Here we go with the flat tax idea. But Perry, cleverly announcing it before he announces it, has a "voluntary aspect to his idea. http://nationaljournal.com/2012-pre...t-tax-code-with-flat-20-percent-rate-20111024 At 20% it sounds like a good plan. My first question is is anyone paying less than 20% now [after deductions] and if there are, why would they change? I am dubious to say the least and we know that liberals will hate this idea as it removes the possibility for social engineering through the income tax system. Either way, I think the whole Republican primary just got a lot more interesting.....
How about fighting wars with other people's money. Using tax dollars for Americans at home rather than for those who don't want American help. Legalizing drugs and stop using tax dollars to keep people in jail. Fie people instead of jail them and pour the money back into the economy. it's real easy, if you want to make it work.
I cant wait till the next debate when Rick does ask the other Rick if anyone in the state wants an additional 20 % tax on top of state taxes. TYPICAL politician..insider. Always look for additional revenue stream instead of CUTS.
Why would they change, you ask? For a couple reasons, at least. First, since the exemptions per person are set at $12,500 each.....when compared, there's a very good chance it WILL be better to go with the flat tax plan. A family of 4 making $50,000 would pay ZERO taxes on $50,000 of income. Secondly, it's going to be much simpler and will not require TurboTax, accountants, H&RBlock or any other help. It will be done on an index-sized postcard and have only a few lines to complete. I think it's left as a choice for starters to let citizens try it and see how they like it. As more and more catch on that it's a better deal, it will be easier to scrap the original tax code altogether. And yes, under the flat tax, some millionaires will pay less, but many will pay more. We'll see if the Warren Buffet's of the country, who think they aren't paying enough in taxes, will go with the one that puts more money into the federal coffers....or the one that puts less into the federal coffers. That will be interesting. Everyone will have the opportunity to compare and choose the one that allows them to pay the lesser amount of federal taxes. The point being, that no one will have to pay more than the 20% rate; that will be a maximum.
They can't do anything until they trash the entire tax code and start over with a new one. This is a complete fraud. Some people on this program some on that, others exempt, while these guys never claim their actual income in the first place. BS!! 　 　 Right now over 1/3rd of the richest income earners, not the richest by far, already pay less than the average household percentage wise (under 17%), why in the world would they choose to pay a higher rate indeed. 　 　 Why the $50,000 number JP5? To sway the middle class into going for the Perry plan and vote republican, so they can renig on the entire premise when they assume power. Good lord, the tax code in place already gives the richest of the rich the advantage, a flat tax doesn't benefit them at all. That's one of the reasons it has never become a reality in the first place. This has absolutely nothing to do with simplifying any process, it would/will only complicate it. If it passed (very doubtful this or the 9-9-9 plan will ever become law), but for the sake of argument let's asume it passed, it will eliminate SS that much faster. Maybe that is the plan all along?? Who knows really we are talking about corporate owned politicians, and Perry is nothing but that with extreme ulterior motives to protect his peer group, the rich/elite. 　 　 Yes we need to get Obummer out of office as soon as possible, but this changing of the guards from one political party to the other accomplishes nothing. Nothing got better by throwing republicans/neo-con artist out on their arses last time and nothing will get better by giving them them control of the national piggy bank again. NOTHING!!! 　 　 　 Act in your best interest and say absolutely no to the best government corporate money can buy, by not voting for the same old BS. Do yourself and the country a favor, and don’t vote democrat or republican for a real change!!! Aww that felt better.
This plan would pretty much end the US as a nation. 20% maximum while cutting estate taxes, capital gains and others would completely bankrupt us. And before you state "well, then we just need to make cuts to balance", its likely that out of the gate, you'd probably have to cut our budget in half, at least a few trillion dollars (which means the end of either defense, SS or Medicare, possibly two things) and then you'd have to continue cutting, because the economic tragedy involved in taking that few trillion out of our economy (it will get hoarded and stuck into low interest accounts of the wealthy, just like the trillions sitting in their bank accounts on the sidelines right now) would lower revenue even MORE after a year or two. Our government cannot run on less than 2 trillion in revenues, and thats probably where this plan, if given as is would lead us to down the road. Given our GDP numbers, there is not a nation in history thats survived on lower revenues. As usual. A completely stupid, unworkable, impossible idea by a Republican that will stir excitement and voter turnout of the most ignorant idiots in our nation. And the plan will never see the light of day anyway. Just like Cain's 9-9-9 fiasco.
Meanwhile the Romney plan addresses many of the same concerns without Killing the baby throwing out the bath water. He does it in a manner that will get bi -partisan support without igniting the flames of class war fare and political stalling and doing NOTHING. That is leadership ..advancing policies that are good..sound and passable to both sides..that benefit an entire nation..NOT just one political party ..or economic group. The Cain plan and now Perry say that the other side is COMPLETEY wrong and MY PLAN is the best ( for me ..) Neither of these twits has an education based on Economics..While Cain has some idea...RAISING TAXES..without a foreign policy or even idea what that means is irresponsible.( and he aint no outsider..passing himself off as just another average Joe..free of big Corporate $$$ ) His mythical price reduction counts on everybody lowering product cost..Like when has that ever happened ? Perry counts on someone else to make his campaign a success. Relies on sending cuts that haven't happened in 15 years ? Like THAT is gonna happen...mythical court reversals allowing DRILL baby Drill in your back yard..( hint ..Not happening ) to create jobs.. His plan fails to get NEAR current spending levels and will need to be less voluntary and way more than 20 % SEE EUROPE . Where all the flat taxes live daily.
