Posted on 10/19/2011 11:05:30 AM PDT by Cincinatus' Wife
Las Vegas - In a brief speech this morning at the Western Republican Conference, Texas governor Rick Perry announced that in six days he would reveal an “economic pro-growth package that will create growth” and encourage investment in America. The plan will involve major tax reform, entitlement reform, a balanced budget amendment to the Constitution, an abolishment of earmarks, and a recommitment to energy exploration in the United States.
“Our long term growth requires a fundamental tax reform,” Perry said. Therefore, his plan “starts with scrapping the three million words of the current tax code—starting over with something simple: a flat tax.”
“I want to make the tax code so simple that even Timothy Geithner can file his taxes on time,” the Texas governor said, taking a jab at the treasury secretary who had major errors in his tax returns that were revealed after he was nominated by President Barack Obama for his present job.
“The second part of my plan involves the serious commitment to spending, realizing alternatives” to the path taken by Europe, Perry said. In this vein, the Texas governor went on to affirm his commitment to “reforming entitlements, preserving those commitments to those who are on Social Security … and those approaching the age of retirement.”
Perry did not give further details on what the new flat tax rate would be (or how it might work) or on how he would reform entitlements.
On the balanced budget amendment, Perry committed to campaigning in all fifty states, if necessary, in order to get the provision added to the Constitution.
And he promised to end earmarks: “My plan is to end earmarks for good.”
In revealing tidbits of his economic plan, Perry played up his anti-establishment credentials.
I wish I could stay away a month and see what happens.
I think you are right.
Perry is the conservative who has the money and the organization.
Romney is the moderate/liberal who has money and organization.
Cain has a lot of bandwagon fans who’ve become oddly obsessed with him but no money and no organization and he seems strangely uninterested in creating an organization although I understand he’s launched an e-mail plea for money.
Explaining this to ‘them’ has proven fruitless. they are so obsessed with this that they do not listen.
Correct, completely different.
The 9-9-9 plan moves part of the tax burden onto the sale of goods by foreign businesses and would dramatically re-orient the incentives in our economy back in favor of capital-intensive domestic manufacturing jobs and in favor of saving and investment.
The flat tax retains the structure of our failed tax code but moves to a single rate (or two or three rates) and eliminates deductions and credits. (However, don't be surprised if Perry's plan even retains things like the home mortgage deduction.)
The 9-9-9 plan would do something real to fix the deep structural problems in the US economy.
Retaining the current code and merely eliminating the tax tables in favor of a flat rate and eliminating some deductions, by comparison is merely rearranging deck chairs on the Titanic.
There is a month before the next debate, so you might be able to “stay away” in some respects for that long.
Since you’re talking about his plan - this is nothing other than curiosity - I noticed that twice last night Herman Cain said “My” and then quickly said “Our” Plan. What’s up with that?
I have trouble allowing someone getting by with lies. That is the way Democrats work. Repeat a lie often enough and it becomes accepted as the truth.
Are you familiar with the arguments put forth by Neil Boortz?
The GOP sucks! They can stick their little snide comments and attacks where the sun doesn’t shine.
Yes, but I don’t think it would be possible for the US to move to the fair tax without an interim step such as 9-9-9.
Once people see manufacturing businesses again being viable in the US and the reversal of our massive trade deficit which has been bleeding away hundreds of billions a year of our national wealth, then they may be ready to move fully toward the fair tax.
I keep reading snippets about Herman’s 9-9-9 plan but so far I haven’t seen a thread at FR discussing the vagaries and details.
Flat tax does not eliminate IRS or millions of nonproductive related jobs (neither does 999 in its first phase) Fair tax does.
Flat tax (don't know about Perry's plan yet) has a threshold -exemption which means some people will still pay nothing.
Fair tax also has similar rebate. 999 doesn't as far as I can see.
Flat tax does not collect taxes from the underground economy illegal aliens crooks etc. Fair Tax does. 999 catches a part of these current non-payers with the sales tax portion.
I like any of the above over the current crap with one caveat 999 hits labor intensive businesses too hard as it is.
I prefer the fair tax as being the best in making more people pay some tax and eliminating IRS and its corresponding private sector jobs.
ITS Fantastic that the debates are shifting to how we collect money and making it more visible to taxpayers.
baloney like this below is not only offensive it is unconscionable: Illegal Aliens Get Billions in Tax Credits from IRS. We should take this money and deduct it from Congress's salary and expenses for being incompetent and wasting our tax doollars.
Perrys, tax plan, oh, sounds good, where is the link. You can probably get an Oliver typewriter off of ebay, so you can do the normal, bogus long time position stuff.
Who do you like as the best explain-er?
I noticed that twice last night Herman Cain said “My” and then quickly said “Our” Plan. What’s up with that?
He didnt want to sound like Obama- IIIIIIIIIIIIIIIIMYMYMYMYMYMYMYMY
oops! Hope you have asbestos suit handy ...
Welcome to conservatism, Governor Perry. It's nice to finally have you on board.
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