For a good laugh: Read Rick Perry’s 2014 proposed EZR tax post card

[flpoljunkie]

Perry not only does not count dividends and capital gains toward income, he subtracts them! And spells taxable 'income' with two c's!

Link: http://www.scribd.com/doc/70263818/Rick-Perry-s-tax-form

Tweet's right today. This man is not a serious candidate. He's a 'clown.'

http://www.thestate.com/2011/10/25/2022576/perry-unveils-20-percent-flat.html

[ellenfl]

1. don't you mean two c's? eom

[flpoljunkie]

2. Yes.

Thanks! :)

[customerserviceguy]

3. Well, subtracting dividends and capital gains

from a "total" income figure would produce the desired result. However, Perry's flat tax scheme would simply not require the payors of capital gains and dividends to report them as income.

What's ludicrous is that this form includes stuff about filing statutes, such as single, married, head of household, etc. What difference would any of those things mean if there is one tax bracket, and no standard deduction (only a personal exemption)? Also, I don't see a place to put tax withholdings from a paycheck or estimated tax payments, maybe he's going to do away with that?

I realize this is a gimmick for his speech today, but at least try to find someone from H&R Block to assist you with making the gimmick look slightly logical!

[flpoljunkie]

5. Of course, but Perry's card doesn't say 'Total Income'-just one line for 'Your 2014 Income."

I agree with the other points you made. Perry's tax post card is a desperate gimmick to outdo Herman Cain to try and be the Anti-Romney. Of course, Perry's got a lot of money to run negative ads against Romney-including $55 million in a SuperPac.

It's going to get very nasty very soon. Perry has never lost, and he does not intend to lose to Mitt Romney.

[customerserviceguy]

6. He's going to beat the hell out of Romney

at least with negative advertising, while still looking like Yosemite Sam on crack.

[flpoljunkie]

7. Nice visual!

[high density]

4. subtract dividends and capital gains?

So we are now interested in lowering Warren Buffet's income taxes to zero?

[flpoljunkie]

8. Altho his card would indicate that, surely unearned income would be included in 'Your 2014 Income'--

Perry's post card was obviously a rush job, though it does make one wonder who his economic advisers are.

[flpoljunkie]

9. Perry's plan would also be incredible windfall for the richest 400 taxpayers.

“The wealthy will end up benefitting from a very simple tax code, and they’re going to end up paying really low rates,” Linden said. “Of the richest 400 taxpayers, fully 66 percent of their total adjusted gross income came from capital gains and another seven percent came from dividends. So basically for the very wealthy you’re going to save nearly 75 percent of income from taxation. It’s just a massive tax cut for very wealthy.”

http://tpmdc.talkingpointsmemo.com/2011/10/rick-perrys-flat-tax-plan-not-a-flat-tax.php?ref=fpa