Posted on 10/28/2011 9:54:33 PM PDT by fightinJAG
With Rick Perry’s call for a 20% Flat Tax, the movement for fundamental, pro-growth tax reform became unstoppable. Perry, Herman Cain, and Mitt Romney are now the only viable candidates for the Republican presidential nomination remaining. With both Cain and Perry now offering dramatic pro-growth tax reform proposals, Romney will either jump on the tax reform bandwagon or be left in the dust (or possibly both).
The only pro-growth tax cuts in Romney’s 59-point economic plan are a reduction in the corporate income tax rate to 25% (from 35% today) and the elimination of the death tax. However, both Perry and Cain are similarly calling for repeal of the death tax. Also, Perry’s plan would cut the corporate income tax rate to 20%, and Cain’s plan would reduce it to the equivalent of 9%.
(Excerpt) Read more at forbes.com ...
Anytime I hear a pundit giving yet another reason why Romney won’t get the nomination, I like it.
This is indeed the fundamental question of 2012: do we want pro-growth tax cuts or tax increases to "punish the rich"?
Considering the power and influence the IRS has, I doubt any reform will happen.
Read the article, if you haven’t yet, and see what you think. The author lays out why he thinks tax reform is inevitable and responds to many of the usual criticisms about how voters are said to react to Perry and Cain’s plans.
how long then do you think, before ole Flip Flop Willard comes out with a Flat Tax plan of his own?
Word!
This is one reason the pessimism that is seen rather often around here really isn't necessary.
Listen. The minute Zero convinces his base that all the evil Republicans and conservatives are going to take their earned income tax credit away, he gets THEM ALL to turn out and vote.
Let’s get zero out of here before we start alarming the parasites about what we’re going to do to them once we win.
No need to give zero ammo to people who stand to lose 2-5000 dollars in earned income credits. Talk tax later.
Funny just thinking about it. There’s just about nothing he can do now that won’t make him look, well, ridiculous.
Saw a headline about how Romney’s supposedly going to “have a Mormon problem.” My first thought was: no, he’s not. For one thing, he’s not going to be around long enough to even think about having “a Mormon problem.”
Romney lost his chance when he came out with his 59-page plan. You don’t get a re-do on a 59-page plan - lol.
This is simply not true, Newt is in the hunt too and his flat tax plan is only 15%.
Romney’s gonna have to flip/flop again?
I hear ya, but I just don’t think we have the time for that kind of political tomfoolery.
Plus, I think the fact that the GOP is out there with a huge pro-economic-growth push (regardless of which plan you prefer) is giving people a lot of hope. Real hope. Not hopey-changey!
Obama has been telling the parasite class that the Republicans are going to take their checks and their foodstamps and make Grandma eat dog food and push Johnnie down the stairs FOREVER. I don’t see how him going back to that well again and again is going to get him anything. Besides, the people who believe that — or who might lose their EITC — are not the people voting GOP anyway.
So, again, I see your point. But I just don’t know that we really gain all that much by not just going for it.
And by rich they are talking about people whose taxable income is about $300,000 a year. A nice sum, but that includes ,many couples and of course small businesses. Dear Lord but they have such a magical understanding of what wealth is! Like it comes out of a bottle in the form of a genie.
I agree with you that Newt can’t be totally ruled out. He’s polling better than Perry in some cases, if I’m not mistaken.
Regardless, he’s a fighter.
I wonder what he and Cain are going to talk about when they are hanging out together at the Lincoln-Douglas debate.
You don’t think he’ll mind, do you?
And don’t get me started on Libs’ definition of a “job.”
Good grief. Just today I was thinking of emailing Thomas Sowell and asking him to write an essay on what actually constitutes a “job” in economic, as opposed to political, terms.
No argument here.
Millions of Americans -- maybe tens of millions -- are in debt to the IRS, which is worse that the worst loan shark that ever lived. They throw on enormous interest and penalties on top of whatever principle you might owe, and almost immediately double or triple the debt. Getting out from under the IRS is extremely difficult.
The problem is, all those millions of people in debt to the IRS only see their problem as an individual one for themselves. If it was possible for everyone to rise to a higher vantage point to see the magnitude of the problem, I suspect there would be a tax revolt of massive proportions.
The income tax was a horrible idea 100 years ago when it was in the process of being proposed, then ratified. But it was sold to the American people as something that would only tax the "robber barons" of the Guilded Age. The sales pitch was that average Americans would pay little to no taxes. That's laughable from our perspective, when the average person with income is paying upwards of 20 to 25 percent of their income to the feds, plus another chunk to their states (in most cases), counties and cities. Plus the feds double, triple and sometimes even quadruple tax every dollar. Anything they can say is "income" is taxed at every point it becomes a different type of "income."
That the American people meekly put up with this rape of their incomes to pay the ever rapacious maw of government is astonishing, and speaks to the tendency of most people to just go along to get along.
If the present Fedzilla tax code goes away, so does — sooner rather than later — the IRS.
The Fedzilla tax code goes away under Cain’s 999 plan.
It remains indefinitely — and infinitely still susceptible to crony capitalism and other corrupt shenanigans — under the Perry plan. In fact, the Perry plan ADDS another tax code on top of the present one: the flat tax optional plan.
That is all.
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