Sunday, December 11, 2011

Flat Tax for the Clueless

Texas Gov. Rick Perry (R), in his quest to win the 2012 GOP presidential nomination, has released a so-called flat tax plan that would institute a 20 percent income tax rate on everyone (minus a few deductions).

[...]

[A]ccording to an analysis by the Tax Policy Center, Perry’s plan would cut taxes for millionaires by nearly $500,000 every year. Meanwhile, a family making $10,000-$20,000 would pay $215 more under the plan, while a family making $20,000-$30,000 would pay nearly $500 more.

[...]

During an interview yesterday with the editorial board of the Des Moines Register, Perry essentially admitted that this analysis is correct, affirming that a low-income person with no deductions would pay the full 20 percent while someone living entirely off of investments could conceivably pay nothing

  Think Progress
What’s wrong with that? He wonders as he adds…

”But again, I don’t think anybody’s going to be able to create a tax system that does not have somewhere an inequity.“
...but hey, do what you want...you will anyway.

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