[casinva]

What did Rush Limbaugh have to say about Rick Perry's "Cut, Balance, and Grow" Plan?

He said: "Rick Perry announced his tax plan today, which I'll go on record as saying I, El Rushbo, think is great. It's fabulous. I like it. And the left is coming unhinged."

See what else Rush had to said here.

[casinva]

Ping please.

[Grunthor]

“Rush Limbaurgh”

Who? What is up with you today, lol?

[Outlaw Woman]

Rush also stood by Perry’s conservative credentials. LOUD & CLEAR.

[Average Al]

It strikes me that Rush spends a disproportionate amount of time ranting about tax policy that affects him personally more than his average listener. (I wish I had his problem.)

[oldbill]

A flat tax is the proper and fair way to tax. But neither Perry’s nor Cain’s are a true flat tax, and Rush is wrong, because all of these first but weak attempts at a flat tax are flawed. Perry’s plan has a dozen loopholes for the rich and clever to avoid paying taxes.

A flat tax has to be on ALL income, not just wages. Income is income is income.

The wealthy don’t give a damn about the tax rate on wages - they don’t get wages. They get their income hidden in other ways, like capital gains, dividends, stock options, roll backs into the companies they own, benefits like company cars and insurance that you would pay for but they get gratis.

The only fair way is a flat tax on all income. Whatever you get between Jan 1 and Dec 31 is income - wages, gifts, stock options, dividends, capital gains - it’s income. You pay a flat rate on that. No deductions. None.

You exempt some amount of income, like the first $20,000, and pay tax on everything else. That gives the legitimate poor a break for basic essentials. That exemption defeats the flat tax being a regressive tax argument of the liberals.

The rich would thus pay a lot more taxes and wouldn’t have a place to hide income like they do now. The poor would pay the flat tax on any income above $20,000 - for example, on an income of $30,000 and a flat tax of 15%, they would pay $1500 tax on a total income of $30,000.

The rich guy getting an income of $1,020,000 would pay $150,000 in taxes - 100 times what that poor guy pays. How can the democrats complain about that? And Warren Buffet would be paying a lot more taxes than his secretary.

And if corporations by law are entities to be treated as persons, then they too have to be subject to the same flat tax. Otherwise the corporation becomes one more place to hide income.

Of course, the IRS, tax lawyers, lobbyists, and accountants would be out of a job, but they are all parasite occupations that don’t create a damn thing anyway.

A true flat tax would be a three line IRS 1040:
1: Enter last years total income from all source:s _____
2: Enter the greater of $20,000 or $10,000 times each dependent: ______
3: Take 15% of (Line 1 minus Line 2) and enter here: ________ This is your tax.

[Chasaway]

Rush may not have been actually “pimping” Governor Perry’s plan today, but he was really positive about it.

And he took some time to play some clips from an interview with Governor Perry about it.

It’d be hard to listen to those clips and not come away with the idea that Governor Perry is stoutly conservative.

One of my favorite responses of his was when the interviewer questioned him about the possibility of “wealthy” people may come away better off under his plan.

Governor Perry’s response was [something like], “I don’t care about that. I care that the money that creates jobs comes back into our economy”.

Well...call me a damned capitalist, but that’s what I want too! I don’t care if wealthy people pay more; I care that our job market/economy gets better.

One of the things it seems like a lot of people miss is that the driver of our economy is largely the spending of the regular consumer. If they don’t have jobs or are uncomfortable about the future, they don’t spend.

If things are rocking along, they spend. Then the economy rocks.

Governor Perry understands that. It’s the jobs first. Then the economy will be alright.

Thanks for the post.

[9YearLurker]

I wonder how many millions it will save El Rushbo himself every year.

[wolfcreek]

Hummm, wonder if Rush might put his legions behind Perry?

[DJ MacWoW]

Not Supporting FR?

Click The Marxist To Donate

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

~ Senator Barack H. Obama, March 2006

[TomGuy]

Mark Levin is lauding Perry’s tax plan on his radio program, too.

[fightinJAG]

What we're talking about here is a return to sanity. Herman Cain's plan does it. Perry's plan at least gets us talking about it

Bears repeating.