Study: Rick Perry tax plan would cut revenues by $1 trillion, benefit wealthy

[Roy Rolling]

Source: Los Angeles Times

Rick Perry’s so-called flat tax plan would drain a titanic sum from the federal treasury and largely benefit wealthy taxpayers over those in the lower brackets.

That’s the upshot of an analysis of the plan by the nonpartisan Tax Policy Center. Perry last week unveiled the plan, which calls for an optional 20% flat tax on personal income but would also allow taxpayers to remain in the current system.

The plan was derided by some conservatives for not going far enough in eliminating the federal tax code completely. The two-track system would also force many taxpayers to calculate their liability under both systems, critics complained, adding complexity to an already labyrinthian endeavor.

But to Perry’s campaign that option stands as one of the plan’s greatest assets, because it would allow every taxpayer to pay the lowest tax possible. Perry would also eliminate taxes on investment income, a win-win-win.


Read more: http://www.latimes.com/news/politics/la-pn-perry-tax-study-20111101,0,5022265.story?track=rss

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"...and the times, they ain't a-changin' "

[sakabatou]

1. Isn't this what they always do?

Screw the poor, make the rich richer?

[htuttle]

2. "Perry would also eliminate taxes on investment income"

So, allowing speculators to rob us blind isn't enough? He wants to be able to rip us off tax-free, too?

This is a whole new level of crazy -- but wait -- strike that. He knows who *he* really works for. It's the clods who support him that are crazy...

[SoapBox]

3. I can hardly wait to see the Social Security, Medicare, Disability, Single-Wide Trailer House,

Astroturfing-T.Bagger crowd, get behind this!

[Turbineguy]

4. That's how you get elected.

In GOP Land. OK, it helps if you have Faux News to lie for you.