Herman Cain Lies to Ron Paul's Face About the Federal Reserve at GOP Debate
Always falling back on the old "You can't believe everything you read on the internet, yada, yada, yada... Mantra. I agree you can't believe everything you read on the internet, but you can believe even less from the Conditioned Programming Lame Stream Media. The Internet is a resource receptacle just like a library. You go there to find information. If you have a couple of well-rounded resources with in-depth research of information, then it is as good as gold. It all depends upon the researcher, not upon the resource. Antone who doesn't understand this is intellectually lazy and I doubt they have done much research themselves.
Many of the lazy reporters covering the debate went along with Mr. Cain's response that you can't believe everything you read on the internet and then called Ron Paul out as though he didn't have his facts straight? As was pointed out on the United Liberty Blog. by author Jason Pye:
Well, there’s a problem with this. Herman Cain wasn’t misquoted. While filling in for Neal Boortz back in Decembert 2010, Cain was very dismissive of calls to audit the Federal Reserve (you can hear it in his voice) and did in fact say that people were calling for such a statutory measure “don’t know enough about [the central bank]” (emphasis mine):
[T]he Federal Reserve already has so many audits, it’s ridiculous. I don’t know why people think we’re gonna learn this great amount of information by auditing the Federal Reserve. Now, I no longer serve on the board of the Federal Reserve. I’m not being defensive of the Federal Reserve; in fact, some of the policies and some of the actions of the Federal Reserve, I don’t agree with because the attitude and the non-politization in the 90’s when I served is totally different than what’s going on today. But that’s another matter.
But people who say, “we outta audit the Federal Reserve because we don’t know enough about it.” Well, here’s the advice I’ve given to people who ared worried about an audit of the Federal Reserve; call ‘em up, and ask ‘em if you can stop by and have one of their PR people or one of their Public Relations people explain to you how the Federal Reserve operates.
I think a lot people are calling for this audit of the Federal Reserve because they don’t know enough about it. There’s no secrets going on in the Federal Reserve, to my knowledge. And I tell people, we’ve got 12 Federal Reserve banks, find out which district you’re in, call ‘em up and go from there.
We don’t need to waste money with another commission, or an audit that’s not necessary, because, folks, we’ve gotta lot of other problems we need to worry about.
Cain’s TARP talk, praise of the Fed could hurt him with conservative voters - The Hill - Cameron Joseph - October 13, 2011 - Businessman Herman Cain has shot to the top of the polls with support from Tea Party members, but his backing of the Troubled Asset Relief Program and opposition to auditing the Federal Reserve could hurt him with those same voters... “Among the Tea Party audience, the TARP bailout is something they’re adamantly against, and they’re going to absolutely need to hear more from him on this issue to be comfortable with him,” said Russell. “I don’t know one Tea Party activist who’d say it’s a bad idea to audit the Fed, that’s not a popular position for him to be staking out.”... Cain served as chairman of the Kansas City Federal Reserve in the mid-1990s and, in Tuesday’s debate, expressed his admiration for former Reserve Chairman Alan Greenspan. “The way Alan Greenspan oversaw the Fed and the way he coordinated with all of the Federal Reserve banks, I think that it worked fine back in the early 1990s,” Cain said.
Tax group: 9-9-9, a 'major tax cut' for the rich, 'substantial' increase on others - NBC - Domenico Montanaro, Political Reporter, NBC News - October 13, 2011 - The non-partisan Tax Policy Center is readying a report on Cain’s plan, though it is waiting for more details from the campaign. But it has come to some conclusions already. Cain’s plan "cuts taxes for the rich and raises taxes on the poor,” Roberton Williams, a senior fellow at the center, tells First Read. He added that it would create a "much more regressive tax system.” The plan would represent a “major tax cut” for the rich and raise taxes “substantially” on the poor and middle class, Williams said. "Given that a big chunk doesn’t pay any income tax, this would be a big tax increase on people at bottom end. At the top end, the opposite happens." The top end would go from about a 35% income tax rate to 9%. "That's a big, big drop," Williams said, adding that the capital-gains tax would be another added benefit for the wealthiest. "People at the top would see far and away the largest share of the gains. Those people are going to see a huge tax cut." Currently, there is no federal sales tax. There are state sales taxes, however, and Cain’s plan would add 9% to those. So, in Iowa, for example, where there is a 6% sales tax, that would mean a 15% sales tax.
