Blog Posts by Chris Moody, Yahoo News

  • Perry: End subsidies and tax credits to all energy companies

    Perry (Michael Conroy:AP)In his first major policy speech as a presidential candidate, Texas Gov. Rick Perry outlined a plan to increase domestic energy exploration Friday, but vowed to end federal subsidies and tax credits for all energy industries.

    Speaking at a steel plant in Pittsburgh, Pa., Perry said that his plan "will kick-start economic growth and 1.2 million American jobs." He explained that he intends to implement the proposal through "a series of executive orders and other executive actions" within the first days of his presidency.

    The plan, which would eliminate federal regulations on business and industry, would also strip companies of government subsidies and tax credits.

    "This will stop the practice of Washington writing subsidy checks to any and all sectors of the energy industry," Perry said. "And it will also stop industry-specific tax credits, phasing them out over a period of time and allowing the marketplace the time to adjust."

    The assertion, however, could put Perry at odds with members of his own party--even some of the most conservative Republicans in Congress--who support subsidizing pet energy companies. Most recently, Republicans split over a bill that would offer $5 billion in tax credits to the natural gas industry. One strain of the party wanted to encourage American production while the other argued that the subsidy would give natural gas companies an unfair advantage. On Friday, Perry sided with the latter faction.

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  • Losing the wrestling primary: Hulk Hogan tells Fox News he recants former support for Obama

    Hogan (AP)

    Fake wrestling champion Hulk Hogan supported President Obama in 2008, but alas, the honeymoon is over, Hogan said Thursday during a Fox News appearance.

    "I was a big Obama supporter and kinda, like, believed everything he said he was gonna do," Hogan said on Fox and Friends. "But now that nothing's happened..."

    Hogan said he was still sore about the president using his theme song, "I Am a Real American" when Obama addressed the 2011 White House Correspondents' Dinner shortly after he released his long form birth certificate earlier this year.

    "I kinda was a little upset that he didn't ask me permission to use my music," Hogan added. "But the change of heart is that I think I should be president. I know nothing about politics. I think a flat tax across the board would straighten everything out."

    When told that the Hulk's idea sounds something like presidential candidate Herman Cain's "9-9-9 Plan," he responded, "Wow, yeah well he's not a real American like I am. . . . I've been around, people know me, they know everything about me, they know I'm for real, they know I know nothing about politics. I'll just make decisions on what's right or wrong."

    You can watch the video after the jump:

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  • Haley Barbour: Herman Cain would sweep the South

    Haley Barbour, the Mississippi governor who considered a run for president himself in 2012, said on Thursday that Herman Cain would sweep the South if he were the Republican nominee.

    "If this election is where it ought to be, and that is a referendum on how President Obama is doing, Republicans are going to win," Barbour said Thursday on Laura Ingraham's radio show. "If Herman Cain is our nominee against Barack Obama, I think he'll sweep the south."

  • Rich Lowry no fan of Herman Cain’s ’9-9-9 Plan’

    National Review's Rich Lowry (Getty Images)Rich Lowry, a relatively well-known conservative writer and editor of National Review, the conservative movement's flagship magazine, did not write Herman Cain's "9-9-9" economic plan. Rich Lowrie, a little-known Wells Fargo wealth manager in Cleveland, Ohio, did.

    As a result of this little coincidence, Lowry has suffered a few cases of mistaken identity this week.

    Ever since Cain dropped the name of the economic adviser at the presidential debate on Tuesday, Lowry has had to fend off questions about the former Godfather's Pizza CEO's catchy-sounding plan to replace the tax code with a three nine percent taxes on income.

    "There was some confusion on Twitter," Lowry said. "People asking me whether I really wrote the plan."

    It hasn't been that bad so far, he said, but in an attempt to make a joke about it the other night, Lowry accidentally made matters worse.

    "Yes, credit for 999 goes to me," Lowry proclaimed on Twitter. "You're welcome Herman Cain."

    Not everyone got the joke.

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  • SimCain? Herman Cain’s 9-9-9 plan resembles the tax code in SimCity

    Amanda Terkel, a reporter for The Huffington Post, finds that Herman Cain's "9-9-9 Plan" looks a lot like the default tax structure in the computer game SimCity 4. She writes:

    Long before Cain was running for president and getting attention for his 999 plan, the residents of SimCity 4 -- which was released in 2003 -- were living under a system where the default tax rate was 9 percent for commercial taxes, 9 percent for industrial taxes and 9 percent for residential taxes.


    When asked about similarities between Cain's plan and SimCity's default tax rates, Cain campaign spokesman JD Gordon replied, "Well, we all like 9-9-9."

    Cain's plan would replace the entire federal tax code--income taxes, payroll taxes, capital gains taxes, etc.--with three 9 percent taxes on consumption, business income and personal income.

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  • Found at the Occupy DC protest: a stockbroker exam prep test

    Several dozen activists have camped out in a park in Washington, D.C. to show their support for the Occupy Wall Street movement. The Ticket dropped by Thursday afternoon to see how things were going.

    The camp has a soup kitchen with peanut butter and jelly sandwiches available around the clock; a garbage station with cans for compost, waste, and recycling; a meeting space; and even a makeshift community library that contained, well, some unexpected surprises.

    Here's an example of what they had available: Barron's How to Prepare for the Stockbroker Examination.

    Spotted at Occupy K Street protest

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  • Democrats tout strategy to retake House from Republicans in 2012

    Rep. Steve Israel, chairman of the DCCC (AP)After losing more than 60 House seats in 2010, the Democratic Congressional Campaign Committee announced Thursday a list of dozens of candidates lined up to challenge Republicans in November, in the hopes of recapturing the party's lost majority.

    The DCCC, responsible for electing Democrats to the House, has recruited candidates to run in 60 Republican-held districts, the committee said in a release. The party needs a net gain of 25 to regain the majority.

    The Republicans are looking to harness anti-incumbent anger to elect a Republican president, and the Democrats plan to use the same strategy in their effort to regain the Republican-held House. Democrats point to two recent polls that suggest voters may be leaning toward their side when it comes to how they will choose their representatives. A Reuters/Ipsos poll showed that of those polled, 48 percent said they would vote Democratic in the congressional election to 40 percent who said they would vote Republican. An NBC/Wall Street Journal poll released Wednesday showed that Democrats have a slight edge over the Republicans, with 45 percent saying they prefer a Democratic Congress and 41 percent saying they prefer Republican control.

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  • Herman Cain leaps to front of GOP primary pack. Can he stay there?

    Cain and Romney at the Republican debate in Hanover, N.H. (AP)

    Republican presidential candidate Herman Cain is now officially leading the pack, surpassing former Massachusetts Gov. Mitt Romney by three points in an NBC News/Wall Street Journal survey released late Wednesday.

    The survey of Republican voters, conducted between October 6-10 with a margin of error of plus or minus 3.1 percent, shows Cain leading with 27 percent over Romney's 24 percent. Texas Gov. Rick Perry--who led the polls mere weeks ago-- is now in third place, with 16 percent. In the same poll taken in July and August, support for Cain hovered around just 5 percent.

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  • Santorum working to fix his image: ‘I’m not angry’

    Santorum (AP)

    Rick Santorum swears he's not an angry guy.

    The former Pennsylvania senator and Republican presidential candidate has made a name for himself on the campaign trail as the lead attack dog, and while the strategy has given him an opportunity to find his own place in the debates, it's also sparked a widespread perception of Santorum that he says isn't true.

    Santorum's tendency to go on the offensive has earned him a reputation, he acknowledges, for seeming angry, especially on television.

    "I hear this comment from a lot of people: 'You're so different in how you come across on television than you are in person,' " Santorum, a staunch social conservative and one of the lead culture warriors throughout the 1990s, told The Ticket in an interview. "They say I come across as sort of intense, and almost a little angry and edgy."

    "I am intense. I care a lot about these issues," he insisted. "I'm not angry. I'm not angry at anybody. I like everybody. But when you have that intensity, it can come across as edgy, angry and so that's a real part of the process you have to learn. It's not how you feel, it's what people see, and that's an important lesson to learn."

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  • Branding: GOP candidates said the word ‘nine’ 85 times at debate

    At Tuesday's Republican presidential debate, nearly every candidate had something to say about businessman Herman Cain's "9-9-9" economic plan, which would replace the current tax code with three federal 9 percent taxes on consumption, business and income.

    The folks at the liberal blog Think Progress found that the candidates said the word "nine" 85 times over the course of the debate.

    You can watch their 9-9-9 video clip here:


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