Posted on 10/26/2011 6:08:48 PM PDT by Fred
Seeking to jump start his flagging presidential campaign and establish his pro-growth and fiscal responsibility credentials, Governor Rick Perry is unveiling a tax plan that will not jump start the economy and is fiscally irresponsible.
In a nutshell, Mr. Perry would give taxpayers a choice between filing under the current income tax system—with all its flaws—and an alternative flat tax 20 percent system. Under the latter, families could maintain their mortgage deductions if they earn less than $500,000, which is about 99 percent of taxpayers, and could declare exemptions of $12,500 for each family member.
It seems appealing—a simplified tax system, fewer IRS agents, and so forth. But the plan falls short in two important respects—it won’t encourage many better investment decisions and foster growth, and it will spin the federal deficit permanently into the stratosphere.
The whole purpose of a flat tax is to encourage individuals and corporations to invest more in sound business opportunities, instead of prospecting for tax breaks by buying homes bigger than they need or spending on government hobby horse projects like solar panels. By giving tax payers the option of filing
(Excerpt) Read more at foxnews.com ...
So are you for 9 9 9 or VAT?
What about the Empowerment Zones in 9 9 9 that possibly result in 0 0 0?
I don't like having food and medicines taxed--9 9 9. They wouldn't have to raise the 9%...all they have to do is cause higher inflation and the taxes go up!
I admit I know little about taxes except it's a mess!
Look Perry is done for face it. Go suck up to Myth for a job before it is too late.
Perry needs to hire people that can at the very least understand his tax plan...
Because you do not know who Morici is meaningless.
Respond to his objections, prove him wrong.
Rick Perry would be a disaster for America. That is what the true title SHOULD say.
>> Look Perry is done for face it. Go suck up to Myth for a job before it is too late. Perry needs to hire people that can at the very least understand his tax plan... Because you do not know who Morici is meaningless. Respond to his objections, prove him wrong.>>
You have a crazy imagination about what posters’ agendas are - all in your mind. Perry is not my first choice and certainly not “myth” - so you are oh for two in thinking you know what drives me.
What drives me are ideas, and both 999 and Perry’s flat tax are ideas that are FAR SUPERIOR to the tax plan we live under now, and as such, I think they are worth discussion. Discussion does not include out of touch academics who make faulty assumptions. Frankly, I don’t like the “optional” nature of Perry’s plan, but it would not be “a disaster” as the author says.
What we have now is a friggin disaster.
Wouldn't mind seeing that headline once in awhile.
Given the useless American electorate, Perry’s plan is about the best we can do. Cain’s plan will either be jettisoned or he will sink his campaign (which would be a shame).
An NRST with NO prebate would be the cleanest solution, but that isn’t in the cards.
Perry’s plan boils down to this. “If you like the current tax system, you can keep it. If you believe you will pay less with my system you can go with that.” Sounds like obamacare to me!!!! Hey, I have an idea: Why not just let people pay whatever they want! OMG has everyone lost their minds in this country?
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