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Steve Forbes Endorses Rick Perry's Flat Tax Plan (Says it's better than Cain's 9-9-9 plan)
Business Insider ^ | 10/23/2011 | Zeke Miller

Posted on 10/23/2011 5:55:21 PM PDT by SeekAndFind

Two-time presidential candidate Steve Forbes endorsed Texas Gov. Rick Perry's presidential bid — and his campaign's flat tax — in an interview on Fox News.

Forbes said Perry's plan will have "a very low rate, with great, generous exemptions for adults and for children," adding it would also lower the corporate tax rate.

Businessman Herman Cain has said he is modeling his 9-9-9 plan on Forbes' flat tax principles — though according to a Forbes spokesman, Cain and Forbes have never discussed the plan.

Forbes said he believes Perry's plan will be more appealing than Cain's because it does not inc

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: 999socialism; flattax; hermancain; rickperry; steveforbes; taxinator; taxtrain; zapinator
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1 posted on 10/23/2011 5:55:27 PM PDT by SeekAndFind
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To: SeekAndFind

Here comes the Cain-Bot stampede...


2 posted on 10/23/2011 5:56:26 PM PDT by independent in tx
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To: SeekAndFind

How would we know? We have yet to see the details. Lots of nice sounding slogans about it but no details.


3 posted on 10/23/2011 5:58:32 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: SeekAndFind

Good. I’m glad the GOP is wising up and getting on board with scrapping the current tax code. It is a disaster and one of the main anchors around our productivity. Any candidate in favor of these style plans is getting my vote.


4 posted on 10/23/2011 5:59:03 PM PDT by Lazlo in PA (Now living in a newly minted Red State.)
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To: independent in tx

Bot behavior? You mean like leaping to defend a Perry plan that you know no details about yet?


5 posted on 10/23/2011 5:59:40 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: independent in tx
Here comes the Cain-Bot stampede...

Here's an idea!

How about a discussion of the relative merits of the two plans instead of insults about one candidate or the other?

I know. Spoils all the fun.

6 posted on 10/23/2011 5:59:44 PM PDT by BfloGuy (Even the opponents of Socialism are dominated by socialist ideas.)
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To: independent in tx
Here comes the Cain-Bot stampede...

Well, it certainly beats a PerryBot circular firing squad.

7 posted on 10/23/2011 6:02:03 PM PDT by montag813 (SECURE THE DAMN BORDER! http://www.StandWithArizona.com)
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To: SeekAndFind

Steve Forbes is a good endorsement. Looking forward to hearing more details on the tax plan.


8 posted on 10/23/2011 6:02:19 PM PDT by magritte
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To: BfloGuy

“How about a discussion of the relative merits of the two plans instead of insults about one candidate or the other? “

You’re right. I should have waited until AFTER the ‘heartless’ and ‘illegal tuition’ posts.


9 posted on 10/23/2011 6:02:48 PM PDT by independent in tx
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To: Lazlo in PA

>> Good. I’m glad the GOP is wising up and getting on board with scrapping the current tax code. It is a disaster and one of the main anchors around our productivity. Any candidate in favor of these style plans is getting my vote. >>

AMEN and pass the plate! Both 999 and whatever Perry comes up with - and I assume it will be something like Forbe’s plan of a few years ago - and the FAIR TAX Plan - are ALL, and I repeat ALL, far superior to what we have now.

I love the conversation. Maybe now that a second candidate will have shown the cojones to come up with a serious reform plan, folks will stop debating in ignorance and fear and we can have a long overdue serious discussion about removing the worst plan of all - WHAT WE HAVE NOW!!!!!!!!!


10 posted on 10/23/2011 6:02:59 PM PDT by C. Edmund Wright
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To: independent in tx

Or LaRaza Rick, or “you’re a damned illegal-loving liberal.”

Cainbots are a joke.


11 posted on 10/23/2011 6:04:07 PM PDT by magritte
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To: magritte

Yes, looking forward to more details. Perry is supposed to present it on Tuesday.


12 posted on 10/23/2011 6:04:16 PM PDT by independent in tx
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To: independent in tx

I’m undecided between Cain and Perry. You’re comment doesn’t help your side.


13 posted on 10/23/2011 6:05:08 PM PDT by rwilson99 (Please tell me how the words "shall not perish and have everlasting life" would NOT apply to Mary.)
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To: rwilson99

I actually like them both too. The candidates that is.


14 posted on 10/23/2011 6:09:10 PM PDT by independent in tx
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To: magritte

Cainbots are going to win TX. Get a grip.


15 posted on 10/23/2011 6:09:27 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: eyedigress

We’ll just have to see if Cain makes it that far.


16 posted on 10/23/2011 6:12:00 PM PDT by magritte
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To: magritte
Hmm Cainbots post fact based, intelligent articles making the case FOR their candidate.

Perrybots post bile laced tirades at everyone for not worshiping with them at the shire of St Perry.

Any you think Cainbots are the joke?

17 posted on 10/23/2011 6:13:46 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: magritte

Fair enough.


18 posted on 10/23/2011 6:16:54 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: MNJohnnie

La Raza Rick Perry don’t need no steenking details, gringo.

Details leaked out on the TransTexas Corridore and the ungrateful peasantry rose up against him.


19 posted on 10/23/2011 6:18:17 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: MNJohnnie
La Raza Rick Perry don't need no steenking details, gringo.

Details leaked out on the TransTexas Corridor and the ungrateful peasantry rose up against him.

20 posted on 10/23/2011 6:18:30 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: MNJohnnie
independent in tx
Since Oct 9, 2011

A retread, one of the recent purges, no doubt.

21 posted on 10/23/2011 6:18:36 PM PDT by South40 (Heartless since 1957)
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To: SeekAndFind

The other night, I considered the merits of both a flat tax and a fair tax (which is what 999 turns into in phase 2).

In the end, I decided the fair tax was a superior alternative to the flat tax, since it keeps tax rates more salient—i.e., everyone is constantly reminded how much they’re paying in taxes every time they make a purchase. Whereas with a flat tax, you only see it on your paychecks and tax returns. I’d rather keep it constantly thrown up in people’s face how much they’re being extorted by the State.

Fair tax also encourages more savings and investment, since it’s only a tax on consumption.

Plus, it minimizes class warfare tactics by better assuring that everyone has “skin in the game” so to speak. An income tax is still a tax on success, whether it’s flat or progressive.

A flat tax plan would also keep the loathsome IRS in place. This is undesirable.


22 posted on 10/23/2011 6:19:03 PM PDT by Utmost Certainty (Our Enemy, the State)
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To: SeekAndFind
Forbes said he believes Perry's plan will be more appealing than Cain's because it does not include a sales tax.

The last thing I ever want to see is a VAT tax, but a flat tax (which I like) won't bring in the underground economy like a sales tax would. I haven't made my mind up on any of this, I just make this observation.

23 posted on 10/23/2011 6:19:08 PM PDT by umgud
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To: SeekAndFind

Forbes has historically been a strong proponent of a flat tax. It’s hardly surprising he would support someone who proposes a flat tax. Forbes supporting a flat tax is kinda like “dog bites man”.


24 posted on 10/23/2011 6:19:44 PM PDT by Prokopton
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To: magritte

Be sure to tell Ricky to attack Mitt on his lawn contractors. The nation is really wanting that information in order to pick the next chief executive.


25 posted on 10/23/2011 6:20:30 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: SeekAndFind
Back in 1981, Reagan was able to reduce some 64 tax rates spread across four categories of the personal federal income tax code and boil it down to two rates, 15% and 28% by 1988. A great accomplishment and the lowest tax rates since the 1920's.

The Forbes supported Perry flat tax trumps the fair tax end game of 999/909 and is exactly what America needs.

26 posted on 10/23/2011 6:21:30 PM PDT by Reagan Man ("In this present crisis, government is not the solution to our problem; government is the problem.")
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To: umgud

Well its good Cain didn’t include a VAT then. He introduced a retail sales tax.

I want the noncontributors in our society— illegal immigrants, gang members, prostitutes, etc — to start paying something in federal taxes!


27 posted on 10/23/2011 6:22:36 PM PDT by o2bfree
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To: eyedigress

SOMEBODY has to go after Romney. Cain isn’t going to.


28 posted on 10/23/2011 6:24:43 PM PDT by magritte
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To: SeekAndFind

A flat tax is vastly better than Cain’s 999. No way do we want to go down the road of a consumption tax. And is it even 999 any more? Last I heard for some it will be 909, and for certain zones it will be 333 or 303. Cain’s plan has no chance of passing ever.


29 posted on 10/23/2011 6:26:11 PM PDT by Longbow1969
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To: o2bfree

It takes the regulars to 9. Hell, I lose my deductions but 9% is more than a wash.


30 posted on 10/23/2011 6:26:24 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: magritte

I don’t think he needs to.


31 posted on 10/23/2011 6:27:29 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Longbow1969

Maybe you better wait and find out the details from Perry before you leap to defend a plan you currently know nothing about.


32 posted on 10/23/2011 6:28:53 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: umgud
The last thing I ever want to see is a VAT tax, but a flat tax (which I like) won't bring in the underground economy like a sales tax would.

Almost no one mentions this. The underground economy is almost $1 trillion a year and is untouched by our current tax system or by a flat tax. A national sales tax is the only way to get tax cheats, drug dealers, and other assorted criminals to contribute some of their ill gotten gains to the running of our Country.

33 posted on 10/23/2011 6:29:33 PM PDT by Prokopton
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To: MNJohnnie

Google Forbes Flat Tax or maybe you pay attention on Tuesday when Perry unveils it.

Oh facts are a foreign subject to you.


34 posted on 10/23/2011 6:37:11 PM PDT by marty60
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To: Prokopton

Of course Forbes backs Perry’s Flat Tax, as it’s Forbe’s own plan. Forbes consulted with Perry about it and was in it with Perry from the gitgo. Geez,....., no great revelation here.


35 posted on 10/23/2011 6:37:35 PM PDT by flaglady47 (When the gov't fears the people, liberty; When the people fear the gov't, tyranny.)
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To: SeekAndFind

I wonder how the Perry camp will react when most of the criticisms of 9-9-9 is now repeated back to them.

All the complains about 9-9-9 apply equally to a Flat Tax


36 posted on 10/23/2011 6:38:00 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: marty60

No Marty, unlike you. I actually pay attention to the facts.


37 posted on 10/23/2011 6:39:21 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: marty60
Sorry Marty but until Perry actually unveils his plan you are merely guessing that it will be exactly the same as Forbes plan.

Unlike you, I actually wait to get the facts. I do not merely guess what the facts are going to be.

38 posted on 10/23/2011 6:42:06 PM PDT by MNJohnnie (Giving more money to DC to fix the Debt is like giving free drugs to addicts think it will cure them)
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To: C. Edmund Wright
whatever Perry comes up with - and I assume it will be something like Forbe’s plan of a few years ago

Well of course it will, because Forbes wrote it for Perry. Perry is an airheaded hack career politician who just picks up other people's slogans he thinks will fool the conservative base into supporting him. That game doesn't work so well any more, although Pubbies have been playing it for years.

Perry got into the race late, long after Cain had been running with radical tax reform as a key part of his platform. Now, months later, Perry tries to one-up Cain.

Perry has no role to play at this point but as a spoiler. He never should have run; he is not Presidential material.

39 posted on 10/23/2011 6:49:13 PM PDT by hellbender
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To: Prokopton
A national sales tax is the only way to get tax cheats, drug dealers, and other assorted criminals to contribute some of their ill gotten gains to the running of our Country.

I'm sure the drug dealers will be charging their buyers sales tax, and the tax cheats will stop cheating because they have to pay the new rate. Yep, that'll work.

40 posted on 10/23/2011 6:49:52 PM PDT by McGavin999 ("Make what Americans buy, Buy what Americans make, and sell it to the world" Perry 2012)
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To: McGavin999

Yes, it will work because those drug dealers have to buy flashy clothing, those luxury cars, and other such things. Now even they will have to “pay their fair share” to quote the Democrats favorite line.


41 posted on 10/23/2011 6:51:46 PM PDT by SamAdams76 (Herman Cain 2012)
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To: McGavin999

>> I’m sure the drug dealers will be charging their buyers sales tax, and the tax cheats will stop cheating because they have to pay the new rate. Yep, that’ll work. >>

OMG. You win the award for today with that comment.


42 posted on 10/23/2011 6:56:18 PM PDT by C. Edmund Wright
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To: SeekAndFind
The flat tax would be great.

I think the first $ 40,000 to $ 50,000 in earned income would have zero tax, and then somewhere between 16% to 18% tax on every dollar earned above that.

This way everyone would benefit greatly and without any exception.

43 posted on 10/23/2011 6:57:30 PM PDT by jgge
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To: McGavin999
I'm sure the drug dealers will be charging their buyers sales tax, and the tax cheats will stop cheating because they have to pay the new rate. Yep, that'll work

No, but the tax cheats, drug dealers and other wealthy criminals will be paying sales tax on their Ferrari's, Cigarette Boats, Private Jets, Bling etc, etc, etc. Criminals are big time consumers, otherwise it wouldn't be worth it.

44 posted on 10/23/2011 7:07:40 PM PDT by Prokopton
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To: SamAdams76

Uh huh, and they never steal things or buy things in the underground economy. They don’t waltz right in to Neiman Marcus for their stuff, they rob YOUR house of YOUR stuff. This sort of stuff is like the people who want to register guns saying it’ll stop crime.


45 posted on 10/23/2011 7:10:48 PM PDT by McGavin999 ("Make what Americans buy, Buy what Americans make, and sell it to the world" Perry 2012)
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To: C. Edmund Wright
I can see it all now:

Wacked out druggie goes to his dealer to purchase some drugs. The dealer says "That'll be $109.00". The druggie says "What's the $9.00 for?" and the dealer says "Hey man, I've got to pay sales tax"

46 posted on 10/23/2011 7:13:59 PM PDT by McGavin999 ("Make what Americans buy, Buy what Americans make, and sell it to the world" Perry 2012)
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To: McGavin999
They don’t waltz right in to Neiman Marcus for their stuff

Of course they do. Every merchant of very high end consumer products knows that a significant part of their customer base is criminals.

47 posted on 10/23/2011 7:15:03 PM PDT by Prokopton
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To: Prokopton

All he has to do is buy a used Farrari and the 999 doesn’t apply. How many hours or miles constitutes a used vehicle I wonder?


48 posted on 10/23/2011 7:15:44 PM PDT by McGavin999 ("Make what Americans buy, Buy what Americans make, and sell it to the world" Perry 2012)
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To: Prokopton

If they march into Neiman Marcus they are already paying sales tax on their stuff. I think most of them will find a way to buy underground. It’s not like they’re afraid of breaking the law. Actually, most of them will buy their stuff in Mexico since that’s where most of the guys who have the big money live.


49 posted on 10/23/2011 7:17:39 PM PDT by McGavin999 ("Make what Americans buy, Buy what Americans make, and sell it to the world" Perry 2012)
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To: Prokopton

More then likely they will relocate to an enterpise zone and pay 3-0-3 instead of 9-9-9.


50 posted on 10/23/2011 7:20:14 PM PDT by McGavin999 ("Make what Americans buy, Buy what Americans make, and sell it to the world" Perry 2012)
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