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 ...
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 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.
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.
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