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12-29-2011, 10:01 PM
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"Perry is proposing a flat tax that would allow anybody – regardless of income – to pay one tax rate of 20 percent.
Those with income less than $12,500 would be exempt, and households with incomes less than $500,000 would still be able to deduct mortgage interest and charitable contributions. But other tax breaks and loopholes would be eliminated.
The plan also drops the corporate tax rate to 20 percent and would temporarily lower the rate to 5.25 percent to promote companies working overseas to move to the United States.
The plan would eliminate the death tax and end taxes on Social Security. It would also cut taxes on qualified dividends and long-term capital gains.
http://abcnews.go.com/blogs/politics...ns-9-9-9-plan/
http://www.rickperry.org/cut-balance-and-grow-html/
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