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Rick Perry wants a 20% flat Federal income tax

The thing about Perry's plan is that it's not a flat tax. You get to choose between 20% and your current rate. Gee, who do you think is going to choose 20%?? Maybe those paying a higher percentage....don't know where I got that idea.

So, it really is a huge tax cut for higher earners with no pain for anybody else. But he calls it a "flat tax" because "huge cut for the rich" doesn't have the same cachet with the TP. Perry is essentially proposing bigger deficits. Great.

Perry vs. Obama has now swung in my book from undecided to hold your nose and vote for Obama.
 
rocket88 said:
The thing about Perry's plan is that it's not a flat tax. You get to choose between 20% and your current rate. Gee, who do you think is going to choose 20%?? Maybe those paying a higher percentage....don't know where I got that idea.

So, it really is a huge tax cut for higher earners with no pain for anybody else. But he calls it a "flat tax" because "huge cut for the rich" doesn't have the same cachet with the TP. Perry is essentially proposing bigger deficits. Great.

Perry vs. Obama has now swung in my book from undecided to hold your nose and vote for Obama.
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What I noticed about the comments from all those attacking the Perry proposal is that they are always focusing on revenue to the Federal Govt. not income kept and circulated throughout the economy by the taxpayers keeping more of their money. Sounds to me like a lot of young kids here who believe it is the Federal Government's role to provide people with everything they not only need but also want. If that is the case why do we have 50 sovereign states offering duplicate services? Why do we have people like haymarket working for the state government if the Federal Govt. is going to micro manage personal responsibilities?

Today we have a 3.7 trillion dollar govt, up 600 billion dollars from the 2008 budget and expenditures which exclude TARP and the Stimulus Plan and no one here blinks an eye. Wonder why? What is also telling is that we have 53% of households making income paying all the FIT thus 47% paying nothing in FIT. Guess liberals want to define fair share and the fair share for those 47% is zero.
 
When even Fox News comes out and calls your plan "A Disaster for America", a conservative has some re-thinkin' to do!
 
Conservative said:
What I noticed about the comments from all those attacking the Perry proposal is that they are always focusing on revenue to the Federal Govt. not income kept and circulated throughout the economy by the taxpayers keeping more of their money.
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Huge tax cut without accompanying huge spending cuts = larger deficit.

So I'd like to see what spending cuts Perry proposes to go with his huge tax cut.

What is also telling is that we have 53% of households making income paying all the FIT thus 47% paying nothing in FIT. Guess liberals want to define fair share and the fair share for those 47% is zero.
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Perry's proposal does nothing to change that. I appreciate the point you're making, but since Perry's plan doesn't change that, it's a non-sequitur here.
 
rocket88 said:
Huge tax cut without accompanying huge spending cuts = larger deficit.

So I'd like to see what spending cuts Perry proposes to go with his huge tax cut.



Perry's proposal does nothing to change that. I appreciate the point you're making, but since Perry's plan doesn't change that, it's a non-sequitur here.
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Huge tax cuts have to be accompanied by spending cuts but huge tax cuts will put 15 million unemployed Americans back to work paying taxes. Right now those 15 million Americans are paying very little in taxes, plus there are another 64 or so million working, earning income that aren't paying any FIT either. That would be a good start if they paid something
 
Conservative said:
What exactly is your problem with the plan?
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For starters, Rick Perry says he wants the tax code to be simpler, he is in fact making it more complex. Its a choice between the old system and the flat tax. This will go nowhere fast.
 
pbrauer said:
For starters, Rick Perry says he wants the tax code to be simpler, he is in fact making it more complex. Its a choice between the old system and the flat tax. This will go nowhere fast.
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I would prefer the flat tax period but have no problem with the actual plan. What is your problem with the 20% Flat tax?
 
Thunder said:
Romney's government healthcare program in Mass. may seal his fate with most Tea-Baggers.
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the teabaggers wont be deciding this election they are a minority of Gopers
 
Conservative said:
huge tax cuts will put 15 million unemployed Americans back to work paying taxes.
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How so? Business aren't growing because demand isn't growing. Lower taxes doesn't fix that.
 
Conservative said:
I would prefer the flat tax period but have no problem with the actual plan. What is your problem with the 20% Flat tax?
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Huge tax decrease for the top 10% big increase for everyone else...same thing its always been...its not going to change lol
 
pbrauer said:
For starters, Rick Perry says he wants the tax code to be simpler, he is in fact making it more complex. Its a choice between the old system and the flat tax. This will go nowhere fast.
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All hes doing is trying to get the flat tax in so he can attract the rich and make them happy...he knows it will never float
 
hazlnut said:
Besides tanking our consumer-based economy and sending us spiraling into the greatest depression ever?
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How does putting more money into the hands of the consumer do that? Scared that you won't get your govt. check?
 
lpast said:
Huge tax decrease for the top 10% big increase for everyone else...same thing its always been...its not going to change lol
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Spoken like a true brainwashed liberal. How is it that you keeping more of what you earn is an expense to the govt? Why are you so concerned about the govt. getting more revenue? Afraid that you won't get your govt. check?
 
rocket88 said:
How so? Business aren't growing because demand isn't growing. Lower taxes doesn't fix that.
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People keeping more of their money stimulate and grow the economy which creates jobs.
 
Conservative said:
How does putting more money into the hands of the consumer do that? Scared that you won't get your govt. check?
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Conservative said:
Spoken like a true brainwashed liberal. How is it that you keeping more of what you earn is an expense to the govt? Why are you so concerned about the govt. getting more revenue? Afraid that you won't get your govt. check?
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Moderator's Warning:
You need to cease the personal attacks or there will be further consequences.
 
Conservative said:
Scare of the T.E.A. Party? If you are a liberal you should be
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Nope not a liberal not a far right nutjob and certainly not a teabagger...you need to start paying attention...the teaparty is in a great slide...all their hopes are on one super unqualified lackey for the koch bros...herman cain who cannot beat obama....all the other teaparty loved candidates have been rejected by the traditional gop and independents....afraid of the teaparty ? lol they are afraid of guys like me ...republicans all their lives that will vote democrat before they vote for a teapartier
 
lpast said:
Nope not a liberal not a far right nutjob and certainly not a teabagger...you need to start paying attention...the teaparty is in a great slide...all their hopes are on one super unqualified lackey for the koch bros...herman cain who cannot beat obama....all the other teaparty loved candidates have been rejected by the traditional gop and independents....afraid of the teaparty ? lol they are afraid of guys like me ...republicans all their lives that will vote democrat before they vote for a teapartier
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The T.E.A. Party will show up again in 2012 right in time for the election. Why is it that liberals always try and destroy individuals instead of the message? Republicans will vote for anybody in 2012 because of the record generated by Obama. He is totally incompetent as his resume showed.

How about interpreting these results for us?

Obama economic results in 2011,
.4% GDP and 1.3% GDP growth in 2011(bea.gov)
25+ million unemployed or under employed Americans in 2011(bls.gov)
2.6 million fewer jobs(bls.gov)
4.2 trillion added to the debt in less than 3 years(U.S. Treasury Site)
Downgrade of the U.S. credit rating(S&P)
Rising Misery index 7.83 to 12.97 (The United States Misery Index By Year)
38-41% JAR and well over 50-55% disapproval ratings(Gallup)
 
I wonder what he is going to cut to make this work?
 
Conservative said:
People keeping more of their money stimulate and grow the economy which creates jobs.
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You're failing to see the real picture. The thing that stimulates the economy is demand for products. When demand goes up, businesses ramp up production to meet the demand and hire more people.

Right now, consumers and producers are both sitting there waiting for the other side to budge. Producers want to see more demand before they hire people. Consumers want to be hired before they start buying more stuff.

The middle income earners in this country drive demand, because there's more of them. Perry's plan gives them either a tax hike, or the same as before. That's not money in their pockets. In fact, these are the very people you want to raise taxes on. It's a recipe to drive us deeper into the hole.
 
Can we stop with the stupid flat tax crap? There is no number that would provide a flat tax rate that wouldn't either be a drastic cut for the upper class, or a huge burden on the lower class. It simply can't be done. In an economy with this much of a gap between rich and poor, a flat tax simply will not work. A progressive tax system is much more suited to remedying the issues we currently face. Once the poorest among us can afford a 20% tax rate, then we can talk about a flat tax.

Also...
Conservative said:
Scare of the T.E.A. Party? If you are a liberal you should be
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Since when is "TEA" an acronym? And what does it supposedly stand for?
 
Paschendale said:
Can we stop with the stupid flat tax crap? There is no number that would provide a flat tax rate that wouldn't either be a drastic cut for the upper class, or a huge burden on the lower class. It simply can't be done. In an economy with this much of a gap between rich and poor, a flat tax simply will not work. A progressive tax system is much more suited to remedying the issues we currently face. Once the poorest among us can afford a 20% tax rate, then we can talk about a flat tax.

Also...


Since when is "TEA" an acronym? And what does it supposedly stand for?
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Taxed Enough Already. What is the fair share for those not paying any taxes?
 
Conservative said:
I would prefer the flat tax period but have no problem with the actual plan. What is your problem with the 20% Flat tax?
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I believe that the tax code should be based upon one's ability to pay- the more you earn the more you pay in a progressive manner. This is the way our income taxes have since its inception.
 
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