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Herman Cain: The Banks want to help people, they really do!

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TacticalFox88 said:
If Obama is re-elected...holy shit.
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I think we'd see a pretty significant split in the party if
when
that happens. The crazy is starting to catch up with them and is marginalizing a lot of old-school Republicans who aren't dumb enough to buy into the bullshit.
 
It's okay guys, Cain's 9-9-9 plan will protect middle class homeowners.

T11-0375.gif


Oh. Whoops.
 
Is there no one advising this guy to how dumb he is? Or does he; and this is a frightening thought, surround himself with advisers who are perhaps even dumber than he himself is?

And even more frightening; how is he given any credence? Why is he not laughed off of every debate and news program that he would dare go on? Are there people who think like him, is he supposedly respected by other members of the republican party and American citizens?

Has the country seriously lost it's shit and gone daft to give him any serious consideration in running anything more than a fever?! He's fucken mental!
 
Black Mamba said:
It's okay guys, Cain's 9-9-9 plan will protect middle class homeowners.
Oh. Whoops.
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Heard on NPR today that Perry's now trotting out a flat tax as his tax plan, while simultaneously bashing Cain's tax plan which does the same exact thing. How stupid can these people be.
 
XMonkey said:
Heard on NPR today that Perry's now trotting out a flat tax as his tax plan, while simultaneously bashing Cain's tax plan which does the same exact thing. How stupid can these people be.
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Hold up, flat tax as in the same tax rate for the rich and poor?
 
XMonkey said:
Heard on NPR today that Perry's now trotting out a flat tax as his tax plan, while simultaneously bashing Cain's tax plan which does the same exact thing. How stupid can these people be.
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Considering that neither party has plans to ever cut spending or reform entitlements, a flat consumption tax is actually a good idea.
 
How dare anyone come up with new ideas since what's happening right now is working so well. I mean unemployment has plummeted since Obama took office.

Oh wait..
 
MBison said:
How dare anyone come up with new ideas since what's happening right now is working so well. I mean unemployment has plummeted since Obama took office.

Oh wait..
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In before someone runs in and defends the stimulus with an illogical view on economics and the reality of our current tax system.
 
There needs to be an Elcor-like preface before people post in political threads.

Serious: I can't tell the difference between parody and willful ignorance anymore.
 
remnant said:
Considering that neither party has plans to ever cut spending or reform entitlements, a flat consumption tax is actually a good idea.
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Yeah, remember when the Democrats didn't cut $500 billion from Medicare and introduce cost saving mechanisms to the health care system in 2010. We should raise taxes on people who earn $10,000/yr by 10% (and cut taxes on the rich). That will solve our problems.
 
I agree, banks should have a lot more freedom. But in crisis situation goverment should just let them rot, leave them all alone and instead help customers of those banks.
 
thekad said:
Yeah, remember when the Democrats didn't cut $500 billion from Medicare and introduce cost saving mechanisms to the health care system in 2010. We should raise taxes on people who earn $10,000/yr by 10% (and cut taxes on the rich). That will solve our problems.
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Yeah I remember when the democrats promised cuts in future spending and passed a healthcare bill that now, years after the fact they have admitted doesn't have a working mechanism to save money.

CLASS provision loltastic

And are now pushing a tax reform that does pretty much nothing. Fight for millionaire surtax that adds just enough future revenue for another stimulus package. Awesome. That totally going to pay all of our future obligations.
 
AdrianWerner said:
I agree, banks should have a lot more freedom. But in crisis situation goverment should just let them rot, leave them all alone and instead help customers of those banks.
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But it was the banks having way too much freedom that led to the crisis situation.
 
remnant said:
Yeah I remember when the democrats promised cuts in future spending and passed a healthcare bill that now, years after the fact they have admitted doesn't have a working mechanism to save money.
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Got a link for the bold? Curious.
 
Divvy said:
But it was the banks having way too much freedom that led to the crisis situation.
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So? You can't fully prevent crisises anyway. If it happens just bail out the people, not the banks. Crisis wouldn't be anywhere near as bad if goverments did that.
Instead they just gave banks the money and banks began to just sit on that money
 
XMonkey said:
Got a link for the bold? Curious.
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Health and Human Services Secretary Kathleen Sebelius on Friday called a halt to the implementation of the Community Living Assistance Services and Supports (CLASS) longer-term insurance program, saying there is no “viable path forward … at this time.” That means a key component of Obamacare is dead. True to form, however, the White House is doubling down, insisting that the CLASS program must be preserved. Congress needs to make sure that never happens so this scheme remains buried.

The CLASS Act was supposed to have offered coverage beginning in 2012. Monthly premiums would have ranged from $235 to $391 generally and in some cases would have gone as high as $3,000. In return, the program would provide long-term care daily benefits of as little as $50 per day. That made enrollment in this government-sponsored program an extremely unattractive option for healthy people. Without large numbers of people signed up, the program simply wasn’t viable.

The result is what economists call “adverse selection.” A smaller pool of people sign up for a program, and this pool consists of the people most likely to need services. If healthy people are not attracted to the program, everyone’s premiums necessarily must rise. This sets off a spiral that inevitably causes the program to collapse.

These fundamental problems couldn’t have been fixed with eligibility restrictions on enrollment, as legal challenges likely would have prevented such changes. The law also required that the Obama administration certify that CLASS remain financially solvent for 75 years before it was put into place. Instead, the chief actuary of the U.S. Centers for Medicare and Medicaid Services predicts a deficit starting in 2025 - a mere 13 years in. No wonder Mrs. Sibelius pulled the plug.

The CLASS Act was a boondoggle from the very beginning, including the supposed $86 billion savings it was supposed to contribute to the federal deficit across 10 years, according to estimates from the Congressional Budget Office (CBO). Those “savings” were nothing more than accounting fictions. The program was heavily front-loaded to give the appearance of solvency. As CBO itself acknowledged, “The cash flows under [CLASS] would generate budgetary savings (that is, a reduction in net federal outlays) for the 2010-2019 period and for the 10 years following 2019, followed by budgetary costs (an increase in net federal outlays) in subsequent decades.” Translation: bigger deficits starting in 2020. No wonder CBO has announced that demise of the CLASS Act won’t add to the fiscal deficit.

The good news is that Republicans seeking to repeal the CLASS Act won’t have to seek spending cuts to offset any purported savings. As the 2,000-page Obamacare legislation is being implemented, we see just how troubling an increasingly large number of provisions are turning out to be. After having flunked once already, Congress needs to ensure the CLASS Act doesn’t get a chance to repeat this grade
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http://m.washingtontimes.com/news/2011/oct/19/class-act-dismissed/
 
AdrianWerner said:
So? You can't fully prevent crisises anyway. If it happens just bail out the people, not the banks. Crisis wouldn't be anywhere near as bad if goverments did that.
Instead they just gave banks the money and banks began to just sit on that money
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In many aspects, it was preventable. Large parts of the banking sector were completely opaque, not just to regulators, but to other banks and themselves, which hid the risk in the system. That is just one of many changeable problems.

And it doesn't mean anything to "bail out the people" without a specific mechanism to accomplish it. There are no shortages of possible solutions, especially through the modification of mortgages, but it's not easy, and anything that explicitly reduces the debt burden of individual people means that lenders, for example, banks, will need to be recapitalized.
 
remnant said:
http://m.washingtontimes.com/news/2011/oct/19/class-act-dismissed/
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And what is that supposed to prove? The CLASS act was controversial from the start. And actually, it lends more credence to the rest of the bill. The CBO already knew that the savings of the CLASS act were front-loaded, yet still scored the entire ACA bill as a money saver in the second decade. According to them, the entire reform initiative will still save hundreds of billions of dollars, in spite of the costliness of the CLASS act. The CLASS act probably shouldn't have made into the bill in and might not have if it weren't Ted Kennedy's legislation.
 
Banks don't produce shit and charge an insane amount to be a middle hand
Banks need to be extremely regulated
 
Speaking of "mechanisms to save money", there is good news on the healthcare reform front:

It’s a big moment in health policy wonk land right now: the Obama administration has just published the final Accountable Care Organization rule. You can read all 694 pages of it here.

Sound dull? Let’s rephrase: The Obama administration has just released a regulation that could decide whether the American health-care system moves past the broken, expensive fee-for-service model. The idea is to encourage groups of providers to band together into “accountable care organizations” and accept a flat fee for all care related to a particular patient or condition. If they could deliver high-quality care in a cost-effective way, they could keep the money they saved. The hope is to do nothing less than change the basic business model of American medicine from making money by getting patients to spend more money to making money by saving patients money.

The administration has removed a few onerous regulations that medical groups were complaining about. I was worried that these regulations could destroy the entire point of ACOs.
 
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