Mark Wilson/Getty Images
Republican presidential candidate Herman Cain speaks prior to Florida's President 5 straw poll at the Orange County Convention Center on September 24, 2011 in Orlando, Florida. Cain won the straw poll with 37.11% of the vote.
Yesterday, the Patt Morrison Show took a closer look at Herman Cain's now-celebrated 9-9-9 plan. If you're curious about how a flat income, sales, and corporate tax would all work together, check out my post on the topic:
And if that's not enough Hermanomics for you, I've also provided a useful rundown on his plan to reform Social Security along the lines of what he calls the "Chilean Model":
There's no question that with his mantra-like tax plan, Cain has captured the attention of his opponents in the Republican presidental-candidate race, as well as the national media and no small number of voters — and taxpayers — who find taxes bewildering and would like an easy fix.
Today's tweet comes from KPCC's own Madeleine Brand Show, which has evinced a preoccupation with a character being called the "Hipster Cop." The New York Times has the full exposé on this NYPD law-enforcement icon, now a symbol of his times. The beauty of his look? It's oh-so now. You can show that you're down with #OWS and also give your skinny pants, slim ties, and snug cardigans, not to mention your nerd-frame glasses, a workout.
Protesting the financial elite never looked to fashionable.
No sign yet of an LA hipster cop. Which is a bit sad, as police HQ is right across the street from City Hall, where Occupy LA has camped out. Maybe a hipster cop isn't our thing, however. I think possibly...Surfer Cop?
Southern California was once a center for defense contracting. The Golden Age has long passed. But there's a revival afoot, and it doesn't mean jet fighters, bombers, and ICBMs. It means something more modest. The solider of the future is...a hummingbird?
That's what Monrovia, Calif.-based AeroEnvironment thinks. The company already builds drone aircraft. Right now, it's working on a concept for an autonomous, bird-like surveillance nano-drone. Drones are becoming increasingly important on the modern battlefield. And in this area, Southern California is once again taking the lead.
The hummingbird soldier of the future: it's the hummingbird...made...lethal.
I made my way down to Occupy LA yesterday. The movement has for all practical purposes surrounded City Hall in Downtown Los Angeles. To my eye, it looked as if there were hundreds of tents. Some of the protesters were a bit scruffy, but the area was peaceful and calm.
Unfortunately, a tour of the scene quickly revealed a BIG PROBLEM: Occupy LA lacks a uniform graphic indentity. It has a common, unifying slogan: "We are the 99%." But the leaderless Occupy Movement has so far resisited a common signage.
As a result, there's a serious proliferation of slogans, to go along with the 99%er complaint. I photographed a few, so enjoy the slide show! If I have a criticism, it's that they were all over the place. But the ad-hoc nature of the slogans, taking issue with everything from nuclear power/weapons (I guess) to Congress, fits with the spirit of the Occupy protest. I suppose I can say I was there before they sold out the movement's original, inclusive energy in the interest of talking points.
Eric Richardson / blogdowntown
Those participating in Occupy Los Angeles march toward City Hall.
Ah, the Wall Street Journal. It serves capitalism, but it's also a newspaper, so it wants to jump on trends. Add some nifty, number-crunching online technology to that and you get this calculator, which will swiftly tell you just where you fall in the U.S. income distribution.
Give it a try! But don't get hung up on income! Remember that much of the top 1%'s wealth comes from capital gains, not wage income. So you might be looking pretty good as a household if you bring in $200,000 per year and rank in the 94th percentile. But remember that you're then taxed at the 28 percent IRS rate, while a true 1%er — which I define as a member of the U.S. financial elite, making money from money rather than from labor — is seeing their capital gains taxed at 15 percent.
There are plenty of people in the U.S. who think they're rich, but they aren't. And even if they're in the 1% as set by earnings ($506,000 annually), the gulf between you and a 1%er who makes the same off less heavily taxed investment and divident income is vast.