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Perry to Propose Optional Flat Income Tax of 20%
http://politics.blogs.foxnews.com/2011/10/24/perry-propose-optional-flat-income-tax-20 ^ | 10-24-2011 | Carl Cameron

Posted on 10/24/2011 1:45:55 PM PDT by smoothsailing

Perry to Propose Optional Flat Income Tax of 20%

Carl Cameron

October 24, 2011

Texas Governor Rick Perry is formally unveiling his flat tax proposal Tuesday in South Carolina. His campaign hopes the plan will gain traction with people who are fed up with the current tax system.

Sources tell Fox News it will be an optional 20% flat income tax with a $12,500.00 deduction per individual, per household. Taxpayers may otherwise choose to keep paying under existing IRS code.

(Excerpt) Read more at politics.blogs.foxnews.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: flattax; heartless; patriot; perry; perry2012
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1 posted on 10/24/2011 1:46:00 PM PDT by smoothsailing
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To: shield

*


2 posted on 10/24/2011 1:47:14 PM PDT by smoothsailing ( (FUBO-FUMR!))
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To: smoothsailing

hmmm......20% or 9%....20 or 9......it’s a difficult choice but one that according to the polls, people have been making for over a month now.


3 posted on 10/24/2011 1:47:47 PM PDT by Grunthor (Poster may come off as abrasive, perhaps even rude. Consider this your warning.)
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To: smoothsailing

If true, and he’s hoping to one-up Cain with this… uh, lol.


4 posted on 10/24/2011 1:48:43 PM PDT by Utmost Certainty (Our Enemy, the State)
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To: Grunthor

20%, no taxation of savings, and big exemptions vs 18%, taxation of savings, and 0% income tax for “low income” people.

Cain’s proposal is better than what we have, and I would gladly support it, but technically and politically Perry’s is better.


5 posted on 10/24/2011 1:54:36 PM PDT by achilles2000 ("I'll agree to save the whales as long as we can deport the liberals")
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To: Utmost Certainty; smoothsailing
If true, and he’s hoping to one-up Cain with this… uh, lol.

I really don't like the idea of having both a federal income tax and a federal sales tax. A future congress could up the rates on both. There is no super-majority necessary to raise tax rates.

6 posted on 10/24/2011 1:55:38 PM PDT by Paleo Conservative
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To: Grunthor

How much of your income would you spend on taxable items?

Even without the sales tax, a family of four making $90k or less would pay less under the 20% flat tax.


7 posted on 10/24/2011 1:56:22 PM PDT by thackney (life is fragile, handle with prayer)
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To: Grunthor
20 or 9......it’s a difficult choice

How many 9's are we talking about? 2 or 3?

20% flat income tax with a $12,500.00 deduction per individual, per household

What is the individual deduction under the 9% plan?

8 posted on 10/24/2011 1:56:41 PM PDT by smoothsailing ( (FUBO-FUMR!))
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To: smoothsailing

I’m for a national sales tax on new goods valued under $15,000. 10% should do it.

This means everyone pays and because it is a sales tax everyone can SEE the tax which means that they will WATCH it too.

Repeal the income tax. No more IRS and no more personal or corporate income tax.

This will also make the so-called non-profits that do not reed, house or clothe humans pay something. It is outrageous that the 503 type laws are being abused the way they have been over the last decade....


9 posted on 10/24/2011 1:57:10 PM PDT by isthisnickcool (Sharia? No thanks.)
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To: fightinJAG

The debate begins! :)


10 posted on 10/24/2011 1:59:17 PM PDT by smoothsailing ( (FUBO-FUMR!))
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To: Paleo Conservative

That’s a silly argument, considering that are already dozens of embedded taxes that Congress jacks the rates up on all the time under your nose.

I’d rather have the NST (national sales tax) because it’s much more salient.

Phase #2 of 999 gets rid of the income tax and IRS. :)


11 posted on 10/24/2011 2:01:07 PM PDT by Utmost Certainty (Our Enemy, the State)
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To: smoothsailing

So, is it 20% for corporate tax rate too?
20+20=40 or 9+9+9=27.

If it is optional I’m going to have to figure out my taxes both ways so I can decide which one is cheaper.
I could just file the EZ form if I wanted to do them quick.

If we leave the current system in place all the evil rich corporations will still have all those loopholes they purchased with lobbying/campaign dollars. It doesn’t get rid of the system to introduce more loopholes/deductions.

One of the most attractive portions of 999 is removing the power of congress to social engineer our country through the tax code. Perry’s plan doesn’t do that.


12 posted on 10/24/2011 2:01:10 PM PDT by toast
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To: Cincinatus' Wife; RoosterRedux; jonrick46; deepbluesea; RockinRight; TexMom7; potlatch; ...
Perry Ping....

IF you'd rather NOT be pinged FReepmail me.

IF you'd like to be added FReepmail me. Thanks.

*****************************************************************************************************************************************************

>

13 posted on 10/24/2011 2:02:26 PM PDT by shield (Rev 2:9 Woe unto those who say they are Judahites and are not, but are of the syna GOG ue of Satan.)
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To: smoothsailing

Hmmm, let’s see 18% under Cain’s plan, minus 7.65% payroll tax vs. 20%.


14 posted on 10/24/2011 2:02:42 PM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
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To: achilles2000

“Cain’s proposal is better than what we have, and I would gladly support it, but technically and politically Perry’s is better.”

By far...absofinglutely.


15 posted on 10/24/2011 2:03:15 PM PDT by jessduntno ("They say the world has become too complex for simple answers... they are wrong." - RR)
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To: smoothsailing
What is the individual deduction under the 9% plan?

$0.

16 posted on 10/24/2011 2:04:25 PM PDT by thackney (life is fragile, handle with prayer)
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To: smoothsailing

Here we go again. Discussion is changed from repealing Obamacare and reducing Federal Government spending to how do we change the Federal Tax Code to raise the trillions of dollars the Federal Government wants to spend.


17 posted on 10/24/2011 2:04:45 PM PDT by ngat
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To: smoothsailing
The little dumb boy in the back of the room, in the dunce caps, trots out warmed over Forbes and Judy tax plan, they both lost,. Look how smart he is. Polling below Ron Paul and trending down. Look how smart he is! !!!!!
18 posted on 10/24/2011 2:05:47 PM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow demorats.)
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To: smoothsailing

I’ll go with the lowest number.


19 posted on 10/24/2011 2:06:08 PM PDT by New Jersey Realist (America: home of the free because of the brave)
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To: Utmost Certainty
Phase #2 of 999 gets rid of the income tax and IRS. :)

Don't hold your breath waiting for a repeal of the 16th amendment.

20 posted on 10/24/2011 2:07:00 PM PDT by Paleo Conservative
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To: smoothsailing

My Taxes would quadruple with this 20% flat tax. My primary reason I’m not for a 100% flat tax, however, is that it doesn’t touch the almost $1 trillion underground economy.


21 posted on 10/24/2011 2:08:31 PM PDT by Prokopton
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To: smoothsailing

I want to move away from citizens being required to keep financial records and have those audited by the government absent the protection of a jury of their peers entirely.

You go with the plan that represents your values and vision.


22 posted on 10/24/2011 2:09:11 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: jessduntno

See post #14.


23 posted on 10/24/2011 2:09:42 PM PDT by New Jersey Realist (America: home of the free because of the brave)
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To: smoothsailing

Let’s see if Perry has enough confidence in his tax plan to project what the unemployment % will be at his first midterm election. If not, fogitaboudit, it’s not a plan, it’s a speech.


24 posted on 10/24/2011 2:10:31 PM PDT by ex-snook ("above all things, truth beareth away the victory")
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To: toast
I believe in empowerment zones. Most of the unemployed black Americans in this country are in these mostly economically depressed areas. It could be, and I’m only using this as an example, because we haven’t finished establishing the parameters yet. Instead of in a designated empowerment zone, it being 9-9-9, it could be, as an example only, 3-3-3.

What this does, because you have a lot of African-Americans located in cities like Detroit, disproportionately, it would encourage businesses to stay in business there or to move there. It would encourage people to work there, because if you live in the empowerment zone, you’re going to pay a smaller percentage in taxes.” Herman Cain CNN Oct. 14th

Nope, no social engineering here.

25 posted on 10/24/2011 2:11:31 PM PDT by normy (Don't take it personally, just take it seriously.)
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To: toast
I believe in empowerment zones. Most of the unemployed black Americans in this country are in these mostly economically depressed areas. It could be, and I’m only using this as an example, because we haven’t finished establishing the parameters yet. Instead of in a designated empowerment zone, it being 9-9-9, it could be, as an example only, 3-3-3.

What this does, because you have a lot of African-Americans located in cities like Detroit, disproportionately, it would encourage businesses to stay in business there or to move there. It would encourage people to work there, because if you live in the empowerment zone, you’re going to pay a smaller percentage in taxes.” Herman Cain CNN Oct. 14th

Nope, no social engineering here.

26 posted on 10/24/2011 2:12:24 PM PDT by normy (Don't take it personally, just take it seriously.)
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To: justsaynomore

Where are you getting 18%?


27 posted on 10/24/2011 2:12:48 PM PDT by Retired Greyhound (.)
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To: New Jersey Realist

See a calculator.


28 posted on 10/24/2011 2:13:36 PM PDT by jessduntno ("They say the world has become too complex for simple answers... they are wrong." - RR)
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To: achilles2000

How did you come up with 18%?


29 posted on 10/24/2011 2:13:53 PM PDT by Retired Greyhound (.)
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To: thackney

Not true. There are deductions for charitable contributions and business expenses under Cain’s 999.


30 posted on 10/24/2011 2:14:43 PM PDT by Utmost Certainty (Our Enemy, the State)
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To: smoothsailing

Are there any conservatives who have any interest in cutting back the size and scope of government? All I see is politicians who are coming up with clever, more palatable schemes to take money from us to fund the ever-expanding destructive federal monster. Just cut the spending. Cut government control and spending. Cut government involvement in our lives.
Do any of you get this? Is there anybody out there who isn’t take in by the better funding nonsense?


31 posted on 10/24/2011 2:16:35 PM PDT by all the best
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To: org.whodat

Do you know who was Co-Chairman of the Steve Forbes for President Campaign in 2000?


32 posted on 10/24/2011 2:18:02 PM PDT by smoothsailing ( (FUBO-FUMR!))
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To: achilles2000

999 doesn’t tax savings.


33 posted on 10/24/2011 2:18:12 PM PDT by Utmost Certainty (Our Enemy, the State)
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To: Utmost Certainty

Yes, as there are in the other plan.

But the personal deduction, a deduction for each dependent and the tax payer, is $0.


34 posted on 10/24/2011 2:18:20 PM PDT by thackney (life is fragile, handle with prayer)
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To: all the best
Are there any conservatives who have any interest in cutting back the size and scope of government?

Every Republican candidate has proposed substantially cutting the size of the federal government.

35 posted on 10/24/2011 2:20:07 PM PDT by Prokopton
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To: shield

So far sounds good...looking forward to hearing it in full tomorrow.


36 posted on 10/24/2011 2:20:10 PM PDT by magritte
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To: all the best

“Are there any conservatives who have any interest in cutting back the size and scope of government? “

Yes. Why do you ask? Are you suggesting we have no need for any government at all?


37 posted on 10/24/2011 2:20:26 PM PDT by jessduntno ("They say the world has become too complex for simple answers... they are wrong." - RR)
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To: Retired Greyhound

“Where are you getting 18%?”

9% income and 9% sales.

I was being generous and saying that people would spent 100% of their income on new items. I didn’t even count the 22% embedded tax that would come off.

Technically Cain’s plan is

1.35% income tax (with payroll tax deduction) minus charitable contributions

9.00% of every new item but the cost of that item comes down 22%, and 0% on every used item.


38 posted on 10/24/2011 2:20:51 PM PDT by justsaynomore (Cain 2012 - http://teamcain.hermancain.com)
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To: all the best

If I had it my way, I’d abolish the federal government along with all of its entrenched taxocracy.


39 posted on 10/24/2011 2:20:51 PM PDT by Utmost Certainty (Our Enemy, the State)
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To: Prokopton
My Taxes would quadruple with this 20% flat tax.

You pay 5% in taxes? How do you do that?

40 posted on 10/24/2011 2:21:34 PM PDT by thackney (life is fragile, handle with prayer)
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To: MrEdd

Not having to prove to the government at penalty of imprisonment what i do or don’t make, spend or have, is the best reason to support any kind of sales tax. I would probably pay more money but the simplicity, predictability and honesty of it are appealing.


41 posted on 10/24/2011 2:21:47 PM PDT by azcap (Who is John Galt ? www.conservativeshirts.com)
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To: jessduntno

Sure it is. It keeps the whole IRS that already exists and adds government jobs by creating a whole NEW IRS department to handle the flat tax returns with completely different calculations. It keeps all the accountants working and all the tax lawyers as well.
That is simply brilliant.


42 posted on 10/24/2011 2:25:33 PM PDT by MestaMachine (obama kills)
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To: smoothsailing

If there’s one thing Rick Perry loves, it’s a pissing contest.


43 posted on 10/24/2011 2:25:42 PM PDT by La Enchiladita
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To: smoothsailing

Optional my ass.

If you implement the 20% flat tax you need to abolish the current tax code. Otherwise, 10 years down the road you’ll be paying both.

One or the other...not both, optional or otherwise!


44 posted on 10/24/2011 2:25:48 PM PDT by hattend (If I wanted you dead, you'd be dead. - Cameron Connor)
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To: smoothsailing

I really do not care, has nothing to do with support of his tax plan. it was voted down by the voters, but it is a good plan if you like the IRS and big government. Some people learn and move on, some want to try the same old thing over and over. And I was also one of the people that supported Forbes. How much has the federal debt increased since that time.


45 posted on 10/24/2011 2:27:36 PM PDT by org.whodat (Just another heartless American, hated by Perry and his fellow demorats.)
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To: thackney
You pay 5% in taxes? How do you do that?

Deductions, lots of (legitimate) deductions.

46 posted on 10/24/2011 2:28:42 PM PDT by Prokopton
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To: all the best

We have a GOP field now all competing to propose new taxes, more taxes, etcetera. I can’t believe my eyes and ears: dumb and dumber, that’s our answer to the Zero administration. Swell.


47 posted on 10/24/2011 2:29:12 PM PDT by La Enchiladita
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To: justsaynomore
Lets see. A family of 5 making $100,000 pays 7,500 under Perry and 9,000 under Cain plus the extra 9% sales tax added to the 8.25 state sales tax I already pay.

Wait if I live in a largely African American Empowerment Zone (Cain's words) I pay 0% on income but if I live in broke trailer park in Oklahoma I pay 9% on income.

I can't wait for this argument.

48 posted on 10/24/2011 2:31:56 PM PDT by normy (Don't take it personally, just take it seriously.)
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To: Prokopton
And based upon what has been released about the plan, which of those have been eliminated?

I have’t read that charitable deductions are gone. What have you seen?

49 posted on 10/24/2011 2:32:47 PM PDT by thackney (life is fragile, handle with prayer)
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To: FReepers; Everyone; All;



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50 posted on 10/24/2011 2:32:59 PM PDT by onyx (You're here on FR, so support it! Compiling New Sarah Ping List. Let me know if you want on it.)
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