[Cincinatus' Wife]

"GRAY COURT, S.C. – Gov. Rick Perry of Texas unveiled a plan Tuesday to scrap the graduated income tax and replace it with a 20 percent flat rate while granting a major tax cut for the wealthy by throwing out rates as high as 35 percent and eliminating estate and investment taxes.

It is the centerpiece of an ambitious proposal that aims to overhaul political sacred cows like Social Security and Medicare while slashing the federal budget.

Perry, a Republican presidential candidate, said his proposal would also offer benefits to middle-class Americans by giving a $12,500 deduction for every member of a household while preserving exemptions for state and local taxes, mortgage interest and charitable contributions for anyone making less than $500,000. He said anyone could still file under the current code, and he also pledged to lower the corporate tax rate to 20 percent, from 35 percent.

"Taxes will be cut on all income groups in America," said Perry, who promised that taxes could be filed on a postcard-size form under his plan. "The net benefit will be more money in Americans' pockets, with greater investment in the private economy instead of the federal government."..............Perry outlines plan for flat tax, slashing budget

[Cincinatus' Wife]

[American's for Tax Reform] ATR Summary of Perry Tax Plan

Mark Levin: Mark Levin: Rick Perry has come up with one hell of a proposal -- gives breakdown.

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Perry Ping....

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