Skip to comments.Steve Forbes Endorses Rick Perry's Flat Tax Plan (Says it's better than Cain's 9-9-9 plan)
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
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Here comes the Cain-Bot stampede...
How would we know? We have yet to see the details. Lots of nice sounding slogans about it but no details.
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.
Bot behavior? You mean like leaping to defend a Perry plan that you know no details about yet?
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.
Well, it certainly beats a PerryBot circular firing squad.
Steve Forbes is a good endorsement. Looking forward to hearing more details on the tax plan.
“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.
>> Good. Im 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!!!!!!!!!
Or LaRaza Rick, or “you’re a damned illegal-loving liberal.”
Cainbots are a joke.
Yes, looking forward to more details. Perry is supposed to present it on Tuesday.
I’m undecided between Cain and Perry. You’re comment doesn’t help your side.
I actually like them both too. The candidates that is.
Cainbots are going to win TX. Get a grip.
We’ll just have to see if Cain makes it that far.
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?
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.
Details leaked out on the TransTexas Corridor and the ungrateful peasantry rose up against him.
A retread, one of the recent purges, no doubt.
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 salienti.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. Id rather keep it constantly thrown up in peoples face how much theyre 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 its flat or progressive.
A flat tax plan would also keep the loathsome IRS in place. This is undesirable.
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.
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”.
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.
The Forbes supported Perry flat tax trumps the fair tax end game of 999/909 and is exactly what America needs.
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!
SOMEBODY has to go after Romney. Cain isn’t going to.
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.
It takes the regulars to 9. Hell, I lose my deductions but 9% is more than a wash.
I don’t think he needs to.
Maybe you better wait and find out the details from Perry before you leap to defend a plan you currently know nothing about.
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.
Google Forbes Flat Tax or maybe you pay attention on Tuesday when Perry unveils it.
Oh facts are a foreign subject to you.
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.
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
No Marty, unlike you. I actually pay attention to the facts.
Unlike you, I actually wait to get the facts. I do not merely guess what the facts are going to be.
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.
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.
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.
>> 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.
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.
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.
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.
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"
Of course they do. Every merchant of very high end consumer products knows that a significant part of their customer base is criminals.
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?
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.
More then likely they will relocate to an enterpise zone and pay 3-0-3 instead of 9-9-9.