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Neil Cavuto Calls Himself “A Friend And An Admirer” Of Herman Cain

Reported by Guest Blogger - July 1, 2011 -

By Brian

What journalist gratuitously tells his interviewee, especially one running for president, that he’s “a friend and admirer?” That’s exactly what Neil Cavuto told GOP presidential candidate Herman Cain yesterday (6/30/11) during a softball interview as part of Your World’s “Help Wanted” series. FoxNews.com suggestively titled its video of the interview: Help Wanted: Herman Cain.

Cain discussed his economic vision for the country with an obviously-approving Cavuto. Cain said, "Herman Cain has an economic vision… Number one, the business sector is the engine to drive this economy. You must produce before you consume… I would propose a 25% max tax (cut from 35%) for corporations and individuals, and I would also propose suspending taxes on repatriated profits." He went on to say, "Make sure that these tax rates are permanent. Uncertainty is killing this economy… One of the biggest barriers to driving economic growth is the capital gains tax rate. I propose taking it to zero… When we are boosting this economy at at least a 5-6% growth rate, which I believe these tax changes will do, and at the same time, we are serious about restructuring those programs that are driving us off of this cliff of bankruptcy, then we'll have revenues going in the right direction - up. We'll have spending going in the right direction – down - and Neil, the value of the dollar will regain a lot of the respect that it is losing in the world."

Cavuto made a token effort at offering balance. "The President might take issue on this 0% capital gains rate because he will say… a lot of millionaires and billionaires get off paying nothing, nothing."

"That...is...not...true,” Cain said emphatically. “And here's why… If that restaurant makes any cash, and makes a profit, the owner has to run it through his personal income tax return, and if he decides to put it back into the business, he’s got to take a haircut on taxes first. If he decides to invest it and hope he can get some gain on his capital, well, guess what? That's double taxation."

Comment: Check out this column in US News and this post by Michael Linden, Director of Tax and Budget Policy at American Progress.org. The truth is that higher economic growth is achieved with a high tax max.

Thank goodness I never ate at Godfather’s Pizza.



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