(Rick) Perry to pin his hopes on ‘flat tax’

[alp227]

Source: FT

For weeks Rick Perry has drawn criticism for lacking a detailed plan to revive the US economy.

But the Texas governor will try to make up for lost time with a high-stakes fiscal policy proposal that could define – for better or for worse – his campaign to replace Barack Obama in the White House.

At the heart of Mr Perry’s economic platform, which he intends to release this week, is the establishment of a “flat tax” that would radically transform the way the US government raises revenue.

Instead of taxing income at six different rates ranging from 10 to 35 per cent as is currently the case, with wealthier Americans paying higher rates than poorer citizens, the Perry plan would subject nearly everyone’s earnings to a single tax rate.

Read more: http://www.ft.com/cms/s/0/35e9f03e-fd6d-11e0-b6d9-00144feabdc0.html?ftcamp=rss#axzz1be9jS0Dd

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google the title for full article

[Owlet]

1. What a wonderful idea!

I'm amazed that no one has thought of this before. :sarcasm:


http://en.wikipedia.org/wiki/Flat_tax

[HockeyMom]

2. So Warren Buffet's secretary should pay the same rate he does?

Put THAT to the American people and see what their reaction is. This is precisely why the Occupy Wall Street movement has the overwhelming support of the American people.

[customerserviceguy]

3. Cain's lured him into the trap

Like debating one plan that won't be passed over another plan that won't be passed is going to suddenly shift support from Cain to Perry.

At least Cain hasn't been stupid enough to insult his audience by calling them heartless.

[Motown_Johnny]

4. I just hope the (D)s are smart enough to point out that it is Supply Side Economics that has failed

Now even the (R)s are admitting that the system is broken and needs a major overhaul. We just need to point out that this is almost all Reagan/Bush/Bush policies that we are talking about.


We should just go back to what worked, pre-Reagan economic policies.

[jmowreader]

5. Let me guess...ordinary income only, capital gains taxed at 0 percent

and the tax rate is probably 28 percent--the rate at the end of the Reagan Administration that the revisionist teabaggers think was the rate for the whole Reagan presidency.

Which of course would totally fuck the lower classes and make the rich even richer.