Herman Cain Spars with Bill O’Reilly on the Dynamic Power of Tax Cuts – Video 6/9/11

Here is video of Herman Cain talking with Bill O’Reilly last night.

Cain was asked what Obama has specifically done wrong on the economy, and he immediately cited that he has not lowered tax rates and he has increased regulation on businesses.

O’Reilly asked Cain what he would do, and he said he would lower tax rates on businesses and individuals and move the Capital Gains Tax Rate to “0%.” O’Reilly argued that would reduce revenue to the Federal Government, but Cain never agreed with that assumption. Instead, Cain argued that the business activity and private investment that would be spurred by lower taxes and no Capital Gains Tax would bring in actually more revenue to the Government – not less. He said Bill was using “static analysis” while he was using “dynamic analysis.” He cited Kennedy’s tax cuts in the 1960’s and Reagan’s cuts in the 1980’s as an example of what he was talking about.

Interestingly, when asked how he would stop Iran from getting a Nuclear Weapon, Cain said that an energy strategy is the key. He argued that if we can produce more energy at home and get the price of oil down to $70 a barrel, Iran would not have enough money to continue their Nuclear Program. O’Reilly was unconvinced that would stop Iran from producing Nuclear Weapons.

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