Even with a republican congress, how long, realistically, would it take for either tax plan to get implemented and have an actual impact on the economy?
9-9-9 will never pass through any Congress because of the National Sales Tax. The Perry plan would take 6 months to iron out and get to a vote UNLESS there is seriously work done between election and inauguration.
If it looked like in all liklihood it would pass the market would react, positively, before it was actually enacted and in play.
No president can wave a magic wand and change the tax code. All tax laws must originate in the House of Representatives House Ways and Means Committee. The tax law then must pass both houses of congress and go to the president for signature. This is in the constitution. The president can request and sign legislation, but he cannot ram it through.
“Even with a republican congress, how long, realistically, would it take for either tax plan to get implemented and have an actual impact on the economy?”
No president can wave a magic wand and change the tax code. All tax laws must originate in the House of Representatives House Ways and Means Commitee. The tax law then must pass both houses of congress and go to the president for signature. This is in the constitution. The president can request and sign legislation, but he cannot ram it through.
Putin’s Russia has a Flat Tax—15% It seems to be working as long as everyone pays the tax. For most it would be a break. If it will start up jobs—I am for it. BUT we must do a few things.
1. Close the border with Mexico and bear out the gangs.
(Perry will not do this)
2. Drive out or toss out the illegals.
(Perry will not do this )
3. Put up tariffs on cheaply made goods coming to the US.
(None of the GOP will do this)
4. Cut the budget down to a nibim. (Like 2002 budget)
(Lots of talk but can it be done?)
5. Pull troops out of the world wars we have going on.
(Only Ron Paul talks about this)
I don’t see this Perry Bounce lasting—I still think Newt or Mitt R. is going to make it.
It WOULDN’T get implemented. These are essentially position papers, the way the candidate would like to do things if it were entirely up to him. But it is NOT entirely up to him, and I believe that there are two chances of getting a flat tax through at this time: slim and none.