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Gov. Perry Unveils 20 Percent Flat Tax Plan: ‘Cut, Balance, and Grow’

Gov. Perry Unveils 20 Percent Flat Tax Plan

(Photo: AP)

Republican presidential candidate Rick Perry has rolled out his economic plan that includes a flat tax proposal, private retirement accounts for Social Security and a lower corporate tax rate.

The Texas governor on Tuesday outlined a proposal he calls “Cut, Balance and Grow” that is aimed at creating jobs and fixing the struggling economy, voters’ top concerns heading into the 2012 election. Perry’s plan sets a flat 20 percent income tax rate, but also gives taxpayers the option of sticking with their current rate.

“My plan restores American competitiveness in the global marketplace and provides strong incentives for U.S.-based employers to build new factories and create thousands of jobs here at home,” Perry said in an opinion article published online in The Wall Street Journal Monday night.

Perry’s plan maintains popular deductions for families making less than $500,000 a year, and eliminate taxes on Social Security benefits.

His plan also drops the corporate tax rate to 20 percent, and eliminates taxes on qualified dividends and long-term capital gains.

Basically, Gov. Perry’s plan will give individuals the option of paying a 20 percent flat-rate income tax. It will also cap federal spending at 18 percent of GDP. Another selling point – the simple 20 percent flat tax will allow Americans to file their taxes on a postcard, saving up to $483 billion in compliance costs, according to Gateway Pundit.

During an interview on CNBC, Perry dismissed accusations that his plan would be a giveaway to the wealthy, saying, “I don’t care about that.”

In fact, the Obama administration has already rushed to criticize the plan.

“Both the Romney and Perry economic plans embrace a far-right vision for our tax code,” wrote James Kvaal, policy director for Obama for America. “They share elements with plans offered by congressional Republicans, which independent economists believe would fail to accelerate job creation now. Both plans would cut taxes on wealth and investment income, shifting the tax burden onto work and wages. Both plans are likely to be costly, driving up the deficit at a time of historic fiscal challenges. And under both plans, the most fortunate Americans would pay less while the middle class would pay a higher share.”

Perry said he wants to give business people incentives to invest in their companies and start new ones. He said he rejects “this idea that we’ve got to have a tax system in this country where you take more away from those that have the ability to create jobs. … What I’m interested in is getting America working.”

The major policy rollout is a critical part of Perry’s efforts to right a struggling campaign. And it sets Perry to the right of chief rival Mitt Romney, who wants to make less sweeping changes to the tax code.

“It will be an extremely difficult task exacerbated by the current economic crisis and our need for significant tax cuts to spur growth,” Perry said in his Journal article. “But that growth is what will get us to balance, if we are willing to make the hard decisions of cutting.”

Perry chose South Carolina, where he announced he was running for president, to unveil the plan. The first-in-the-South primary state is critical to his path to the nomination, though he has fallen in the polls here just as he has dropped nationally.

He also planned a news conference in the state capital, Columbia, and a fundraiser at the home of former South Carolina GOP chairman Katon Dawson, his top South Carolina adviser.

The National Journal had an interesting perspective on the proposed plan:

…the most significant feature of Perry’s plan is his call for a flat tax rate of 20 percent. Taxpayers who don’t want to pay a 20 percent flat income tax, he said, can keep their current rate. Current marginal income tax rates range from 10 percent to 35 percent, depending on taxpayers’ income.

Perry offers several proposals that appear designed to sweeten the offer — and to counter criticism that the flat tax is regressive, taking a proportionally bigger bite from smaller incomes. His plan would preserve popular deductions for mortgage interest and donations to charity for households earning less than $500,000 a year. It would increase the standard deduction to $12,500.

But Perry would eliminate other tax breaks. He argues that a streamed-down tax code (so simple, he says taxpayers can file on a postcard), along with spending cuts and entitlement changes, will stimulate the economy.

The Associated Press contributed to this story.

Comments (55)

  • reynosa98
    Posted on October 25, 2011 at 11:27pm

    Well I don’t know too much about history, Don’t know much about geography, ( I kept gettin’ lost on the way to class) but I do know I did real well in biology ( not the class, just the subject). And I do know if Steve Forbes backs the Perry plan then that’s good enough for me. 999 sounds like a phonecard plan I had with MCI back in the late ‘80’s . It was a good plan until I left the pin # in my parachute pants & my mom washed it with my Bon Jovi t-shirt & my Reebok pump-up sneakers. Come to think about it I think that was also the same week I lost my mullet, too.

    Report Post »  
    • Stuck_in_CA
      Posted on October 26, 2011 at 6:53am

      I don’t think Bilderberg Rick has the mental capacity to have an original idea. He was a “C” student. Each time he speaks, it shows.
      If we’re gonna be stuck with a member of the ruling class elite, we should at least choose one with a superior intellect.
      I’m going with Newt. He has the bold ideas to fix many of the country’s problems, and doesn’t seem too concerned about the PC police.

      Report Post » Stuck_in_CA  
  • Daddymac10
    Posted on October 25, 2011 at 11:19pm

    Rick Perry, why are you wasting our time?? A tax plan is useless if you claim to be a conservative but support illegal immigration 100%. What good a tax plan gonna do if you lack the skills to debate?? Obama would embarrass him in a debate. Do we really wanna see that?? We cannot risk Obama getting re-elected..

    Report Post » Daddymac10  
  • watashbuddyfriend
    Posted on October 25, 2011 at 10:35pm

    Same message to Rick Perry: Corporations DO NOT PAY corporate income taxes! BUT, they do collect from the Consumer, by adding it to the price of their product, or service, then pass it onto the Feds.

    Report Post »  
  • ronnie8365
    Posted on October 25, 2011 at 10:23pm

    Is he out of his Mind!! My wife and I after deductions paid 6% last year. I will be paying more under Herman Cains plan at 9% but I’ll do that just to take the teeth out of the IRS. Cains plan needs to be for 10 years with no way Congress can touch it!! That way business’ will know what they are paying for the next 10 years and Congress will have to work within that 10% for 10 years. And they will probably have more money than they know what to do with.

    Report Post »  
  • Bush Hating Conervatives make me sick
    Posted on October 25, 2011 at 9:59pm

    I have a question for all the Perry supporters! Do you really want to see him debate BHO? BHO would destroy him. There’s only 2 candidates that could debate BHO, that’s Newt and Romney.

    Report Post »  
  • logical1
    Posted on October 25, 2011 at 5:46pm

    How is it a flat tax, if there are deductions and so many other marginal rates? Its starting too complicated. Here is my plan. Will someone nominate me for President? I have a lot more details if someone wants to contact me :)
    – Linear progressive rate, starting at the annual poverty income level, with 0%. The rate would cap and level off at $250,000, of 20%. A linear rate would cause people not to avoid achieving a slightly better paying job due to fear of increasing brackets and drastically increasing overall liability, hence reducing the incentive to achieve small gains in opportunity.
    – Allow only 3 deductions: 1. mortgage interest 2. state income tax . 3. local/county property tax.
    Modify the Alternate Minimum Tax to be simply $1, even if EITC would otherwise make the total liability negative.
    – No dependant deductions.
    – No joint marraige filing status. If there are multiple wage earners, they simply file separately.
    – Lower Corporate tax to around 15%. This could be adjusted if the personal tax earns sufficient revenue.
    – Eliminate all short and long-term Capital Gains and Estate taxes.
    – Leave the Earned Income Tax Credit in place, albeit adjusted to fit appropriately into the model.
    – Eliminate the current IRS completely. Then, create a smaller division in the Treasury Department and re-hire the necessary IRS agents into this division.
    – Forgive all current outstanding Income Tax debt. This is minimal compared to result.

    Report Post »  
  • Wolf
    Posted on October 25, 2011 at 5:12pm

    Ya know what’d sound really good, Perry? If you‘d just cut yourself outta the race cuz you ain’t got what it takes to be a Constitutional American. So do a balancing act and grow a pair for the Constitution, then try running for prez.

    Report Post »  
    • JRook
      Posted on October 25, 2011 at 5:16pm

      Of course two basic flaws in his logic and proposal. First, if in fact the current system was hurting the wealthy and choking off investment, than why are they doing better year after year? Second, DEMAND creates jobs not investment. The wealthy, banks and common folks through pension plans, mutual funds etc. invest in companies that can take advantage of Demand. Giving the wealthy more pocket money will not spur demand and will not create jobs.

      Report Post »  
    • Grey Eagle
      Posted on October 25, 2011 at 8:54pm

      Perry does follow the constitution. Why should he drop out? He has the right to present all of his programs and then let the voters decide. I know what kind of Governor he has been in TX and will be voting for him in the Primary.

      Report Post »  
    • Daddymac10
      Posted on October 25, 2011 at 11:29pm

      Really, someone said they think Perry follow the constitution. Are you sure about that?? I’m sure Gov. Perry took an oath to obey the state laws of Texas. Isn’t illegal immigration illegal in Texas?? But Gov. Perry support illegal immigration by giving tax payer money to law breakers. Just like Arnold Schwarzenegger was, Rick Perry is an empty suit liberal posing as a conservative…

      Report Post » Daddymac10  
  • teapartyconservatism
    Posted on October 25, 2011 at 5:04pm

    Citizens derive equal rights under our Constitutional Republic. Why should one pay more for these equal rights by paying 20% of a higher income, than someone paying 20% of a sser income?

    Regarding principled government, Obama’s birth certificate alleging where he was born also proves his parents citizenship “when” he was born. Based on the release of his purported long form vault birth certificate, these facts are now beyond Obama’s ability to refute, alter or hide!

    The now inescapable truth is that his Kenyan father absolutely precludes Obama from being a natural born citizen, as required for eligibility to serve as President by the United States Constitution!

    Please don’t let the liberal media or even uniformed conservative talk show hosts, dissuade you from learning the truth and seeking justice, while also preparing to cast an informed vote. Let it be their credibility that‘s hurt by dismissing Obama’s birth certificate and social security anomalies while also bizarrely ignoring the Constitution, not yours!

    Get the irrefutable facts about Obama’s fraudulent birth certificate & social security number as alleged by experts, and the Constitutional truth about his proven birth related ineligibility for failing to be a natural born citizen!

    It’s costs nothing to look, but it could cost you everything if you don’t!

    How to know if Obama is ineligible and remove him from office: http://www.ObamaNotEligible.com

    Report Post » teapartyconservatism  
    • Gr8St8ofWA
      Posted on October 26, 2011 at 2:54am

      I’m curious when Gov. Perry started putting this plan together. Could it have been when his advisors/pollsters saw how Mr. Cain was benefiting from the 9-9-9 plan?

      I can’t place my finger on it, but it certainly appears like he’s trying to make everyone happy. I’m waiting for the, “When I’m elected President, I’ll make sure everyone gets participation trophies so they feel good about themselves even if they voted for a loser.” The rich can pay for them, china can make them and “In Allah We Trust” can be printed on the bottom. Did I leave anyone out?

      BTW, the site mentioned above fails. Either doesn’t exist, down due to too much traffic, or was “hacked”. I did find a similar site, http://obamanotqualified.com, that has all the elements you mention.

      As a web developer and occasional designer (w/photoshop), I actually pulled the doc from the whitehouse site and peeled the layers. The graphic designer that did the job must have been under a tight deadline and/or were simply incompetent.

      L.O.V.E ~ H.O.N.O.R ~ C.O.U.R.A.G.E

      Report Post » Gr8St8ofWA  
  • Barry
    Posted on October 25, 2011 at 4:51pm

    Plan sounds solid. I like Perry

    Report Post » Barry  
    • Elena2010
      Posted on October 25, 2011 at 5:40pm

      I like Cain’s 9-9-9 plan. It puts more money in your own hands and spurs real economic growth. Perry’s 20 percent is too high.

      Report Post » Elena2010  
  • Drakkhanlord
    Posted on October 25, 2011 at 3:07pm

    Consumption Tax seems good …16% or so

    Cut govt by 70% , etc etc

    First we have to get all the Corruption out of DC …and Voting is Not going to get it…

    What part of Voting machines rigged and Voter Fraud do people keep forgetting…?

    or is it Just don not understand…?

    Report Post » Drakkhanlord  
  • Tommyk1
    Posted on October 25, 2011 at 3:06pm

    Sorry I didn’t get all of the Fast Act in with my last post. If interested go to Congressman David Dreier web site. The filing form is simple and I am pretty sure it covers the 47% that don’t pay taxes.

    Report Post »  
  • lukerw
    Posted on October 25, 2011 at 3:05pm

    According to the Laugher Curve… the most Government can collect in Taxes is 17%… and we all know you cannot get Blood from a Stone. Calvin Coolidge for President!

    Report Post » lukerw  
  • Tommyk1
    Posted on October 25, 2011 at 2:53pm

    Working Americans need and deserve a fairer and simpler way to keep more of their hard earned money. That is why I have introduced legislation, H.R. 99, the Fair and Simple Tax Act, which provides for sweeping reform of our tax code based on the idea that Americans should have more control over their own money. H.R. 99 will simplify our tax code while also lowering the tax burden on working families and incentivizing individuals and job creators to invest in our economy.

    A New, Simple Tax Form

    I believe that Americans should not only be paying less in taxes, but they should also be spending less money and time filing them. Already, Americans spend far too much on tax preparation – 6 billion hours at a cost of $265.1 billion per year. This amounts to a 22-cent tax compliance surcharge for every dollar the income tax system collects. The FAST Act would vastly simplify the preparation process by incorporating an optional, single page Fair and Simple Tax Form that cuts the current that tax bracket in half and establishes three new tax brackets – 10 % on the first $40,000 in income, 15% on incomes between $40,000 and $150,000 and 30% on any income above $150,000. The Fair and Simple Tax form also preserves all of the major deductions, including mortgage interest, charitable contributions, state and local taxes, the child tax credit and the personal exemption.

    See Also:Bill Text
    Bill Summary
    Section-by-Section
    Co-Sponsors
    Floor Statement

    Promote Fairness and

    Report Post »  
    • circleDwagons
      Posted on October 25, 2011 at 3:04pm

      progressives have interesting definitions on words. Keeping current tax code does not simplify anything “the FAIR TAX” does 999, one small step

      Report Post » circleDwagons  
  • Madmadgrandma
    Posted on October 25, 2011 at 2:38pm

    Before anyone “unveils” anything…could we please, please, please see a working model at 50, 100, 200 etc?……

    Report Post »  
  • BaustinB
    Posted on October 25, 2011 at 2:23pm

    I still believe Income is not the best vehicle to generate federal income. I’d rather see a 20% tax on purchases and zero income tax. This 20% would be only at the final retail level. Businesses should not pay any taxes. (They don’t now… taxes they pay are passed on to the customer.)

    Report Post »  
    • steveh931
      Posted on October 25, 2011 at 4:44pm

      How would that be divided between State and Federal? Our Founding Fathers wanted all imports and exports taxed for Federal use. the State could collect on imports and exports up to the amount it took to enforce Federal taxation at the ports and not a penny more. However, the Federal Government has grown to big with a enormous debt. Now they steal from the States Revenue to continue their big spending policies. The quicker the debt is paid off, the sooner we can get back to the business of the people and transfer the power back to the States.

      Report Post » steveh931  
    • Cat
      Posted on October 25, 2011 at 4:59pm

      You’re correct
      But …
      The feds are NOT going to drop the income tax.
      Here’s why.
      The IRS is their strongest weapon against us.

      Fair tax, flat tax, 999, 52-40-hike, it’s all campaign rhetoric.
      The politicians will not listen after they’re elected and nothing will change, especially the income tax.

      The ONLY way to curb government is to stop feeding the monster en masse.
      Bureaucrats, federal government unions and the military will not work for free.
      The leaders will have NO clue what to do except imprison, and even that won’t work in their favor.
      They won’t even cut government, they’ll start blaming the non-taxpaying citizen for screwing it all up.
      The fact is, the government screwed it all up …
      The politicians believe they have ALL the answers, but sadly, they’re only in it to steal our money.

      We did NOT vote for republicans in 2010, we voted against liberalism and the politicians STILL haven’t figured that out.

      Report Post » Cat  
  • Founding Father2
    Posted on October 25, 2011 at 1:24pm

    It sounds like a great plan but it is the person proposing it that the voters don’t like. Especially after the ‘you don’t have a heart‘ if you don’t want to subsidize illegals education. No border fence. Failed TX immigration policy. No foreign policy experience. Horrible debater. HPV, binational health care with Mexico, etc. Those are the things that sunk his campaign. Now there is Herman Cain. Cain took all of Perry’s votes. His campaign is based off his personality not his plans. For example, even Herman Cain said he lacks in foreign policy experience but that he is reading up. So he has Perry and Bachmann’s voters. Then there is Romney who has never dropped below 20%, yet has never raised above 30%.

    Fox’s Brit Hume looks into this better than I. You have two GOP voters. The ones that want to win and will pick the best candidate to beat Obama and those that think every candidate can beat Obama. ( http://www.thedailycandidate.com/video/2011/oct/hume_romney_conservative.html ) which one are you?

    Report Post »  
    • Drakkhanlord
      Posted on October 25, 2011 at 3:03pm

      Perry is big pharm and bilderberger …run away from him people.

      Report Post » Drakkhanlord  
  • steveh931
    Posted on October 25, 2011 at 12:52pm

    In fact, the Obama administration has already rushed to criticize the plan.

    “The Obama Administration has no say in our Republic until they follow the guidelines of the U.S. Constitution and listen to the majority from the states”, lame duck!

    I’m a little concerned about the tone in this room. We know as a nation if Obama is re-elected our Republic as we know it will be gone. Perry has been weak in the debates and needs to quit fighting with the other candidates, stay on point, address the people.

    The tax idea’s being brought forward by all candidates should be evaluated and considered. In the end, we the people will vote on a candidate that best represents our nation, not the minority. Let us not argue amongst ourselves, but examine all idea’s that are brought forward over the next thirteen months and work together to put Lady Liberty back on her feet.

    Report Post » steveh931  
  • swehes
    Posted on October 25, 2011 at 12:47pm

    I think 10% flat tax is enough. If 10% is what God asks of us, then that is all that the government needs as well. (Although even a 6% flat tax should be sufficient for protecting the border and sustaining the judicial system.) However I do agree with others here. Get rid of the 16th amendment and use sales tax only. It is a more equal tax system. Make everyone pay. And also put tariffs on the products coming into the USA from.

    Report Post » swehes  
  • Rational Man
    Posted on October 25, 2011 at 12:46pm

    ))))))))20%((((((((((!!!!!!!!!

    Perry doesn’t want to get elected very bad……does he?
    Flat tax-yes, 20%-NO!
    This doofus will turn people off to the good idea of a flat tax.
    This illegal alien loving jerk needs to shut up and go back to “Bushville”!

    Report Post » Rational Man  
    • The Eradicator
      Posted on October 25, 2011 at 3:41pm

      Hi, my name is common sense. What’s urs?…

      he is giving the people an OPTION!…Which means, you can choose. Can you make a decision for yourself?…I hope so.

      I think this is a very strong tax plan, unlike 999, which is a gimmick, in my opinion. Many people around this Nation will end up paying more.

      And yes, I would rather live in Bushville than Obamaboro anyday of the week!!!

      Report Post » The Eradicator  
  • chubbzbar
    Posted on October 25, 2011 at 12:29pm

    Why are we taxing productivity? Shouldn’t we be taxing consumption? What I produce (earn) should be all mine to keep or spend as I want, when I spend it then tax it. Repeal the 16th amendment and institute the Fair Tax. Look into it –

    Report Post »  
  • MarsBarsTru7
    Posted on October 25, 2011 at 12:27pm

    This should be the final nail in the Perry campaign coffin. I said months ago that Perry was one of the two candidates that were big government politicians in small government guise (the other being Romney). Perry’s 20% “Optional” flat tax is a joke. 20%?! If you pay that 20% do you get to waive all state and local taxes? Do you get to waive all other government fees and get a discount on products that are heavily taxed? 20%??? That’s idiocy. Send this professional politician back to his home state and let them sort him out.

    Report Post »  
  • Joisey
    Posted on October 25, 2011 at 12:15pm

    20% is pretty steep for a flat tax. What other taxes are getting cut?

    Report Post » Joisey  
  • Chuck Stein
    Posted on October 25, 2011 at 11:53am

    ““Both the Romney and Perry economic plans embrace a far-right vision for our tax code,” wrote James Kvaal, policy director for Obama for America.” Well, James, I would say “Better far-right than far-wrong.”
    As far as this helping Perry — I doubt it. The biggest thing that Perry has had going for him is Texas job creation. Think of it, though, by that measure we should be trying to draft the governor of North Dakota, right? Perry is simply the beneficiary of a traditional good business (and legislative) climate in Texas. The man flunked out of his chosen major at Texas A&M — all of the lame charges of dim-wittedness levelled at George W. Bush will become charges with legs when it comes to Perry.

    Report Post »  
    • smithclar3nc3
      Posted on October 25, 2011 at 12:18pm

      There‘s nothing far right about our personal INCOME TAX CODE IT’S A PROGRESSIVE LIBERAL AMENDMENT THAT NEVER GOT TRUELY RADIFIED. AND IF IT WAS VOTED ON TODAY IT WOULD FAIL MISERABLY.

      Report Post »  
  • Balrog28
    Posted on October 25, 2011 at 11:47am

    Isn’t this what America was built on – the battleground of ideas? We should have had an economic plan from each of the candidates by now and we could be taking the best ideas of each and combining to get a plan to move forward with. Why the inaction? – we cannot wait til 2012.

    Report Post » Balrog28  
    • pap pap
      Posted on October 25, 2011 at 12:38pm

      @BALROG28

      I loved your post. That should be the methodology. Cain‘s and Perry’s plans both need some tweaking and all the details have not been put out yet so it’s hard to compare how they would turn out for different levels of income. I did an analysis of what I knew about Cain’s plan and it basically would be bad for those that are getting welfare payments as tax refunds (Earned Income Credit and Child Tax Credits) but those making more than $50 K would be alright for the most part.

      Report Post »  
  • AmericanDogMan
    Posted on October 25, 2011 at 12:12pm

    I like Perry‘s plan alot and I’m sending him some money right now!!

    I was on the sideline! But now it’s time to the circle the wagons!! Next step Palin and Demint endorsement!!

    Then the White House!!

    Perry/Paul 2012 or

    Perry/Demint 2012

    Report Post »  
  • smithclar3nc3
    Posted on October 25, 2011 at 12:16pm

    I think a flat tax would be great but it should applied in several layers 9% for low incomes 25-50 thousand, 12% 51-100 grand,15% 100-250 grand,18% 250-1 MIL,20% 1MIL-10 MIL,23% OVER 10 MIL. No write offs no deductions. It should also require that all spending and other legislation be passed through congress putting an end to agencies enforcing legislation on the public without Congressional(and thus public) approval

    Report Post »  
  • randerson503
    Posted on October 25, 2011 at 1:02pm

    Can you do math? Even if you look at Cain’s plan statically, as most of the criticizers do, you would only pay 9% on everything you earn, and 9% on everything you spend. That does not even equate to 18% since most responsible people do not spend everything they earn. Last time I checked, 18 is less than 20. Steve Forbes flat tax was only 17%, so why 20% for Perry.

    Lets add the dynamic results of Cain’s plan. Corporate tax rates drop from 35% to 9% for a decrease of 26%. The flat rate simplification also leads to dramatically reduced compliance costs. These tax savings WILL be passed on to the consumer through lower prices driven by market forces and competition. Therefore the 9% sales tax would be assessed on lower priced retail goods. It’s simply a replacement of a hidden embedded tax that people are currently paying, with a visible sales tax.

    Herman Cain’s plan also expands the tax base. How? The sales tax would be paid by everyone that makes retail purchases. This includes money that is obtained through criminal behavior. Yes, drug dealers, pimps, and ho’s will now be paying something toward funding the necessities of government. Illegal immigrants will also not be able to escape the sales tax. Visitors to this country will also pay the sales tax thereby paying something for their use of roads and services while they are here.

    Report Post » randerson503  
  • randerson503
    Posted on October 25, 2011 at 1:07pm

    I also wanted to add that the 999 plan is only phase 1 of Herman Cain’s plan. Phase 2 is the implementation of the Fair Tax. This is harder to get done since it will require a Constitutional ammendment nullifying the 16th ammendment allowing for the collection of an income tax. The Fair tax is solely a retail sales tax of 23% therby punishing consumption rather than creativity, innovation, production, savings, and investment. Rick Perry does not support the Fair Tax.

    Report Post » randerson503  
  • smithclar3nc3
    Posted on October 25, 2011 at 2:07pm

    sm1313,
    I do understand what a flat tax is I just feel that it should flat across certain incomes levels. Yes it is technically progressive as the rate does progress at higher incomes. I think everyone who can should pay taxes to help support our national defense and some programs. However I feel that someone making 12 mil could easily pay a larger percentage than someone making 30 grand. I also feel that people making below 20 grand should be income tax free as it takes all their income to live. If housing and energy was cheaper than even that number could be lowered . But where I live a two bed room apartment on average cost about 895. month before,electricity,cable and phone all totaled that takes it to about 1200-1300 a month.basicly 15,000-16,000 a year not counting food,and clothing. That 4 grand has to go a long way after shelter takes most of it. I also feel that our tax dollars would be better spent if Congressional approval was required for all spending. And production and prosperity would increase if all regulations went through the people’s house and not out agencies are control by ideologies design to grow government.

    Report Post »  
  • circleDwagons
    Posted on October 25, 2011 at 2:20pm

    @dogman, u‘re wasting u’re money sending it to perry CAIN 999

    Report Post » circleDwagons  
  • AmericanDogMan
    Posted on October 25, 2011 at 2:56pm

    CAIN is a BIG GOVT, FED LOVING, PRO-CHOICE flip flopping liberal!!

    Sorry ROMNEY IS A BIg Govt Mandate loving LIBERAL

    CAIN IS AN IMPLANT FROM THE FED 999puts more money in the FEDS coffers and puts the fed govt in the middle of every transaction!! Write now we only file once a year as a business and once a quarter for payroll! With CAIN all year long every transaction FED on my mind!! No thank you!!

    AND NEWT IS A Mandate loving HALF of LIBERAL!!

    PERRY/PAUL 2012
    Perry/Demint 2012

    Report Post »  
  • circleDwagons
    Posted on October 25, 2011 at 3:13pm

    @sm1313, thanks. me? i’m married with 2 children. i might actually pay more with the FAIR TAX or 999 but either plan simplifies the tax code, levels the field and frees the economy. I might pay more in taxes but I could earn more, save more and my children would have a better future. right now i pay an accountant to do my taxes, when i was in college i did my own and spent hours trying to get the right forms …. and as a college student i was paying federal taxes so THANK ME

    Report Post » circleDwagons  
  • randerson503
    Posted on October 26, 2011 at 8:16am

    Why must people who criticize the plan change it in order to do so. The Fair Tax has the same problem. No one criticises it without making gross assumptions that do not exist. SM1313, you claim that employers would be paying an additional 9% on payroll? That’s ridiculous. There is a business flat income tax of 9%. That’s it. And you seem to be completely ignoring the fact that the employer share of the payroll taxes disappear (which is higher than 9%). And again, 999 is a stepping stone toward the fair tax which is a much better plan than both 999 and Perry’s flat tax.

    I also love your line of “and most economists agree.” Yeah, the same way most scientists agree with anthropomorphic global warming. Both statements are utter BS.

    Report Post » randerson503  

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