Rick Perry's new tax plan. Hot off the press!

it's all been rumors CV.....so we will wait for the next rumor. maybe he's waiting to see which rumor gets the most attention and go with that.

archer wrote: If you take away taxes on estates and capital gains, lower tax rates on the wealthy and corporations,you have to make that up somewhere.

$438 billion in savings in just the filing and IRS and cost of forms and books and paperwork.

archer wrote: it's all been rumors CV.....so we will wait for the next rumor. maybe he's waiting to see which rumor gets the most attention and go with that.

Why do you make stuff up? This article is straight from his mouth.

And another thing this targets helping seniors too.

To help older Americans, we will eliminate the tax on Social Security benefits, boosting the incomes of 17 million current beneficiaries who see their benefits taxed if they continue to work and earn income in addition to Social Security earnings.

I'd have to see the sources on that.....sounds pretty high. And you will still need the IRS to check everything, make sure people pay, and go after those who don't

The Viking wrote: And another thing this targets helping seniors too.

To help older Americans, we will eliminate the tax on Social Security benefits, boosting the incomes of 17 million current beneficiaries who see their benefits taxed if they continue to work and earn income in addition to Social Security earnings.

That's good for seniors, but lowers revenue further....where does he plan to make it all up?

And this will free up so much money that people are afraid to take out of accounts and spend due to capital gains. People will be spending and buying again as they can did into their investments.

We will eliminate the tax on qualified dividends and long-term capital gains to free up the billions of dollars Americans are sitting on to avoid taxes on the gain.

The Viking wrote:

archer wrote: it's all been rumors CV.....so we will wait for the next rumor. maybe he's waiting to see which rumor gets the most attention and go with that.

Why do you make stuff up? This article is straight from his mouth.

What's made up Viking, nothing formal has been announced, yet you have come on here over the last week or so with Perry's plans, and this one is different than the last. If this one is straight from his mouth, the last one was straight from his? butt maybe?

archer wrote:

The Viking wrote: And another thing this targets helping seniors too.

To help older Americans, we will eliminate the tax on Social Security benefits, boosting the incomes of 17 million current beneficiaries who see their benefits taxed if they continue to work and earn income in addition to Social Security earnings.

That's good for seniors, but lowers revenue further....where does he plan to make it all up?

Not sure, will have to see people run the numbers but part of his plan is also to cap spending at 18%. No bending. And secondly, if this frees up hundreds of billions if not a couple trillion in investments sitting in accounts for years or decades, not wanting to get hit with capital gains tax, people will pull out a lot of money and start to spend again which reinvests into our economy. More people making more money, means more revenue overall instead of it collecting a few % in a back or investment account that people won't touch. SO if, for example another half a billion gets spent back into the economy, then more products are going to have to be built to keep up with demand which means companies are growing, people are making more and even at 20% flat tax that much, after the deductions come back to rebuild our infrastructure. But we will have to see what people say. Perry is on O'Rielly tomorrow night and is expected to grill Perry, we will see how he does and what O'Reily thinks.

archer wrote:

The Viking wrote:

archer wrote: it's all been rumors CV.....so we will wait for the next rumor. maybe he's waiting to see which rumor gets the most attention and go with that.

Why do you make stuff up? This article is straight from his mouth.

What's made up Viking, nothing formal has been announced, yet you have come on here over the last week or so with Perry's plans, and this one is different than the last. If this one is straight from his mouth, the last one was straight from his? butt maybe?

No I never said the 17% was his plan. He never once said 17%. That was Forbes plan and they said they were working off of that and tweeking it. I just used those numbers to show it was a good idea and make comparrisons. This is even better than that one, and in the article, it is what Rick Perry himself said the plan is.