Rick Perry proposes “voluntary” 20 percent flat tax – you can keep your tax rate if you like it

rick-perry-dumbFor all the criticism that Herman Cain has been getting for his 9-9-9 tax plan, Rick Perry’s “voluntary” 20 percent flat tax sounds even dumber. It’s almost like Obama’s claim on ObamaCARE where “you could keep your doctor if you like him/her.” In Rick Perry’s case, I guess it’s you can keep your tax rate if you like it. This so called flat tax would obviously leave the current tax code on the books for people who “want to keep their rate” and does nothing about about eliminating the code or the IRS. Not everything in Perry’s plan is dumb though. Part of the plan calls for capping federal spending at 18 percent of GDP. Also according to CBS, “younger” wage earners can privatize their Social Security accounts. The corporate tax rate would also only go down to 20%. When Steve Forbes ran on his flat tax plan, the rate was 17% of personal income. 20% is way to high. Should have been at most 15%.

“Cut, Balance and Grow strikes a major blow against the Washington-knows-best mindset,” Perry said. “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.”

Eh, I guess it’s still better than Romney, right?

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October 24, 2011 · Filed Under Rick Perry


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