Posted on 10/20/2011 7:04:50 PM PDT by smoothsailing
October 20, 2011
Steve Forbes, whose flat tax plan helped make him an unlikely contender for the Republican presidential nomination 15 years ago, is praising a new version of the idea from Rick Perry. And Forbes, who says he helped devise Perry's plan, left little doubt that he'll formally back the Texas governor before long.
In an interview with Yahoo News, Forbes called Perry's proposal, announced in a speech Wednesday, "the most exciting tax plan since Reagan's," in 1980.
Asked whether that included his own 1996 plan, Forbes said it did, because unlike him in 1996, when he fell short of upsetting front-runner Bob Dole, Perry "is going to win."
Forbes, the chief executive of his family's eponymous publishing empire, said the Perry camp reached out to him for help in crafting their plan. "We got into discussions of basic principles--how the thing might be shaped," he said. "The candidate concluded it ought be a simple rate. Make it as simple and bold as possible."
snip
Forbes hasn't officially said that he's backing any candidate, but he left little doubt that he'll formally get behind Perry soon. He said he would announce his support for one candidate soon, "and I don't think it'll surprise anyone."......
(Excerpt) Read more at news.yahoo.com ...
I didn’t hear Perry gave a speech until I just read your post — lol
BTW, has Perry been doing any talk radio or TV?
You really can’t hone your skills and ideas without doing a lot of talk radio interviews.
Spot on.
And I love the “gastric bypass” image. So graphic. So true.
I am assuming that all income is taxed, from the first dollar, and I have seen nothing about SS benefits being excluded.
"Morris argues that because manufacturers will have much lower taxes, the market will force them pass the savings onto consumers "
Right. I will believe that when I see it. It really might happen, but I don't count on that.
As they say: “Think before you run.”
Well, a lot of people are (taking Cain seriously).
I am of the opinion that Newt is still viable, despite the FR consensus.
You just said what I’ve been trying to on this thread. Thanks.
Also plans can be modified. If there is truly something we all want in Perry’s plan, there’s no reason at all another candidate can’t run with it.
I mean: Gingrich already has a flat tax plan on the table, just no one has talked about it. So Perry is johnny-come-lately on this behind Cain and Gingrich. That’s okay, but just nobody complain if these ideas get passed around and reappear in various iterations in other candidate’s platforms.
It’s not like Rick Perry invented the flat tax and he’s the only one allowed to try to get it through Congress, therefore he must be elected POTUS if we want a flat tax.
Herman Cain has the longest, most accessible record of just about anyone who’s run for president in recent memory.
He’s written a weekly column for at least a decade, detailing his views on issues of the day. And he’s remarkably consistent.
So if you would like to know how he would govern, you just need to get to know who he is, how he analyzes things and the types of action he proposes. There is article after article by him in the internet archives. Enjoy!
Everyone’s reaction to a debate is, in the end, rather inexplicable. And reactions are all over the map.
It’s the trend that matters, and the trend is not favoring Perry or Romney right now. (The latter because he’s been unable to make gains and hold them.)
I just heard Frank Luntz on Hannity today (the radio show) and he said everyone in the focus group absolutely 100% HATED that moment in the debate and it turned them against Perry a lot.
Luntz said he also ran into Perry at the airport or something and he tried to talk to him about how the focus group reacted, looking maybe to give him a little free advice. He said Perry wasn’t receptive AT ALL.
Didn’t sound good to me.
I love that quote.
Retired people who are living off savings are likely paying taxes on those savings (capital gains, tax on dividends and income, such as from money market accounts). All those tax would go away. So they would have more money on that account.
Also some (many?) people on Soc Sec DO pay tax on it. That would go away or be a much lower rate.
It’s not clear yet that food and medicines would not be exempted from the NRST. But it’s very likely that the cost of consumer goods, including food, will go down. Right now each purchase you make has about 20% embedded federal taxes in the price. Those are eliminated and replaced with a 9% sales tax, which you can see is more favorable.
Besides eliminating the embedded taxes (by eliminating the present tax code), there will be downward pressure on prices because of the lower taxes on business. And right now many businesses desperately need to juice sales, but they don’t have the profit margins to do so. Once they can cut costs through lower taxes, it’s very likely many of them will use at least some of their cost savings to drive sales.
Did you use one of the 999 calculators floating around? If you just made calculations based on how things are now, you likely did not take into account all the ways 999 will change economic dynamics. It’s not just 9% “on top of” today’s staus quo.
“I don’t see how proposing a plan makes the proposer the best one, much less the only one who can get it implemented.”
It just inclines me. Anyone COULD propose it; it has been around for decades. But Perry is (so far) the one who IS proposing it, and that gets interest from me.
Palin told Hannity tonight she couldn’t wait for this to be revealed; so much... she went and got a book out of a box.
I hope Perry surpasses ObamneyCare in the polls.
People who have income from savings or a pension (or earned income from a job) have to pay income taxes on up to 85% of their social security benefit.
This provision has kept many people from working (when there used to be jobs).
Retired people in this situation could be helped greatly by Cain's 999 plan.
Anyone on a fixed income is going to be “hurt” by any type of price or tax increase. That IS going to happen regardless of whether 999 is implemented.
The advantage of 999, however, is that is brings a lot more political accountability into the system and it puts downward pressure on prices.
Moreover, as you point out, it is even more important to maintaining our freedom beyond any economic prosperity it may bring.
It’s like chemotherapy: we can sit around and analyze the side effects forever, but at some point we need to remember to look up and realize “BUT IT SAVES THE PATIENT!”
Also, really, it doesn’t take a unique mind to figure out that drilling here and now would be excellent for the economy and for national security.
IOW, it’s a good idea. That is all!
I can see that.
Just don’t want it to seem like a good idea will die with him is he dies (politically).
The good idea is still viable.
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