Police say suspected Maoist rebels attacked a convoy of cars carrying local leaders and supporters of India's ruling Congress party in eastern India, killing at least 16 people and wounding 25 others.Full Story >
Officials reacted with outrage Sunday to an audacious attack by about 200 suspected Maoist rebels who set off a roadside bomb and opened fire on a convoy carrying Indian ruling Congress party leaders and members in an...Full Story >
The winner of the men's race at the Boston Marathon says he is returning his winner's medal to honor the city and those killed and injured in the terrorist bombings near the finish line of one of the...Full Story >
The winner of the men's race at the Boston Marathon says he is returning his winner's medal to honor the city and those killed and injured in the terrorist bombings near the finish line of one of the world's top...Full Story >
The woman hired to clean up Rutgers' scandal-scarred athletic program quit as Tennessee's women's volleyball coach 16 years ago after her players submitted a letter complaining she ruled through...Full Story >
The woman hired to clean up Rutgers' scandal-scarred athletic program quit as Tennessee's women's volleyball coach 16 years ago after her players submitted a letter complaining she ruled through humiliation, fear...Full Story >
Herman Cain calls it his bold 9-9-9 plan. The idea is to scrap the current very confusing tax code and replace it with a simple flat tax.
Cain says this would be a fair tax. Instead of having, as is currently the case, only 53 percent of the country pay any federal income tax, everyone would pay something and the same percentage, 9 percent.
The corporate tax rate would drop from the current top rate of 35 percent, to, you guessed it 9 percent. And the plan would create a whole new tax. A national sales tax again set at 9 percent.
The 9-9-9 plan has helped to push Cain to a front runner for the nomination and that drew a lot of attention during Tuesday night's debate.
"I think it is a catchy phrase. In fact I thought it was a price of a pizza when I first heard it," said former Utah Governor Jon Huntsman. Here's what we need, we need something that is doable, doable, and doable."
Minnesota Congresswoman Michelle Bachmann added "When you take 999 plan and turn it upside down I think the devil's in the details."
Some pretty good shots were taken at the plan. But kidding aside the details are important. There are 2 major criticisms of the plan.
Would the plan raise enough revenue to replace the current tax code?
Cain claims his system would raise as much tax revenue as the current complex system of federal income tax, corporate taxes and payroll taxes. He believes his plan could bring in additional revenue by boosting economic growth.
Tax experts from various nonpartisan think tanks, including the Tax Policy Center, a non-partisan group, say without seeing more details of the plan than Cain has released thus far, they can't say for sure whether the system would match current tax collections, or add to the deficit. They also say it is theoretically possible if you are taxing all consumption.
Keep in mind, the 9 percent could bring in more corporate tax money than the current system because the plan eliminates most tax loopholes and would charge a consumption tax on businesses that purchase goods from other businesses. Those would no longer be tax write-offs. Which would make it more like a value added tax on corporations.
The other big question, is the 9-9-9 plan fair to low income Americans?
Herman Cain has answered critics in the past by saying that 9-9-9 would not increase the tax burden on the poor, it would lower it.
That is because under 9-9-9, payroll taxes would be eliminated, right now, the feds take 15.3 percent from your paycheck before it ever gets to you.
Under Cain's plan, only 9 percent would be taken which would result in every working American paying 6 percent less in federal taxes than they do now.
Here's what you need to know.
Much of this plan still has to be explained. There does appear to be one major flaw. What happens if the federal government says it needs more money?
The 9-9-9 rates could increase. So far, there is nothing to prevent that happening in the future and unless there is a way to lock those rates, the 9-9-9 plan, could become the 15-15-15 plan, and ultimately a 30-30-30 plan.
Saturday, May 25 2013 9:52 PM EDT2013-05-26 01:52:50 GMT
Memorial Day weekend began with a violent 24 hours in the City of Cincinnati. Two people were killed and three others wounded in four separate shootings. Despite the recent gunfire, the faith communityFull Story >
Memorial Day weekend began with a violent 24 hours in the City of Cincinnati. Two people were killed and three others wounded in four separate shootings. Despite the recent gunfire, the faith community delivered a message of hope.Full Story >
Saturday, May 25 2013 10:21 PM EDT2013-05-26 02:21:50 GMT
LOUISVILLE, KY (WAVE) – The first Bardstown police officer killed in the line of duty in the department's 150-year history was ambushed, possibly from a hilltop, according to the Jefferson County Coroner'sFull Story >
The coroner said a 12-gauge shotgun was used to shoot K-9 Officer Jason Ellis multiple times -- possibly from a hilltop -- early Saturday morning on an off-ramp leading from the Bluegrass Parkway to Highway 55 in Nelson County.Full Story >
Saturday, May 25 2013 8:26 PM EDT2013-05-26 00:26:42 GMT
Police responded to a fatal shooting in Millvale on Saturday afternoon. It happened in the 3000 block of Bowling Green Court around 1 p.m. Upon arrival, officers found Quentin Snell, 21, inside a vehicleFull Story >
It happened in the 3000 block of Bowling Green Court around 1 p.m. Upon arrival, officers found Quentin Snell, 21, inside a vehicle. He was pronounced dead at the scene. A second victim was taken to a nearby hospital.Full Story >
Saturday, May 25 2013 7:23 PM EDT2013-05-25 23:23:27 GMT
BARDSTOWN, KY (WAVE) - K-9 Officer Jason Ellis, 33, was shot and killed on the ramp of Exit 34 from the Bluegrass Parkway to Highway 55 in Nelson County early Saturday morning. A 911 call from a womanFull Story >
K-9 officer Jason Ellis, 33, was the first Bardstown police officer killed in the line of duty.Full Story >
Saturday, May 25 2013 9:09 PM EDT2013-05-26 01:09:34 GMT
A group of concerned Tri-State residents joined a national movement on Saturday regarding genetically engineered foods and the seed giant Monsanto. "March Against Monsanto" organizers say they're callingFull Story >
"March Against Monsanto" organizers say they're calling attention to the dangers posed by genetically modified food and the companies that produce it.Full Story >
Monday, May 6 2013 1:29 PM EDT2013-05-06 17:29:07 GMT
A man charged with public indecency is expected to appear in court. Police say 36-year-old Jason Fletcher and Laura Oditt engaged in sexual conduct in a public place. The location is not named in courtFull Story >
A man charged with public indecency is expected to appear in court.Full Story >
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