Gov. Rick Perry, in the wake of the media attention given to Herman Cain over his tax plan, unveiled his own proposal for a 20% flat tax rate coupled with corporate tax reductions and spending reductions.

Tax payers would basically have the choice of paying their taxes under the old system with it's average 35% tax coupled with deductions or to pay the 20% flat tax.

Steve Forbes is "very excited" by this plan and has now given his endorsement and support to Gov. Rick Perry.

Steve Forbes says, quote:

"With firm leadership, which Rick Perry will provide, which is why I'm endorsing him for president; I think this will be a winning issue, People love the idea of radical simplicity of this horrific tax code," Forbes says, describing Perry's plan as a "very exciting — very low rate, generous exemptions for adults and for children, making it worthwhile to invest in America again.

The Wall Street Journal also has great things to say about Gov. Perry's Flat Tax proposal in reporting that it will be appealing to conservatives by lowering taxes, flattening tax rates and sharply shrinking the size of government.

So, as all this percolates and economists debate the pros and cons on his plan and it's relation to the all important discussion of stimulating job growth in the private sector, Gov. Rick Perry will in my view garner a much needed bump in his quest for a Republican Presidential primary win.

http://www.moneynews.com/StreetTalk/...0/25/id/415629

http://online.wsj.com/article/SB1000...googlenews_wsj

lol Sounds like another loop hole to me.

Faux News calls Perry's Plan "A Disaster For America"

http://www.foxnews.com/opinion/2011/...r-for-america/

Originally Posted by coralway

Faux News calls Perry's Plan "A Disaster For America"

http://www.foxnews.com/opinion/2011/...r-for-america/

And that is just one more reason he don't stand a chance in *&&^ getting nominated.

Originally Posted by coralway

Faux News calls Perry's Plan "A Disaster For America"

http://www.foxnews.com/opinion/2011/...r-for-america/

Well, if it is fake news then we cannot trust their opinion. You can't have it both ways.

What is encouraging is that a number of the GOP candidates are speaking to the issue of tax reform. It is obvious that tax reform is long overdue. It is also true that any tax reforms will have to come in increments. I do like Perry's suggesting at keeping the federal budget to 18% of GDP. I am sure that there will be built in contingencies addressing national security issues, etc.

Originally Posted by rubicon

What is encouraging is that a number of the GOP candidates are speaking to the issue of tax reform. It is obvious that tax reform is long overdue. It is also true that any tax reforms will have to come in increments. I do like Perry's suggesting at keeping the federal budget to 18% of GDP. I am sure that there will be built in contingencies addressing national security issues, etc.

Look at Romney for your hope.

Originally Posted by The Villager II

Look at Romney for your hope.

Look for Romney is you just want to maintain the status quo.

Originally Posted by RichieLion

Look for Romney is you just want to maintain the status quo.

You may be right on that one.

Just like Hollywood. Make one good movie about a new monster and everyone want to make a movie about a monster. Perry's plan is not original and his stand on immigration is hurting him. He needed something to take the heat off his poor record concerning illegals.

Originally Posted by Figmo Bohica

Just like Hollywood. Make one good movie about a new monster and everyone want to make a movie about a monster. Perry's plan is not original and his stand on immigration is hurting him. He needed something to take the heat off his poor record concerning illegals.

I know his in-state tuition for children here illegally is not popular and I am in that camp. He does, however, have an argument that he is handcuffed somewhat in what he can do with an federal administration that does not enforce immigration laws, and in fact, stands in the way of states that try to enforce the laws themselves. Evidence what Obama's DOJ has done against states that do and even tried to stiffen the state law; they take them to federal court.

So Texas decided it was better to educate these youngsters and Gov. Perry signed the law. I don't like it but do have a bit of understanding about it.

When it comes to the "Wall", it's a matter of opinion. Gov. Perry thinks its unworkable to build, maintain and guard a 1200 mile long wall through Texas. He's in favor of a wall in some places and boots on the ground coupled with intelligence initiatives elsewhere. It's just a matter of opinion and I not convinced his ideas are not the most productive and cost effective.

You're right that he's far from the first to propose a "flat tax". But, he has the means to put a national spotlight on it at this time, and that's not a bad thing.