Perry's Flat Tax Plan
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Perry's Flat Tax Plan

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    Senior Member Ms Understood's Avatar
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    Default Perry's Flat Tax Plan

    What do you guys think about the plan he released today?



    The plan would allow taxpayers to pay at the current rates or to adopt the flat tax plan. During his speech Perry waved a postcard saying that would be the size of the average American’s tax return as he compared it with a tax code of 72,000 pages. He claimed the plan’s very simplicity would save $483 billion in tax compliance costs.

    “Each individual taxpayer will have a choice,” he said. “You can continue to pay your taxes, as well as the lawyers and accountants, or you can file on a postcard.”

    Perry’s plan also eliminates the death tax and taxes on social security payments, while maintaining deductions for mortgage interest, charitable giving and state and local taxes for families earning less than $500,000. It increases standard deductions to $12,500. It also gets rid of the long-tern capital gains tax.

    It would give corporations a one-off opportunity to repatriate earnings from abroad – which he estimated at $1.4 trillion – with a reduced tax rate of 5.25 percent. He called that, “The kind of economic stimulus that President Obama could have achieved if he wasn’t so hell-bent on passing big government schemes that have failed American worker.”

    Perry said his plan would “shut down the cottage industry of corporate tax evasion,” and offer an incentive for companies to invest once more in America.

    “The flat tax will unleash growth, but growth is not enough,” said Perry in his speech. “We must put a stop to this entitlement culture that risks the financial solvency of this country for future generations.”

    He said every child born in America immediately owes the federal government $46,000.

    In his Wall Street Journal article Perry said, “Fixing America's tax, spending and entitlement cultures will not be easy. But the status quo of byzantine taxes, loose spending and the perpetual delay of entitlement reform is a recipe for disaster.

    “Cut, Balance and Grow strikes a major blow against the Washington-knows-best mindset. It takes money from spendthrift bureaucrats and returns it to families. It puts fewer job-killing regulations on employers and more restrictions on politicians. It gives more freedom to Americans to control their own destiny. And just as importantly, the Cut, Balance and Grow plan paves the way for the job creation, balanced budgets and fiscal responsibility we need to get America working again.”

    Chocola immediately hailed the proposal. “A Flat Tax like the one proposed by Perry would unleash years of economic growth if it is passed into law,” he said.

    “Perry clearly understands that revitalizing the economy should start with a complete overhaul of a tax code that has nearly choked economic growth to death. Conservatives looking for a champion to carry the banner of a pro-growth tax reform will surely rally behind this bold proposal.”

    Norquist tweeted his reaction. “TX Governor Rick Perry’s flat tax alternative is great step forward. Doesn’t create a VAT or sales tax that could grow.”
    In a second tweet, Norquist added, “Perry’s flat tax has the classic lines of a Steve Jobs’ product. Seamless. ….and Steve Forbes likes it. I’ll take two.”

    Forbes – who ran for president on the GOP ticket in 1996 and 2000 with a flat tax as his main platform – is an adviser to Perry and helped draw up the plan. He called it a “win-win all around,” because of its simplicity.

    Forbes said the time has come for a flat tax. “People want it, they hunger for it,” he told Fox News. “You saw the reaction to Herman Cain’s plan, even with the sales tax part of it. Rick Perry does not have a sales tax, which is going to make the plan even more appealing.”

    “It’s going to be very exciting,” he added. “A very low rate, generous exemptions for adults and for children, make it worthwhile to invest in America again, drastically simplifying the tax code, lowering the corporate tax rate.”

    Other Republican strategists were equally enthusiastic about Perry’s plan. “Team Perry is drawing that bright line distinction not only between himself and Romney, but between himself and Cain,” said Ford O’Connell, an adviser to the John McCain/Sarah Palin ticket in 2008.

    This is about winning the anti-Romney voting block and getting them to come together around one candidate

    ^^^^ I don't know if Perry is the one, but we do need to come together around one.

    Read more on Newsmax.com: Perry Flat Tax Plan Wins Conservative Fans



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  3. #2
    gn7
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    It doesn't stand a chance against Assbama's free money for all. Or at least all those that don't work for a living. Which as of today is about 47 million lazy asses. More than enough blind believers of the tooth fairy and Santa Claus to get the fraudulent crooked community organizer re-elected. Its hard to beat a guy that is buying votes with american work force money.



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    Last edited by gn7; 10-26-2011 at 12:44 AM.

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    Senior Member Boss460's Avatar
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    I'm happy happy about more talk about a complete tax code redo.

    But also find it a little telling he does this not long after Cain's ideas launched him to near the top of the polls.

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    Senior Member AzMandella's Avatar
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    I saw last night in a poll that almost 70% polled agreed with a flat tax.
    If you voted for Obama to prove you were not racist, then you better find someone else to vote for to prove your not stupid.

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    Already miss the 310/562 2manymustangs's Avatar
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    I cant say if I believe in a flat tax OR not... But there has to be a better way...
    Pat Eason, the voice of reason...

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    Quote Originally Posted by Boss460 View Post
    I'm happy happy about more talk about a complete tax code redo.

    x2, I'm happy the candidates are putting out plans. It changes the debate.


    But also find it a little telling he does this not long after Cain's ideas launched him to near the top of the polls.
    Yup, Perry is learning to be a candidate.
    Quote Originally Posted by Tom Brown View Post
    I'm still chuckling at being "poo-pooed" for straying off topic. Awesome.

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    Quote Originally Posted by SBjet View Post
    Yup, Perry is learning to be a candidate.
    Are these guys AND their campaign mgrs that thick??? SHould they all know this by now??? And bring a polished act to the table???
    Pat Eason, the voice of reason...

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    Senior Member SBjet's Avatar
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    Good question. I don't think Perry thought more than 6 mos ahead on this. I can live with that. Introducing a plan too early just gives O and MSM more time to pick away at it. I'm glad this will take the Target off Cain's plan for a week.
    It looks like Romney's poll % stays even. The other guys fighting up and down over the rest.
    Quote Originally Posted by Tom Brown View Post
    I'm still chuckling at being "poo-pooed" for straying off topic. Awesome.

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    Senior Member Not So Fast's Avatar
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    It dont matter to me, he lost all cred when he stated his feelings about " ILLEGALS" in this country! Thats it, game over!!!!!!!!!!!!!!!!
    Gimme Newt all the way, too bad he wont be the one
    NSF
    CHARGERS ROCK !!!!

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    Senior Member Ms Understood's Avatar
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    Quote Originally Posted by gn7 View Post
    It doesn't stand a chance against Assbama's free money for all. Or at least all those that don't work for a living. Which as of today is about 47 million lazy asses. More than enough blind believers of the tooth fairy and Santa Claus to get the fraudulent crooked community organizer re-elected. Its hard to beat a guy that is buying votes with american work force money.
    I don't know how he gets votes based on the coolness factor but he did get a huge chunk of the under 30 crowd vote. Pundits say that he's lost a lot of those voters, I'd think job creation has to be on the top of the list for that segment of voters. I am not feeling all warm and fuzzy about the future of America when you see the scales tilting so much. The right lacks the coolness factor. Maybe the voters would be more interested to see a canidate shoot some hoops and throw down some beers while toking to Marley? Funny, come to think of it, all the ball players , actors, musicians, socialites, ( most of them are total capitalist...they all have a clothing line, perfume, cologne, sneaker, etc....why isn't the OWS mad at their salaries and capitalistic endeavors? WTH
    Quote Originally Posted by Boss460 View Post
    I'm happy happy about more talk about a complete tax code redo.

    But also find it a little telling he does this not long after Cain's ideas launched him to near the top of the polls.
    The tax code discussion is a definite plus. Perry is either stupid, or just holding back based off of the debates I have watched. I am going with the latter.
    The NYT's all ready reporting that Perry's plan is a tax cut for the rich, yada, yada, yada....it won't be good for the economy, yada, yada, yada. The plan he put out is more detailed than Cain's at this point. I ma not suggesting it's better, just not as vague imo.
    Quote Originally Posted by AzMandella View Post
    I saw last night in a poll that almost 70% polled agreed with a flat tax.
    That's pretty strong.

    Quote Originally Posted by 2manymustangs View Post
    I cant say if I believe in a flat tax OR not... But there has to be a better way...
    What don't you like about it?

    Quote Originally Posted by SBjet View Post
    Good question. I don't think Perry thought more than 6 mos ahead on this. I can live with that. Introducing a plan too early just gives O and MSM more time to pick away at it. I'm glad this will take the Target off Cain's plan for a week.
    It looks like Romney's poll % stays even. The other guys fighting up and down over the rest.
    Cain is way ahead of the others besides Romney in the polls I have seen.

    Quote Originally Posted by Not So Fast View Post
    It dont matter to me, he lost all cred when he stated his feelings about " ILLEGALS" in this country! Thats it, game over!!!!!!!!!!!!!!!!
    Gimme Newt all the way, too bad he wont be the one
    NSF
    The canidates I like best don't seem to stand a chance. I watched Santorum at a townhall meeting discussing bringing back manufacturing. I think that's another big issue along with the jobs it would create. I like the guy......They all have positives and negatives.
    I agree with you on Perry and the dream act. I am also annoyed with how Perry and Romney have been so childish in the debates.
    At the end of the day, ABO, but again, I would like to see a conservative, energetic canidate that could capture the young, old and in between vote with a commanding personality. Someone who says what he means, and means what he says.



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  12. #11
    Purple headed member Quickjet's Avatar
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    Quote Originally Posted by Not So Fast View Post
    Gimme Newt all the way, too bad he wont be the one
    NSF
    Well that's because he's a lying, cheating asshole with no character......
    Quote Originally Posted by thatguy View Post
    I used to believe QJ was a gay black man..

    Quote Originally Posted by Havasu Secret View Post
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    Purple headed member Quickjet's Avatar
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    Quote Originally Posted by Ms Understood View Post
    I would like to see a conservative, energetic canidate that could capture the young, old and in between vote with a commanding personality. Someone who says what he means, and means what he says.
    Too bad no one with those qualities/charcteristics is on the stage...
    Quote Originally Posted by thatguy View Post
    I used to believe QJ was a gay black man..

    Quote Originally Posted by Havasu Secret View Post
    Keith...
    Real Fast Big Blocks are always V-Drives

  14. #13
    gn7
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    Quote Originally Posted by Quickjet View Post
    Well that's because he's a lying, cheating asshole with no character......
    I'll still take him over the lying fruadulent foreigner currently in the WH



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  15. #14
    Purple headed member Quickjet's Avatar
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    Quote Originally Posted by gn7 View Post
    I'll still take him over the lying fruadulent foreigner currently in the WH
    I bet you would. Trust me, if it's anyone that doesn't require good Character in a candidate it would be you. No surprise there.
    Quote Originally Posted by thatguy View Post
    I used to believe QJ was a gay black man..

    Quote Originally Posted by Havasu Secret View Post
    Keith...
    Real Fast Big Blocks are always V-Drives

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