additional enthusiasm among conservatives. where herman cain is trying to go with the 9-9-9 plan is where we need to go. what is surprising if you look at the republican field how timid the other candidates have been about tax reform proposals. at a time when this economy the supercommittee is debating tax reform but the presidential republican candidates haven t made it a major issue the way herman cain has and has done it successfully. the problems with the plan i think are keeping an income tax. if you add sales tax do everything you can to eliminate the income tax. bret: that is phase two, he calls. 9-9-9 is second phase of three-stage plan ending with a national sales tax, eliminating the i.r.s. bret: fair tax as it s talked about. it would have been smarter more radical certainly, smarter to go from just the

Detailed text transcripts for TV channel - FOXNEWS - 20111014:08:53:00

corporate taxes what are you paying taxes on? on goods? yes, says herman cain. what about services? i don t know. we don t know. and again, when it is score by independent budget analysts they say it doesn t produce sufficient revenue to run the government. less revenue than we are getting now. bret: in part, they respond, the cain folks respond they don t dynamically score it. they don t take into account generation of revenue that would come from simulating the economy so dramatically. this is laffne s point but this is speculative. if you look at the facts the way they stand it doesn t carry water. if you look at the plan, the virtue of the 9-9-9 plan in addition to branding involved from a businessman. bret: spirit airlines has already taken it. i love that part of it. if you look at that part, people say to me all the for my criticism of it, it s simple and coherent. i understand it. it s something to me that speaks of conservative virtues

Detailed text transcripts for TV channel - FOXNEWS - 20111014:08:49:00

someone once said consistency is genius. i think this is why i got so many arrows last night relative to 9-9-9. it is a well thought out, well developed plan. if you have with income tax one needle in your arm drawing out blood, why would you take three needles and stick them in, on the promise that they ll only take as much as they used to take? i think the danger is they drain you three times as fast. this plan is a very efficient way to collect the requisite revenues we need to run government. so i think it s a very good and efficient plan. if i could do anything to stop future politicians from ever raising taxes, i would love to figure it out. bret: art laffer economist for president reagan met with herman cain about this 89-9-9 9-9-9 plan and signs on to it there is the latest wall street journal /nbc news poll raising eyebrows and the

Detailed text transcripts for TV channel - FOXNEWS - 20111014:08:45:00

argument basically. this is something that republicans have been pushing. they have been pushing it again and again and again. whether in the form of legislation, or the form of original paul ryan budget. pro-growth plans. just because they didn t do it in direct response to the president, that is not their job. i suspect many people on the left are criticizing the republicans if they waited until after the president presented his proposal to present accountable. so republicans have been pushing this for long time. president wants to campaign on this. this is the 2012 election. we re watching it now. bret: you can hear the thunder behind us. do we have a shot of the white house? pretty ugly outside. we thought we d go to break here. next up, herman cain. can he win? and do you understand the 9-9-9 plan?

Detailed text transcripts for TV channel - FOXNEWS - 20111014:08:30:00

doubts what he called the direct correlation between crime and the number of police need to look no further than that city. finally, as you heard, republican presidential candidate john mccain often refers to himself as hazzndaus black walnut ice cream when asked if he was the flavor of the week. it might have been a flavor of the week but they tell us it was introduced in 2005 and discontinued in 2009. we reached out the cain s staff who joked the candidate might shop around for another flavor. america often been called the land of plenty. which is why the subject of the next report by senior national correspondent reports is so shocking. he says many of rus dying for what most of us take for granted. after-school counselor has the three-pointer nailed but

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