Cain Vs. Obama: A Comparison of Economic Issues

A breakdown of the numbers and the issues

(Image: Thinkstock)

Job Creation

Cain: Can the former pizza magnate, who was known for slashing headcount, be a massive job creator? On the one hand, Cain says no – at least in theoretical terms. “First of all, government can’t create jobs,” Cain has said. “The business sector creates jobs when businesses grow, and 9-9-9 encourages and inspires businesses to grow.”

 

On the other hand Cain has also said his 9-9-9 plan would create the right environment for growth, allowing him to create 6 million jobs and cut America’s jobless rate in half.

Obama: In September 2011, President Obama unveiled the American Jobs Act, a $447 billion plan that has already been rejected by the Senate. The centerpiece of this proposal involves more loans and access to capital for entrepreneurs, as well as greater tax cuts to small businesses to help them hire and grow.

The tax breaks would be accomplished in three ways: slashing the payroll tax in half for the first $5 million in wages paid; temporarily eliminating employer payroll taxes on wages for new employees or raises for existing workers; and allowing large and small businesses alike to claim 100% expensing in 2012 for the investments they make in new plants and equipment.

Other components of the American Jobs Act involve tax credits up to $9,600 for those who hire veterans; increased investments to the tune of $50 billion in roads, railroads and airports; and $25 billion to update more than 35,000 schools nationwide. All of these efforts and more, Obama says, will put 2 million people back to work and bring down the U.S. unemployment rate, which now tops 9%.

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  • John Prine

    Your description is obviously bias toward Obama. You fail to point out that Cains plan would collect money from all the drug dealers, illegals, people who work for cash under the table ect. with the consumtion tax. It would also eliminate the freeloaders who get a refund paid for by the tax payer when they have done nothing but taken from the system and not paid anything in. Everyone should pay something if it’s only $100.

  • Gene Poole

    The Presidents spend, spend and more spending plan will eat up any tax increases, even if we take everything the Rich own.

  • Dennis Nelson

    Well Both Obama And Cain Tax Plan Will Sure Get A Close-Up Look From The People Who Are The So-Called Tax Experts And Hopefully Their Analysis Will Give One Of Them Other The Thumps-Up!

  • Deb Plackett

    This article is fruitless, as neither Cain or Obama will be an issue come 2013. The American people have seen and experienced enough from two mouth pieces that have no real concerns for America but instead for their own personal power. You can thank Mr. Obama for making the first “black” president a farce.

    • Catalina

      Regarding the rate … why is our current inmcoe tax rate acceptable, but the proposed FairTax rate isn’t? Because you’ll see it all the time rather than once a year? The rate is designed to be federal revenue neutral (i.e., to raise the same amount of revenue as the federal inmcoe tax et al. does now)–so the cost of government on the country is already equivalent to the FairTax rate. If the FairTax’s proposed rate is too high, what that really means is that the cost of government is too high. Of course we already knew that … but at least we’d be reminded of it on every purchase we make, and maybe at last work up enough consistent outrage across the country to actually do something about it. The cost of government should be out in the open and in our faces, not hidden by being divided up and rarely seen as it is now.

    • Marjolein

      Just whom do you have in mind as someone who could eialsy beat a sitting president by attracting votes from the center? Attracting the right wing is necessary but not sufficient. The always frowning Republicans in Congress or the governors attacking their own workers and immigrants who do so much of the nation’s work? All the pandering to the social conservatives doesn’t do much to attract the center voters who want economic solutions other than the trickle-down ideas of cutting the tax burden on the rich and corporate. Don’t the supply-siders ever learn? Not if they spend their time in an echo chamber. People who are hurting and scared would prefer leaders who are trying to do something.