Rick Perry's plan calls for Forbes Flat tax. Great plan!

Perry's new Flat Tax! I can't wait for the details on this. It is already getting rave reviews. It will get rid of the three million words of the current tax code and looks as though it may be a 17% flat tax and exceptions for under $36,000 which the 9-9-9 does not have. And this doesn't punish the poor and no extra tax on gas. It also would have eliminated taxes on personal savings and capital gains.

Mr. Perry is being advised on his flat-tax plan by Mr. Forbes, who said in a telephone interview that the Perry camp is still tweaking the numbers on rates and exemptions in its plan. But he added that "the concept remains the same" as his own flat- tax plan from the 1990s.


http://online.wsj.com/article/SB1000142 ... 38248.html

More tax breaks for the rich and more taxes for the lower and middle class. Great plan...

towermonkey wrote: More tax breaks for the rich and more taxes for the lower and middle class. Great plan...

What? Are you just throwing out random statements that make no sense?

How is going from 10%-0%, 15%-0% and 25%-17% for all the people up to $119,000 for a family, more taxes for the lower and middle class?

towermonkey wrote: More tax breaks for the rich and more taxes for the lower and middle class. Great plan...

Anyone who earns over $36,000 on this Earth is a 1%'r and should pay their fair share.

The Viking wrote:

towermonkey wrote: More tax breaks for the rich and more taxes for the lower and middle class. Great plan...

What? Are you just throwing out random statements that make no sense?

How is going from 10%-0%, 15%-0% and 25%-17% for all the people up to $119,000 for a family, more taxes for the lower and middle class?

Well, since I can't read the plan (have to subscribe to read more than the teaser), I assumed from your post that everyone over $36,000 paid 17%. Tell me more about the deductions, tax exempt IRA contributions, mortgage interest deduction, student deduction... Are any deductions included or is it a 17% tax period? If it is, its a tax increase for the lower and middle class. You can cite tax bracket all day, but that is not the effective tax rate.

17% tax on those who make over $36k is a HUGE increase on the middle class.

PLEASE select Perry as the Republican nominee. He was Al Gore's Texas campaign chairman, so he knows how to run a......

What, what?


[youtube:1gnx7w0n][/youtube:1gnx7w0n]

Amazing how excited you get about a plan we know so little about, Viking.

But a 17% flat tax with zero capital gains tax is a major tax cut for the wealthy. It's nice, that unlike the 9-9-9 plan, there is an exemption which protects the lower income people. But that just means the middle class will have to pay even more to make up for the tax cut for the wealthy. And the extremely rich who make over $1 million a year, most of which is capital gains, get to pay zero.

Great. So far two of the GOP front runners want to cut taxes for the rich, and raise taxes for the middle class.

Just because a middle class person is in the 25% or 28% tax bracket, it doesn't mean that's what they end up paying. After exemptions and the stuff Perry wants to get rid of like deductions and credits, the middle class usually ends up paying below 10%.

Let's just learn more about the specifics.

This is all just electioneering. I won't believe it until I actually see it signed into law.

archer wrote: 17% tax on those who make over $36k is a HUGE increase on the middle class.

Ummmm what tax code are you looking at? You libs make up so many lies and don't back it up. How is it a HUGE increase? and that is not the final number yet. They are still working it out.

Single up to $8500 pay 10% now and it goes to 0%. Between $8500 and $34,500 pay 15% now and it goes to 0%
Between $35,000 and $83,600 pay 25% and it goes DOWN to 17%. In case you don't know math. 17% is less than 25% and 0 is less than 10 or 15%. And that to most is still middle class.

SO seriously don't just throw out random posts that are not true.