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Fox News Host Cheryl Casone Gushes: Here Comes The Cain Train!

Reported by Guest Blogger - October 13, 2011 -

By Brian

A segment on Cashin’ In last weekend (10/8/11), featured a discussion of Herman Cain's “999” economic plan. Cheryl Casone opened the segment with the fawning announcement, "Here comes the Cain train!" She called his plan "easy to understand." She began by asking Wayne Rogers "You're on the Cain train. You think the 999 is mighty fine? Why do you like it?"

Rogers said, "Well, it's simple, as you said, it’s simple, it’s clear, the public can understand it, that’s one of the things that Herman is very good at is he lays it out in a very simple term that everybody can understand. Now, maybe it's not 999, maybe he's got the digits wrong. Ten, ten, ten, would be easier for all of us. Maybe it's 995… Whatever it is, it’s a succinct number, it’s a finite number, and it's easy for everyone to understand, and secondly, it gets rid of the Congress, messing in there and lobbying! …They'll never pass it, but it's a great thing."

Casone laughingly agreed. "A lot of people would like to rid of Congress overall!" She asked about potential "revenue problems" to Jonathan Hoenig.

Hoenig said, "Well that would actually be in my view a positive thing, Cheryl, because it's actually a tax cut, and thus a growth stimulant for the country in general. I mean, Cain's plan is so fundamentally better than the totally arbitrary hodge-podge worth of politically motivated tax law we have now… It's flat, everyone can understand it... It treats everyone the same. It's not the progressive tax code we have now that hurts high income earners and redistributes wealth… It's a great start for this country and would totally re-energize the economy."

Casone asked Susan Ochs, former Treasury Department Senior Advisor, "Do you think his numbers add up?"

"No I don’t,” Ochs said, “and if you look at some of the independent analyses that have been done, they are all saying it's anywhere from $200 billion to 500 billion a year short. Which means we're going to add significantly to our long term deficit, or he's planning massive, really unrealistic spending cuts in the short term."

The ever-resentful Tracy Byrnes liked it because, "It's fair. No one wants to talk about that because under Herman Cain's plan lower income people will actually have to pay something. Right now, over 40% of them don't pay any federal income tax. Under Cain's plan they will… It might not be perfect, but at least he's talking about it. He's the only one out on the campaign trail that is talking about true tax reform. That is what's halting job growth in this economy right now, and whether he's got the right plan, I don't know, but he's certainly got the right idea."

John Layfield was asked about Mark Zandi calling the plan a problem for jobs. Layfield said, "Well you have to understand, Mark Zandi - no offense to him - very much benefits from being on the administration's side… Small businesses are paying this high corporate income tax rate. They're the ones who pay the highest corporate income tax rate in the world... If we could take it down to some flat level. Wayne’s right, it may not be 9, maybe it's 15 ,maybe it's 20, but if we could take it down we would spur hiring in this country."

Finally, late in the segment, Casone acknowledged that maybe the plan was a little too simplistic and that it might really hurt jobs.

Rogers disagreed. "It will help create jobs." Plus, he, too loved the idea of getting Congress out of the picture.

I knew the Cashin’ In crew would love the 999 plan.

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