Wells Fargo’s Financial Advisor’s Managing Director of Wealth Management, Rich Lowrie of Pepper Pike, Ohio, helped craft GOP Presidential candidate, Herman Cain’s tax proposal.
Lowrie, who heard Cain speak while attending an organizational gathering of the Club for Growth in 2004, says that at that time he thought “this guy gets it and if he has half the impact on the American people as he has on me, he will be a force to be reckoned with.”
Lowrie believes a PHD in Economics is not necessary to understand simple economic truths and that most American people understand a lot better than Washington gives them credit for.
Lowrie told OnWallStreet, in an interactive slideshow, that he and Cain began discussing how to overhaul the tax code earlier this year. Working on Cain’s premise to tax everything once and nothing twice, they agreed on three principals:
- Production drives the economy, not spending
- Risk-taking drives growth
- The dollar must hold its value
All common sense and easily understood, and at least someone has a plan!