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Rick Perry's Support for a Flat Tax Cheers Steve Forbes (Forbes, Gramm advising Perry)
WSJ ^ | Oct 19, 2011 | John D. McKinnon

Posted on 10/19/2011 7:22:00 PM PDT by Clairity

Rick Perry's embrace of a flat tax makes the tough-talking Texas governor the unlikely political heir to Steve Forbes, the nerdy publisher and erstwhile presidential candidate.

Mr. Forbes, who ran in 1996 and 2000 and now is advising the Perry camp, said that the "concept remains the same" as his own flat tax plan from the 1990s.

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Business/Economy; Extended News; Politics/Elections
KEYWORDS: flattax; forbes; heartless; perry; perryastroturfing; perrybot; taxes
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To: CSI007
You're just a damnable troll with no shame of your own.

Before Perry was even a candidate he was an "all of the above" energy policy candidate and he supported the flat tax in his "Fed Up!" book.

81 posted on 10/20/2011 12:46:00 AM PDT by newzjunkey (Obama will be a two-term president.)
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To: Clairity

Bump!


82 posted on 10/20/2011 12:53:01 AM PDT by Cincinatus' Wife
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To: bwc2221
You lie.

You don't fly Jet Fighters or become c-130 pilots for the USAF if you have a low IQ or are incapable of performing complex tasks.

But liars like yourself who dream up slanderous remarks, display their lack of class and intelligence for all to see before the thousands who read these threads daily.

83 posted on 10/20/2011 1:07:06 AM PDT by PSYCHO-FREEP (If you come to a fork in the road, take it........)
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To: normy; All
He now is dropping the tax for the “economically disadvantaged” which kills Cain and his plans appeal.

I'm quite puzzled by this claim. Empowerment zones have been part of 9-9-9 since day one.

Further, in the official scoring analysis, the 9% rates themselves assume some offset for those at or below the poverty line otherwise the rates could be as low as 7%.

84 posted on 10/20/2011 1:21:15 AM PDT by newzjunkey (Obama will be a two-term president.)
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To: newzjunkey
 

http://online.wsj.com/article/SB10001424052702304198004575172190620528592.html

 

 

Europe’s VAT Lessons
Rates start low and increase, while income tax rates stay high.

One trait of European VATs is that while their rates often start low, they rarely stay that way. Of the 10 major OECD nations with VATs or national sales taxes, only Canada has lowered its rate. Denmark has gone to 25% from 9%, Germany to 19% from 10%, and Italy to 20% from 12%. The nonpartisan Tax Foundation recently calculated that to balance the U.S. federal budget with a VAT would require a rate of at least 18%.

VATs were sold in Europe as a way to tax consumption, which in principle does less economic harm than taxing income, savings or investment. This sounds good, but in practice the VAT has rarely replaced the income tax, or even resulted in a lower income-tax rate. The top individual income tax rate remains very high in Europe despite the VAT, with an average on the continent of about 46%.

As Americans rush to complete their annual tax returns today, there is still some consolation in knowing that it could be worse: Like Europeans, we could pay both income taxes and a value-added tax, or VAT. And maybe we soon will. Paul Volcker, Nancy Pelosi, John Podesta and other allies of the Obama Administration have already floated the idea of an American VAT, so we thought you might like to know how it has worked in Europe.

A VAT is essentially a national sales tax that is assessed at each stage of production, with the bill passed along to consumers at the cash register. In Europe the average rate is a little under 20%. In the U.S., a federal VAT would presumably be levied on top of state and local sales taxes that range as high as 10%. Some nations also exempt food, medicine and certain other goods from the tax.

In the U.S., VAT proponents aren’t calling for a repeal of the 16th Amendment that allowed the income tax?and, in fact, they want income tax rates to rise. The White House has promised to let the top individual rate increase in January to 39.6% from 35% as the Bush tax cuts expire, while the dividend rate will go to 39.6% from 15% and the capital gains rate to 20% next year and 23.8% in 2013 under the health bill, from 15% today. Even with these higher rates, or because of them, revenues won’t come close to paying for the Obama Administration’s new spending?which is why it is also eyeing a VAT.

 

85 posted on 10/20/2011 2:20:40 AM PDT by dennisw (What good is a used up world and how could it be worth having - - Sting)
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To: Clairity

Can you picture Perry debating Obama?

Me either !


86 posted on 10/20/2011 4:49:11 AM PDT by Reagan69 (I supported Sarah Palin and all I got was a lousy DVD !)
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To: SaraJohnson

Excellent points.


87 posted on 10/20/2011 5:31:13 AM PDT by jgge
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To: LibertarianInExile
Graham was a horrid horrid candidate, I honest to god don't remember the details on what differences there were between him and Forbes on their flat tax proposals, but I remember watching the two of them, engage/attack/demonize each others plans.

FWIW, I'm not sure if there was even any kind of significant difference (I think Graham kept more deductions).

88 posted on 10/20/2011 6:03:54 AM PDT by Sonny M ("oderint dum metuant")
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To: af_vet_rr

Could Perry explain his economic plans in 1 minute? Why the need to roll it out during a debate with 1 minute rules? Makes no sense. Put it out there where you can deliver a thorough speech, let the media print it and have voters examine it. Then, open it up for discussion in the debates with talking points and defend it. Makes better sense.


89 posted on 10/20/2011 8:45:15 AM PDT by mikhailovich
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To: altura

lol fuzzy math:)


90 posted on 10/20/2011 10:21:11 AM PDT by katiedidit1
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To: mikhailovich
Could Perry explain his economic plans in 1 minute? Why the need to roll it out during a debate with 1 minute rules? Makes no sense. Put it out there where you can deliver a thorough speech, let the media print it and have voters examine it. Then, open it up for discussion in the debates with talking points and defend it. Makes better sense.

I'm not saying that at all. I'm saying he should have already had them out there before the last few debates. His refusal to release them until after the last two debates is just him not wanting them to be raised in the debates. He goes after other candidates on their plans, but refused to have his own plan available for them to criticize. It's sleazy.

I won't even go into how he's ripping off everybody else, almost as if he waits to see how their plans are received or discussed during the debates before releasing his own. Even his "discuss defunding the UN" idea was borrowed directly from Ron Paul.
91 posted on 10/20/2011 2:55:29 PM PDT by af_vet_rr
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To: af_vet_rr
You're going to find fault with whatever Perry does because your mind is made up that you don't like him.

Your argument is one way of interpreting things. I could suggest to you that Perry was the absolute LAST candidate to decide to run and get into the race. He was/is also an acting governor. The other candidates had many more months (or years) to implement a jobs plan, a tax plan, and so on.

I could also argue that his plan(s) WILL be available for debate, in the upcoming debates. Do you recall Huntsman was asked for his jobs outline during a debate and he explained that it wasn't completed yet? He came out with one later.

Cain and Romney have had the luxury in retirement to plan and develop ideas from the peace of their living rooms and a nice Cuban cigar.

Perry's energy plan came out between the previous debate and the debate this week. I could argue that rolling out a plan DURING a debate could give a candidate more shelter because nobody has had a chance to review it and attack it.

Come on, man!

92 posted on 10/20/2011 3:11:50 PM PDT by mikhailovich
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To: mikhailovich
You're going to find fault with whatever Perry does because your mind is made up that you don't like him.

I have very good reason to, but you know what? There is a group of Perry supporters here who are astroturfing like mad for Perry, posting as many pro-Perry and anti-everybody else threads as they can. If they are going to keep up this campaign to whitewash Perry and to try and downplay other candidates, then it's our duty to respond in kind.

Your argument is one way of interpreting things. I could suggest to you that Perry was the absolute LAST candidate to decide to run and get into the race. He was/is also an acting governor. The other candidates had many more months (or years) to implement a jobs plan, a tax plan, and so on.

I could argue that as Governor for 10 years, he's thought a lot about these things. As for him being the last candidate, it was obvious well before he formally entered that he was going to run. He had a group assembled, and they were holding meetings. A lot of these people were people from his 2010 campaign.

Cain and Romney have had the luxury in retirement to plan and develop ideas from the peace of their living rooms and a nice Cuban cigar.

You do realize that Perry campaigned quite a bit for much of 2010, right? The election was less than a year ago. And some of those same people are running his campaign this year. Last year he spoke plenty about jobs and energy, among other things.
93 posted on 10/20/2011 3:24:12 PM PDT by af_vet_rr
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