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Detailed text transcripts for TV channel - MSNBC - 20111013:00:39:00

Basically a 9% price increase on every automobile sold in america. that would pretty much that would be the most destructive thing anyone could think of for the american automobile industry, isn t it? it s not just that. since there s no mention in cain s plan about any exemptions, we have to assume that if you go to the hospital and you have a $100,000 operation, you re going to have to pay $9,000 more on top of that. all food, all clothing, rent, would have to be covered. but i ve heard him say at the same time, i didn t read this in his plan, i heard him say this, that used goods would somehow or other would be excluded. that s just going to make a massive complication of our whole consumption system and of course the national sales tax will be on top of state and local sales taxes. many people are going to be paying 20% at the checkout. so, for example, in the ....

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Detailed text transcripts for TV channel - MSNBC - 20111013:07:32:00

You turn it upsidedown, i think the devil s in the details. in the spotlight tonight, herman cain s media honeymoon as the front-runner ends right here, right now. the truth about herman cain s 9-9-9 america. herman cain s 9-9-9 tax plan is the most vicious assault on the middle class and the working poor and the most lavish giveaway to the rich that has ever been proposed by a presidential campaign front-runner. we have issued a standing invy take to herman cain to return to this show and respond to everything you are about to hear about his 9-9-9 plan. much of which you will be hearing for the first time. like his plan to abolish social security and medicare. you haven t heard about that because his republican opponents haven t bothered to actually read the 9-9-9 plan. here s what it says about social ....

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Detailed text transcripts for TV channel - MSNBC - 20111013:07:41:00

Cain manifesto, there are all sorts of reference to how all, all social spending should be abolished, any kind of social safety net spending should be abolished, which he would have to do if he was going to switch over to this plan which would very likely crush the economy in so many ways. let s go to the 9% income tax. how that works throughout the income structure. obviously at the bottom it hurts very badly. at the top it is just an incredible windfall. well, that s right. keep in mind that the tax base under c arks ain s plan on the income side is not remotely like the income tax people are familiar with. there would be no personal exemption. no standard deduction. no deduction for mortgage interest. no child credit. no earned income tax credit. so basically you can take your total gross income, including some things like municipal bond interests that are not even part of gross income, and you can ....

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Detailed text transcripts for TV channel - MSNBC - 20111013:03:39:00

America. that would pretty much that would be the most destructive thing anyone could think of for the american automobile industry, isn t it? it s not just that. since there s no mention in cain s plan about any exemptions, we have to assume that if you go to the hospital and you have a $100,000 operation, you re going to have to pay $9,000 more on top of that. all food, all clothing, rent, would have to be covered. but i ve heard him say at the same time, i didn t read this in his plan, i heard him say this, that used goods would somehow or other would be excluded. that s just going to make a massive complication of our whole consumption system and of course the national sales tax will be on top of state and local sales taxes. many people are going to be paying 20% at the checkout. so, for example, in the housing industry, new housing would cease in america. there would be no more building ....

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Detailed text transcripts for TV channel - MSNBC - 20111013:03:06:00

Around him. rick perry drops out of that slot. herman cain moves into that slot. what s going on with mitt romney in. well, his numbers don t move any more than his hair does, but if you talk to people in new hampshire, when i was up there yesterday and today, was at the debate then i heard herman cain before the new hampshire legislature which i want to tell you about. first on mitt romney. somebody observed to me a very shrewd politician up there observed to me that even though romney s numbers in new hampshire look good, and he s in the low 40s in new hampshire, the road signs, the signs you see for mitt romney are on the public highways and have been placed there by staff people. you don t see any mitt romney signs on people s lawns. it s the difference between paid staff on public highways and personal commitment. he just doesn t have personal commitment. he has the establishment in new hampshire and that s about it. ....

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