Rick Perry's economic plan: Can he balance the budget?

[The Rabbi]

No. Of course not. It's a terrible plan.

Why?

Because it makes it tough for accountants and bureaucrats to keep their jobs.

 

[NYcarbineer]

Rick Perry has an economic plan. He wants the federal government to spend less money, and he wants huge tax cuts. Oh, and a balanced budget by 2020. Here's the rub: Perry's plan would drastically reduce the amount of money the government collects in taxes. Link to article

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Aw, the naysayers cast off the winning strategy with "Oh, and a balanced budget by 2020." Gee, a balanced budget would destroy Obama's spendthrift legacy. Awwwwwwwwww

Most GOP tax plans make the budget situation worse, and this one is no exception.

Has the budget been worse or better with Democrats in control of Congress?

Since the Democrats went along with extending GOP tax cuts and adding a few of their own, it's been worse.

Democrats never fare well when they act like Republicans.

 

[NYcarbineer]

No. Of course not. It's a terrible plan.

Why?

Because it will reduce revenues without reducing spending thus making the deficit even larger.

 

[rdean]

Screw the budget.

Where's the fucking jobs?

 

[LoneLaugher]

The history is that lower, simpler taxes and a more stable regulatory environment induce people to start or expand businesses and generate much more economic activity. I think the effects of Perry's plan are grossly underestimated.

Untrue.

 

[Toro]

No. Of course not. It's a terrible plan.

Why?

Because it makes it tough for accountants and bureaucrats to keep their jobs.

You're kidding, right? Do you have any idea what the practical implications of an "optional flat tax" - two different tax regimes - would be? This would be a boon to accountants and IRS bureaucrats! Every year, people would do their taxes both ways, then decide to pay the lower. The idea that it would decrease bureaucracy is a laughable fairy tale sold to a gullible base that still believes cutting income taxes raises revenues. lol If you're going to have a flat tax, have a fucking flat tax! I might even support it! But not this weird pick-whatever-tax-regime-you-want.

Anyways, Perry has been getting raked over the coals by some conservatives for his plan.

Rick Perry's Tax Plan Would Be A Disaster For America | Fox News

Rick Perry’s MAXTAX vs. Stephen Moore’s MAXTAX - By Reihan Salam - The Agenda - National Review Online

 

[Toro]

The history is that lower, simpler taxes and a more stable regulatory environment induce people to start or expand businesses and generate much more economic activity. I think the effects of Perry's plan are grossly underestimated.

Untrue.

The second sentence is untrue. The first is not.

Lower, simpler taxes and a stable regulatory environment is a much better environment for business than higher, more complicated taxes and an unstable regulatory environment.

 

[freedombecki]

Why?

Because it makes it tough for accountants and bureaucrats to keep their jobs.

You're kidding, right? Do you have any idea what the practical implications of an "optional flat tax" - two different tax regimes - would be? This would be a boon to accountants and IRS bureaucrats! Every year, people would do their taxes both ways, then decide to pay the lower. The idea that it would decrease bureaucracy is a laughable fairy tale sold to a gullible base that still believes cutting income taxes raises revenues. lol If you're going to have a flat tax, have a fucking flat tax! I might even support it! But not this weird pick-whatever-tax-regime-you-want.

Anyways, Perry has been getting raked over the coals by some conservatives for his plan.

Rick Perry's Tax Plan Would Be A Disaster For America | Fox News

Rick Perry’s MAXTAX vs. Stephen Moore’s MAXTAX - By Reihan Salam - The Agenda - National Review Online

Well, Toro, there are businesses that are very popular who run tv ads saying "We beat all competitor's rates."

What's so different about a government plan offering everyone to choose which rate they want--the high one or the low one?

Everybody will pick the low one.

As a tv adman would say, "Do you hear me now?"

Some people don't like others to have choices. Rick Perry gives you the choice.

If you want to hire more people, you take the lower rate and hire people with the savings.

If you want to be Lord Beneficent Foundation, you can feel good about giving more than you had to give when you're not condescending about all your brains, hot cars, hot chicks, super great stuff, etc.

See? There's a choice for everyone. Rick Perry is just reflecting the times, and it's about time you can get a bargain basement tax if you want one.

 

[freedombecki]

Screw the budget.

Where's the fucking jobs?

In Texas.

 

[Toro]

Because it makes it tough for accountants and bureaucrats to keep their jobs.

You're kidding, right? Do you have any idea what the practical implications of an "optional flat tax" - two different tax regimes - would be? This would be a boon to accountants and IRS bureaucrats! Every year, people would do their taxes both ways, then decide to pay the lower. The idea that it would decrease bureaucracy is a laughable fairy tale sold to a gullible base that still believes cutting income taxes raises revenues. lol If you're going to have a flat tax, have a fucking flat tax! I might even support it! But not this weird pick-whatever-tax-regime-you-want.

Anyways, Perry has been getting raked over the coals by some conservatives for his plan.

Rick Perry's Tax Plan Would Be A Disaster For America | Fox News

Rick Perry’s MAXTAX vs. Stephen Moore’s MAXTAX - By Reihan Salam - The Agenda - National Review Online

Well, Toro, there are businesses that are very popular who run tv ads saying "We beat all competitor's rates."

What's so different about a government plan offering everyone to choose which rate they want--the high one or the low one?

Everybody will pick the low one.

As a tv adman would say, "Do you hear me now?"

Some people don't like others to have choices. Rick Perry gives you the choice.

If you want to hire more people, you take the lower rate and hire people with the savings.

If you want to be Lord Beneficent Foundation, you can feel good about giving more than you had to give when you're not condescending about all your brains, hot cars, hot chicks, super great stuff, etc.

See? There's a choice for everyone. Rick Perry is just reflecting the times, and it's about time you can get a bargain basement tax if you want one.

Well, if choice is a good thing, then why not more than two choices? Why not 10 or 20 different tax regimes to choose from?

 

[Psychoblues]

In truth, the proposals of Gov. Rick Perry for American economics are only as sophisticated as farts during a sermon. Just ask about anyone in Texas.

Psychoblues

 

[freedombecki]

You're kidding, right? Do you have any idea what the practical implications of an "optional flat tax" - two different tax regimes - would be? This would be a boon to accountants and IRS bureaucrats! Every year, people would do their taxes both ways, then decide to pay the lower. The idea that it would decrease bureaucracy is a laughable fairy tale sold to a gullible base that still believes cutting income taxes raises revenues. lol If you're going to have a flat tax, have a fucking flat tax! I might even support it! But not this weird pick-whatever-tax-regime-you-want.

Anyways, Perry has been getting raked over the coals by some conservatives for his plan.

Rick Perry's Tax Plan Would Be A Disaster For America | Fox News

Rick Perry’s MAXTAX vs. Stephen Moore’s MAXTAX - By Reihan Salam - The Agenda - National Review Online

Well, Toro, there are businesses that are very popular who run tv ads saying "We beat all competitor's rates."

What's so different about a government plan offering everyone to choose which rate they want--the high one or the low one?

Everybody will pick the low one.

As a tv adman would say, "Do you hear me now?"

Some people don't like others to have choices. Rick Perry gives you the choice.

If you want to hire more people, you take the lower rate and hire people with the savings.

If you want to be Lord Beneficent Foundation, you can feel good about giving more than you had to give when you're not condescending about all your brains, hot cars, hot chicks, super great stuff, etc.

See? There's a choice for everyone. Rick Perry is just reflecting the times, and it's about time you can get a bargain basement tax if you want one.

Well, if choice is a good thing, then why not more than two choices? Why not 10 or 20 different tax regimes to choose from?

Why don't you write Governor Perry and tell him which ones work for you and why America would be a better place if he included them in his budget plan? You're a lot smarter about market issues than me, Mr. Toro. Governor Perry needs the best. I just make little quilts for wheelchair victims and the abuse center, do charity sewing, and admire bright people from many walks sharing their knowledge online here at USMB currently.

 

[freedombecki]

In truth, the proposals of Gov. Rick Perry for American economics are only as sophisticated as farts during a sermon. Just ask about anyone in Texas. Psychoblues

I am in Texas. Folks here like Gov. Perry just fine. He listens to good advice. Seems he does the best he can with what he is given.

And especially, he remembers veterans who made sacrifices for this country when others were too lazy to take off a couple of years and serve.

That's one reason why I support him. He reveres men and women who served.

 

[Inthemiddle]

Better yet, let's hear a quote from the link YOU PROVIDED:

Texas doesn't appear to be overextended. In a May report, Standard & Poor's gave the state an AA+ rating, citing its outperforming economy, strong cash management and constitutional limits on debt.

Thanks for providing, Inthemiddle.
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And the federal government has at least as good of a rating. Are you saying that we should go ahead and continue running deficits and expanding the debt? Perry is running on a platform to balance the budget and reduce the debt. His record clearly indicates he cannot do this, since his tenure in office has been one of deficits, reliance on federal stimulus money, and expanded debt.

 

[Inthemiddle]

Screw the budget.

Where's the fucking jobs?

In Texas.

Minimum wage jobs, filled by illegals drawn by Perry's free education for illegals plan.

 

[freedombecki]

Toro? Remember when I said, "Why don't you write Governor Perry and tell him which ones work for you and why America would be a better place if he included them in his budget plan?" Actually, I think it would be great if you could make a couple of suggestions here. You never know, it could turn the nation around when good market people speak their minds.

I think it would make a good discussion if The Rabbi, Trajan, Toro, and others joined in about what the best plan might be. Y'all guys (and some others around here) seem to be the good minds on economics.

I'd like to see what kind of ideas people think would help the American economy.

Because when we boom, the rest of the world cheers up and do good, too.

 

[freedombecki]

Screw the budget.

Where's the fucking jobs?

In Texas.

Minimum wage jobs, filled by illegals drawn by Perry's free education for illegals plan.

Sorry, Inthemiddle. A drive through the Woodlands north of Houston and in areas between Dallas and Ft. Worth would tell you there's a lot of jobs here, and by the fabulous homes and yards, they're paid well.

There really are a lot of good jobs here. I pass their homes every week.

 

[Inthemiddle]

I am in Texas. Folks here like Gov. Perry just fine.

I've lived in Texas for most of Perry's tenure in office, and I know that there are a great many people who don't like Perry. The toll roads and HPV vaccine debacles are good examples of how Perry's corruption is disliked. The fact that even his own party has produced challenges to him in the primaries is also telling. How many Govs in modern times draw opposition from 3 major candidates in a single general election (Well, two and a half since Chris Bell was more like a token challenger)?

He listens to good advice. Seems he does the best he can with what he is given.

He's given the state on a silver platter. The state GOP's gerrymandering over the past decade has ensured Perry a solidly GOP legislature. He has no excuses.

That's one reason why I support him. He reveres men and women who served.

This is about the only positive quality the man has. But this alone is far from enough.

 

[Inthemiddle]

Sorry, Inthemiddle. A drive through the Woodlands north of Houston and in areas between Dallas and Ft. Worth would tell you there's a lot of jobs here, and by the fabulous homes and yards, they're paid well.

There really are a lot of good jobs here. I pass their homes every week.

So a drive through one of the wealthiest parts of the state shows that there are alot of good paying jobs in the whole state? Give me a break. I don't think you've seen a whole lot of Texas. Truth is that while Perry brags about what is in fact mediocre job growth in Texas during his tenure, those modest job increases have been minimum wage jobs, mostly filled by illegal labor. This is a fact that not even Perry disputes.

 

[The Rabbi]

In truth, the proposals of Gov. Rick Perry for American economics are only as sophisticated as farts during a sermon. Just ask about anyone in Texas. Psychoblues

I am in Texas. Folks here like Gov. Perry just fine. He listens to good advice. Seems he does the best he can with what he is given.

And especially, he remembers veterans who made sacrifices for this country when others were too lazy to take off a couple of years and serve.

That's one reason why I support him. He reveres men and women who served.

They liked him enough to elect him again and again.
The choice of plans seems purely political, which is a good thing because it indicates that Perry knows you can propose anything but it takes work to pass something.