Perry's tax plan: Take that 9-9-9

[DiamondDave]

Perry has no supporters, he has people that wanted someone other than Mitt...

BTW thx for proving your position on Paul, you don't know his plan but you claim Perry has a better one and he clearly does not.

I say we let Mitt and Perry argue who is more liberal for another entire debate.

BTW Paul polls better than Perry now.

People who want someone other than Mitt sure contributed a lot of money to Perry.
GOP candidates’ third-quarter fundraising: Most of Perry’s money came from Texas - The Washington Post
Perry is leading in the fundraising race, which is more important than rigged polls. How is Paul doing in any of it, btw?
Paul's plan is to balance the budget by eliminating foreign aid and cancelling foreign military involvement. Anyone who thinks that's viable is smoking crack.

YOU CAN'T BALANCE THE BUDGET WITHOUT CUTTING MILITARY SPENDING YOU LIBERAL FOOL. Yes, liberal, that's why you like the big Government illegal supporting Perry.

BTW Paul came in third on total fundraising and he has the most MILITARY support through donated money than all the other candidates combined I believe.

Keep spending bud, soon enough a conservative might call you on your shit… Oh wait, I just fuckin did~

BAM!


Ron Paul leads in Military Donations 2011 Q3 to Republican Candidates


In all donations Q3 Paul is doing fine. How Much the Candidates Raised in Q3 | REPUBLICAN CANDIDATES I also think Paul has the most people donate to him, less huge donations and more small donations.

You have tons on the conservative side screaming for audits on the military budget too.. eliminating programs that are ridiculous... stopping payment on contractors that are not living up to contract... spotting waste and eliminating it, etc...

But at least the military and defense are something constitutionally charged to be a responsibility of our government.. unlike entitlements, and NUMEROUS agencies currently in existence

 

[The Rabbi]

Perry detailed his tax and economic plan in todays WSJ. It is an excellent plan. I am sure someone will find something to carp over, but really there is nothing. It is much stronger than Cain's 9-9-9 plan. And Perry was right when he said "Brother, I'll put my plan up against yours any day."
Rick Perry: My Tax and Spending Reform Plan - WSJ.com

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.

More at the source.
And I'll take odds some people responding will not have read the article.

So working folks pay more, and rich people pay less.

This is a good plan, why again?

Yup, I win. You didnt read teh article.

 

[Utilitarian]

Perry detailed his tax and economic plan in todays WSJ. It is an excellent plan. I am sure someone will find something to carp over, but really there is nothing. It is much stronger than Cain's 9-9-9 plan. And Perry was right when he said "Brother, I'll put my plan up against yours any day."
Rick Perry: My Tax and Spending Reform Plan - WSJ.com

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.

More at the source.
And I'll take odds some people responding will not have read the article.

That's a great plan, except for the fact that 20% is more than I pay currently in income taxes.

 

[Foxfyre]

Perry detailed his tax and economic plan in todays WSJ. It is an excellent plan. I am sure someone will find something to carp over, but really there is nothing. It is much stronger than Cain's 9-9-9 plan. And Perry was right when he said "Brother, I'll put my plan up against yours any day."
Rick Perry: My Tax and Spending Reform Plan - WSJ.com

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.

More at the source.
And I'll take odds some people responding will not have read the article.

That's a great plan, except for the fact that 20% is more than I pay currently in income taxes.

Since we are mostly retired, we have little income and don't pay much in taxes either and will be less likely to be taxed under Perry's plan than the current tax code. And drawing from our retirement fund as we need it is less likely to have negative consequences than what exists with the current tax code.

At face value since the devil is always in the details, I like Perry's plan much more than Cain's 9-9-9 plan because I am so afraid of the VAT that appears to be built into the 9-9-9 plan.

 

[pgm]

And when it comes to theoretical proposed flat tax systems, I doubt the purists would agree to that number under circumstances where people can "opt out" and use the present fiasco of a system.

Yeah, the opt-out feature is ridiculous. Why doesn't Perry just propose a 20% top bracket? Any system like that is more of an opt-in than an opt-out. I can't imagine anyone will take him up on that besides those who are already paying much more than 20%.

And whatever some people call loopholes would have to get closed. Sadly, that would probably include deducting the interest costs for mortgages, so it would draw heavy opposition.

Why should people be able to deduct mortgage payments, but not rent payments? It's just the government subsidizing home ownership. It's favoritism to the suburbs at the expense of cities. There are tons of these things in the tax code that make no sense.

If you think about it, we taxpayers tend to pay a LOT more than 20% We pay maybe somewhere around 1/3rd to the Fed (give or take deductions and other such things). But then we pay STATE tax. And local taxes, like school district taxes, and sewer district taxes and so forth. THEN, of course, we pay sales taxes imposed by the Fed. Think gasoline. THEN we pay sales taxes on top of that for almost everything we buy (except, mercifully, groceries).

Folks have calculated this mess and come to the conclusion that we pay (on average) around 50% or more of every dollar we earn to TAXES.

Who is we? I don't pay anywhere near 50% in taxes. Also, can't you deduct your federal income tax payments from your state tax?

I think a tax break from the feds to ONLY 20% would be nice for many of us.

Whether Team Perry has thought it ALL through, who knows?

But cutting your federal tax rate to 20% won't free you from your other burdens. What percentage do you pay in federal taxes once you take out your deductions?

 

[The Rabbi]

Perry detailed his tax and economic plan in todays WSJ. It is an excellent plan. I am sure someone will find something to carp over, but really there is nothing. It is much stronger than Cain's 9-9-9 plan. And Perry was right when he said "Brother, I'll put my plan up against yours any day."
Rick Perry: My Tax and Spending Reform Plan - WSJ.com

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.

More at the source.
And I'll take odds some people responding will not have read the article.

That's a great plan, except for the fact that 20% is more than I pay currently in income taxes.

With the exception you'll probably pay less. Even so, add what you spend (both time and money) in preparing your taxes now plus the actual bill and compare it to Perry's plan.

 

[The Rabbi]

A

And when it comes to theoretical proposed flat tax systems, I doubt the purists would agree to that number under circumstances where people can "opt out" and use the present fiasco of a system.

Yeah, the opt-out feature is ridiculous. Why doesn't Perry just propose a 20% top bracket? Any system like that is more of an opt-in than an opt-out. I can't imagine anyone will take him up on that besides those who are already paying much more than 20%.

And whatever some people call loopholes would have to get closed. Sadly, that would probably include deducting the interest costs for mortgages, so it would draw heavy opposition.

Why should people be able to deduct mortgage payments, but not rent payments? It's just the government subsidizing home ownership. It's favoritism to the suburbs at the expense of cities. There are tons of these things in the tax code that make no sense.

If you think about it, we taxpayers tend to pay a LOT more than 20% We pay maybe somewhere around 1/3rd to the Fed (give or take deductions and other such things). But then we pay STATE tax. And local taxes, like school district taxes, and sewer district taxes and so forth. THEN, of course, we pay sales taxes imposed by the Fed. Think gasoline. THEN we pay sales taxes on top of that for almost everything we buy (except, mercifully, groceries).

Folks have calculated this mess and come to the conclusion that we pay (on average) around 50% or more of every dollar we earn to TAXES.

Who is we? I don't pay anywhere near 50% in taxes. Also, can't you deduct your federal income tax payments from your state tax?

I think a tax break from the feds to ONLY 20% would be nice for many of us.

Whether Team Perry has thought it ALL through, who knows?

But cutting your federal tax rate to 20% won't free you from your other burdens. What percentage do you pay in federal taxes once you take out your deductions?

A lot of the features are obviously political rather than economic. The opt out is one. The inclusion of mortgage deduction (which I agree ought to go) is another.
It is one more advantage Perry has over other nominees: He is pragmatic without being too compromising. Paul's plan isn't feasible politically anywhere outside a narco-libertarian chat board.

 

[auditor0007]

Perry detailed his tax and economic plan in todays WSJ. It is an excellent plan. I am sure someone will find something to carp over, but really there is nothing. It is much stronger than Cain's 9-9-9 plan. And Perry was right when he said "Brother, I'll put my plan up against yours any day."
Rick Perry: My Tax and Spending Reform Plan - WSJ.com

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.

More at the source.
And I'll take odds some people responding will not have read the article.

The first and biggest problem with his plan is that he believes we can cap spending at 18% of GDP. Every economist out there knows that is an impossible number, unless we just go ahead and push through massive cuts to Medicare and SS, which is not going to happen. Because so few support drastic cuts to Medicare and Medicaid, we are going to have to increase revenue while cutting spending. We need some serious discussion as to what percentage of GDP we are going to find acceptable. What I can assure you is that it will be much higher than 18%. I imagine it will be somewhere between 22 and 25 percent. That still leaves us with a need to make substantial cuts as we are already very close to the 25%, and we still haven't seen the bulk of increases from SS and Medicare that are coming with the retirement of the Baby Boomers.

But I will say, any plan is better then that idiotic 9-9-9 plan that is meant to force the lowest income earners into paying the highest amount of taxes.

 

[Foxfyre]

I simply don't buy that it is impossible to cap spending at 18% or even less, because I believe that ALL of the federal budget is so bloated with non essentials that we could spend half of what is spent and still have money left for the necessary functions of government.

As Ron Paul said in the debates, he doesn't want to cut defense. He sees that as a necessary and constitutional function of government. He wants to cut non essential spending from the defense budget which is an entirely different thing. And I have seen first hand, up close and personal, how millions are being wasted in defense right here in New Mexico. Multiply that over all the defense budget and mega billions can be cut without compromising defense in the least.

Ditto for medicare and social security. If these programs are racheted back to their original intent and government is prevented from spending for other things the revenues that come into these programs, we would buy precious years to give us time to reform and make these programs viable and sustainable.

Eliminating the federal education budget sounds draconian, cruel, and unconscionable to the leftists, but the rest of us know that the federal government with all its entitlements and mandates and regulation is not only greatly escalating the cost of education but diminishing its effectiveness. Simply don't draw the money from the states so that they can devote more resources to their own education programs and we can save billions by getting the federal government out of it. That isn't cutting education. That is cutting non essential spending in the the education budget.

We can save mega millions more by eliminating the lucrative permanent health plans and tax payer funded retirement programs for Congress. Raise their salaries if necessary, but let them fund their own retirement and health plans so that the tax payer isn't obligated to support them for the rest of their lives.

Is it really necessary to send federal employees to exotic resorts for training? There are acres of empty federal buildings that could be utilized for training purposes right there in Washington DC. I have family members and friend in government who are flown all over the world to attend this conference or that conference and while they report they had a grand time on the taxpayer's dollar and saw many wonderful things, they really didn't get the money's worth from all those trips.

Do we really have to redecorate every congressional office every time a new guy or gal moves in? There are hundreds of acres of warehouses in and around Washington DC that hold furniture and furnishings in mint condition that will likely never again see the light of day because every new congress person and/or bureaucrat gets a generous allowance for redecorating their offices. The old stuff isn't moved to another office or sold. It is stored away presumably forever.

And we haven' yet mentioned the hundreds of thousands and millions allocated for this grant or that project of dubious value.

Is it too much to ask that our elected leaders treat our money with the same respect and care that we would?

If they did, they wouldn't need a whole lot of what they now collect and spend.

 

[Ropey]

If they did, they wouldn't need a whole lot of what they now collect and spend.

This follows all forms of governing though. The socialist countries find the redistribution of wealth flows upward.

The experiment of Capitalism/Democracy is still in an infancy and remodeling is the nature of this beast in its growth states. The outcome of this experiment is still unclear.

The world watches whilst it is under attack atm.

From both within and without. (From this Canadians eyes)

 

[The Rabbi]

Perry detailed his tax and economic plan in todays WSJ. It is an excellent plan. I am sure someone will find something to carp over, but really there is nothing. It is much stronger than Cain's 9-9-9 plan. And Perry was right when he said "Brother, I'll put my plan up against yours any day."
Rick Perry: My Tax and Spending Reform Plan - WSJ.com

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.

More at the source.
And I'll take odds some people responding will not have read the article.

The first and biggest problem with his plan is that he believes we can cap spending at 18% of GDP. Every economist out there knows that is an impossible number, unless we just go ahead and push through massive cuts to Medicare and SS, which is not going to happen. Because so few support drastic cuts to Medicare and Medicaid, we are going to have to increase revenue while cutting spending. We need some serious discussion as to what percentage of GDP we are going to find acceptable. What I can assure you is that it will be much higher than 18%. I imagine it will be somewhere between 22 and 25 percent. That still leaves us with a need to make substantial cuts as we are already very close to the 25%, and we still haven't seen the bulk of increases from SS and Medicare that are coming with the retirement of the Baby Boomers.

But I will say, any plan is better then that idiotic 9-9-9 plan that is meant to force the lowest income earners into paying the highest amount of taxes.

We not only can cap spending at 18%, we must. This is because 18% (it isn't a random number) is about the percentage of GDP the gov't can raise in revenue without depressing the economy. And historically it was much less than that. But even as late as the early 70s we were still doing that.

 

[candycorn]

Ditto what Liability said.
And no, you are not "just asking."

So, by your non-response, I'm guessing he hasn't figured out a way to put out a fire yet. Well, it's only been like 11 months. I'm sure he'll get it licked sometime around 2014.

Incredible.

I hadnt realized "professional fire fighter" was a qualification for governor.
How long did it take Obama to plug the hole?

A lot less than 10 months.....LOL.

So do you think that a governor has no responsibility to put out wildfires in his State?

 

[The Rabbi]

So, by your non-response, I'm guessing he hasn't figured out a way to put out a fire yet. Well, it's only been like 11 months. I'm sure he'll get it licked sometime around 2014.

Incredible.

I hadnt realized "professional fire fighter" was a qualification for governor.
How long did it take Obama to plug the hole?

A lot less than 10 months.....LOL.

So do you think that a governor has no responsibility to put out wildfires in his State?

No, he doesn't. That would come under state department of land management.
Dont you know that the governor is not responsible for everything that occurs in his state?

 

[candycorn]

I hadnt realized "professional fire fighter" was a qualification for governor.
How long did it take Obama to plug the hole?

A lot less than 10 months.....LOL.

So do you think that a governor has no responsibility to put out wildfires in his State?

No, he doesn't. That would come under state department of land management.
Dont you know that the governor is not responsible for everything that occurs in his state?

So he's not responsible....

Then why did he leave the debate a few months ago? He had to rush back to Texas? Perhaps he doesn't understand what the Governor does?

Texas wildfires prompt Perry to stop campaigning, come home - San Antonio Express-News

So he has no responsibility in the matter but he ran from the debate....why?

 

[ScienceRocks]

 

[BOBO]

http://abcnews.go.com/blogs/politics/2011/10/ron-pauls-economic-plan-gets-his-rivals-talking/

...like Ron's TAX CUT IS BOTH LASTING & GENUINE!!!!!!!!!!!!!!!!

It's a laughable budget buster.

For starters, with bigger standard deductions, under Perry's plan, a family of four making 50,000

would pay ZERO in federal income tax.

Let's see how the 'skin in the game' crowd likes that.

 

[BOBO]

...government fat...

http://abcnews.go.com/blogs/politics/2011/10/ron-pauls-economic-plan-gets-his-rivals-talking/

Perry detailed his tax and economic plan in todays WSJ. It is an excellent plan. I am sure someone will find something to carp over, but really there is nothing. It is much stronger than Cain's 9-9-9 plan. And Perry was right when he said "Brother, I'll put my plan up against yours any day."
Rick Perry: My Tax and Spending Reform Plan - WSJ.com

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.

More at the source.
And I'll take odds some people responding will not have read the article.

The first and biggest problem with his plan is that he believes we can cap spending at 18% of GDP. Every economist out there knows that is an impossible number, unless we just go ahead and push through massive cuts to Medicare and SS, which is not going to happen. Because so few support drastic cuts to Medicare and Medicaid, we are going to have to increase revenue while cutting spending. We need some serious discussion as to what percentage of GDP we are going to find acceptable. What I can assure you is that it will be much higher than 18%. I imagine it will be somewhere between 22 and 25 percent. That still leaves us with a need to make substantial cuts as we are already very close to the 25%, and we still haven't seen the bulk of increases from SS and Medicare that are coming with the retirement of the Baby Boomers.

But I will say, any plan is better then that idiotic 9-9-9 plan that is meant to force the lowest income earners into paying the highest amount of taxes.

 

[The Rabbi]

A lot less than 10 months.....LOL.

So do you think that a governor has no responsibility to put out wildfires in his State?

No, he doesn't. That would come under state department of land management.
Dont you know that the governor is not responsible for everything that occurs in his state?

So he's not responsible....

Then why did he leave the debate a few months ago? He had to rush back to Texas? Perhaps he doesn't understand what the Governor does?

Texas wildfires prompt Perry to stop campaigning, come home - San Antonio Express-News

So he has no responsibility in the matter but he ran from the debate....why?

No one said he's not responsible.
Get your lies straight before posting again, Mary.

 

[candycorn]

No, he doesn't. That would come under state department of land management.
Dont you know that the governor is not responsible for everything that occurs in his state?

So he's not responsible....

Then why did he leave the debate a few months ago? He had to rush back to Texas? Perhaps he doesn't understand what the Governor does?

Texas wildfires prompt Perry to stop campaigning, come home - San Antonio Express-News

So he has no responsibility in the matter but he ran from the debate....why?

No one said he's not responsible.
Get your lies straight before posting again, Mary.

Okay now he IS responsible. They've been burning for 10 months plus now. Do you think they'll be out by Christmas?

 

[Chris]

Mr. Hitler, what was Herman Cain's tax plan again...


[ame=http://www.youtube.com/watch?v=InsspuvAmBs]Nein! - YouTube[/ame]