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  1. #1 Rick Perry's tax plan.... 
    Resident Grandpa marv's Avatar
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    http://online.wsj.com/article/SB1000...s_opinion_main
    (snip)

    The plan starts with giving Americans a choice between a new, flat tax rate of 20% or their current income tax rate. The new flat tax preserves mortgage interest, charitable and state and local tax exemptions for families earning less than $500,000 annually, and it increases the standard deduction to $12,500 for individuals and dependents.

    This simple 20% flat tax will allow Americans to file their taxes on a postcard, saving up to $483 billion in compliance costs. By eliminating the dozens of carve-outs that make the current code so incomprehensible, we will renew incentives for entrepreneurial risk-taking and investment that creates jobs, inspires Americans to work hard and forms the foundation of a strong economy. My plan also abolishes the death tax once and for all, providing needed certainty to American family farms and small businesses.

    (snip)

    First, we will lower the corporate tax rate to 20%—dropping it from the second highest in the developed world to a rate on par with our global competitors. Second, we will encourage the swift repatriation of some of the $1.4 trillion estimated to be parked overseas by temporarily lowering the rate to 5.25%. And third, we will transition to a "territorial tax system"—as seen in Hong Kong and France, for example—that only taxes in-country income.

    (snip)

    We should start moving toward fiscal responsibility by capping federal spending at 18% of our gross domestic product, banning earmarks and future bailouts, and passing a Balanced Budget Amendment to the Constitution. My plan freezes federal civilian hiring and salaries until the budget is balanced. And to fix the regulatory excess of the Obama administration and its predecessors, my plan puts an immediate moratorium on pending federal regulations and provides a full audit of all regulations passed since 2008 to determine their need, impact and effect on job creation.

    ObamaCare, Dodd-Frank and Section 404 of Sarbanes-Oxley must be quickly repealed and, if necessary, replaced by market-oriented, common-sense measures.

    (snip)
    ...these are just some highlights. Read the full WSJ article.

    This much sounds good to me....but, again we need to see the details.

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  2. #2  
    Senior Member Tecate's Avatar
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    The devil is always in the details...
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  3. #3  
    Senior Member Arroyo_Doble's Avatar
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    Quote Originally Posted by Tecate View Post
    The devil is always in the details...
    The flat tax is on labor. Dividends and long term capital gains are not taxed.


    I wish someone would have the balls to come out with a flat tax on all income.
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  4. #4  
    Senior Member Tecate's Avatar
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    Quote Originally Posted by Arroyo_Doble View Post
    The flat tax is on labor. Dividends and long term capital gains are not taxed.


    I wish someone would have the balls to come out with a flat tax on all income.
    I could get behind something like a Tobin tax where these insiders who make billions by simply pressing a button (and produce absolutely nothing) or manipulate the value of currencies around the world for their own gains would have to pay a percentage of their profits to the government.

    The national debt would probably be eliminated in short order.
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  5. #5  
    Senior Member Molon Labe's Avatar
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    20% income tax rate? Screw Perry.

    It's a real sad state of things when conservative means having to settle for higher taxes.

    Looks like he made that up on the spot.

    This makes Cain's 9% look craptastic.
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  6. #6  
    Senior Member Molon Labe's Avatar
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    Quote Originally Posted by Arroyo_Doble View Post
    The flat tax is on labor. Dividends and long term capital gains are not taxed.


    I wish someone would have the balls to come out with a flat tax on all income.
    It doesn't take balls....it takes stupidity.


    You can run this country on the budget of 2002 without an income tax. I think that would be just fine.
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown


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  7. #7  
    Senior Member Madisonian's Avatar
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    Under my plan, we will establish a clear goal of balancing the budget by 2020. It will be an extremely difficult task exacerbated by the current economic crisis and our need for significant tax cuts to spur growth. But that growth is what will get us to balance, if we are willing to make the hard decisions of cutting.
    Another candidate wannabe that would not balance the budget until he is out of office.
    More political bullshit.
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  8. #8  
    PORCUS MAXIMUS Rockntractor's Avatar
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    Quote Originally Posted by Madisonian View Post
    Another candidate wannabe that would not balance the budget until he is out of office.
    More political bullshit.
    More wind from the Ron Paul man. .
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  9. #9  
    Senior Member Tecate's Avatar
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    Quote Originally Posted by Rockntractor View Post
    More wind from the Ron Paul man. .
    I know all of you guys have invested your entire identity in hating Ron Paul, but for the record, he's actually higher in the polls than Rick Perry right now.

    I told you guys on the first day that Perry was a fraud and would flop fairly quickly.
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  10. #10  
    Senior Member Madisonian's Avatar
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    Quote Originally Posted by Rockntractor View Post
    More wind from the Ron Paul man. .
    More witty commentary from the Porcine For Perry?
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