Perry proposes flat-tax ahead of economy speech
October 19th, 2011
03:39 PM ET
2 years ago

Perry proposes flat-tax ahead of economy speech

(CNN) - Rick Perry gave a preview of his tax plan to the Western Leadership Conference in Las Vegas Wednesday ahead of its official unveiling next week.

Perry said his plan will center on a complete overhaul of the tax code - a move he says will create jobs and jumpstart economic growth.

"It starts with scrapping the three million words of the current tax code, and starting over with something much simpler: a flat tax," Perry said.

In his remarks, Perry took a dig a Treasury Secretary Tim Geithner, who came under fire in 2009 for failing to pay self-employment taxes while working for the International Monetary Fund.

"I want to make the tax code so simple that even Timothy Geithner can file his taxes on time," Perry said.

Perry's speech did not elaborate on the specifics of the proposed flat tax, leaving that instead to his speech next week in South Carolina.

But he did offer some broad strokes about other elements of his plan, including an initiative to increase American energy production, and cutting down on Congressional earmarks.

"But let me be even more clear: my plan ends earmarks for good," Perry said. "It's time to bring tough medicine to Washington. No longer will policy be set by K Street, it will be dictated by Main Street."

Perry also touched on a notion that has been popular on the GOP campaign trail: cutting back on government regulations.

"We will reverse course on the heavy hand of regulation, discarding Dodd-Frank and any other regulations that advance a political agenda at the expense of jobs and investment on Main Street," Perry said. "It is time to let America be America again. To return freedom to the people. To stand on our founding principles and reject the cynical politics of the Nanny State."


Filed under: 2012 • Rick Perry
soundoff (23 Responses)
  1. a in austin

    This announcement was approved by the koch brothers – Perry is not about Main Street!

    October 19, 2011 03:46 pm at 3:46 pm |
  2. DumbasRocks [R]s

    A FLAT tax for the FLAT heads that align closely with the FLAT earthers.

    October 19, 2011 03:51 pm at 3:51 pm |
  3. James

    Words

    Perry simply seems to be putting catchy words together, but you bet he can't even explain himself when it comes under scrutiny. This is so, because he isn't known as a good 'explainer' of ideas he crafted, even when they make some sense.

    I firmly believe that Perry can't be ready for president until he actually does some crash course in public speaking and debating.

    Just words just won't work.

    October 19, 2011 03:53 pm at 3:53 pm |
  4. Wes B.

    Why do Republicans want to end regulations? Have they already forgotten that lack of regulation is what got us into this economic mess IN THE FIRST PLACE!?!?!?!

    October 19, 2011 03:57 pm at 3:57 pm |
  5. Al-NY,NY

    Apprarently this moron missed the conservative group report that noted that regulatory rules caused only a minor reduction in jobs...not that an important fact like that would get in his (or any of the other righties) way of lying to the american people. Of course the knuckle-dragging, drooling sheep will lap it up like a corn-dog at a western BBQ. It's even more important for him to spread this falsehood, since his state and the oil barons that are lining his pockets constantly would benefit from the deregulation and the pumping of oil as they please. Your time is up Perry. Say good-night. You couldn't even beat Obama if the election was held today you are so lost

    October 19, 2011 04:00 pm at 4:00 pm |
  6. GonzoinHouston

    You can slice it and dice it like a mortgage-backed security, but a flat tax always means that the rich pay less and the middle class pays more. That's why this thing keeps coming up in Republican circles.

    October 19, 2011 04:04 pm at 4:04 pm |
  7. Scott S.

    Flat tax is another one of those ideas that sound terrific until you actually sit down and think about it. That's what I did, and I realized that 30% of one person's income makes a larger impact on them than 30% of another person's. People don't do enough questioning of people's ideas. If the explanation is simple enough, people go for it.

    October 19, 2011 04:04 pm at 4:04 pm |
  8. mk1

    A dream come true for the top 1% and a nightmare for the other 99%. Just what the wealthy ordered and the cons come through big time.

    October 19, 2011 04:08 pm at 4:08 pm |
  9. Mikey

    Well it can't be any worse than the 9-9-9 plan. Perhaps this one will be called to FU2 plan. I have yet to see a flat tax proposal that did not entail a massive shifting of the tax burdon from the rich to the middle class and/or poor.

    With the 999 plan, just wait until you buy a car. If you live in a state with an 8+% state sales tax, you could be looking at $5,000 to $8,000 in taxes on the purchase. Either you are making a huge down payment or the lender is accepting an underwater loan position right out of the gate. Banks will want higher interest rates to compensate for the increased risk. You get hosed both ways.

    October 19, 2011 04:08 pm at 4:08 pm |
  10. Sniffit

    Awesome. Nothing could be better: yet another ideologue moron GOPer/Teatroll proposing a regressive tax structure that would shift burden away from the wealthy and onto the middle-class and poor. Can't wait for the CBO, Tax Policy Center, Brookings or other non-partisan group of experts to release their study showing that Parry just proposed a REGRESSIVE tax system that amounts to telling the middle-class and poor to go eff themselves and to pony up more of their dough for the wealthy.

    You won't hear about it from CNN, to be sure, but the Tax Policy Center just released a study that shows Cain's 9-9-9 plan would INCREASE the taxes on the vast majoriy of Americans and REDUCE taxes on those making $200,000 per year or more...so much so that people making $1,000,000 per year would see their current share of the federal tax burden REDUCED BY 174%. Yes, 174%. LOOK IT UP. THE NUMBERS DON'T LIE. THEY WANT THE USA TO BE A THIRD WORLD LABOR SUPPLY.

    SHOW THEM NO QUARTER.

    October 19, 2011 04:10 pm at 4:10 pm |
  11. scott

    I keep saying that it is both sides to blame for the state of the country we need to repeal citizens united to help get money out of washington corporations are not people at all also term limits for all of congress whether or not those people in office are good at what they are trying to do or not two term limit would also help keep money out of washington because both sides are taking money from corporate america not just one or the other anyone says different is not being truthfull with themselves occupy wallstreet needs to go as far as they can with it and more if possible enough is enough and the public is not ready to take anymore from the corupt part of corporate america they took enough from us allready time to stop and stop corupt corporate greed so instead of the 1% running the show all of the american public can have a say so in running the show.

    October 19, 2011 04:13 pm at 4:13 pm |
  12. Democrat Class Warfare - Destroying the economy, destroying the country

    The Obama administration and the Congressional Democrats have created the most hostile environment for business that this country has ever seen. How many businesses have they demonized, attacked, over taxed, over regulated, hauled into hearings, threatened, bludgeoned, taken over, destroyed? And then they wonder where the jobs are????

    Completely clueless buffoons. College educated DONKEYS with no real world experience, but of course, think they know it all because they read it in a book once.

    October 19, 2011 04:13 pm at 4:13 pm |
  13. Rudy NYC

    from the article:
    "We will reverse course on the heavy hand of regulation, discarding Dodd-Frank and any other regulations that advance a political agenda at the expense of jobs and investment on Main Street," Perry said.
    ---------------–
    First of all, no significant parts of Dodd-Frank or the Affordable Care Act have taken effect, and are not due to take effect for almost two years. To continue to promote the idea that either piece of legislation has retarded job creation is being entirely dishonest.

    As for ending earmarks, that is a bad idea. The problem with earmarks is that they have turned into the occasional mechanism to funnel funding to pet projects in representative's districts. We have earmarks for a reason. I will use the recent example of Gov. Christie, R-NJ, as to why we have them.

    Christie received several hundred million dollars from the federal government *earmarked* for the final phase of a high speed rail project. Christie declared the project was *going to* run over budget and he didn't want NJ taxpayers to have to make up the difference. (The project had been on budget for years.) Instead, Christie took the money and granted a tax cut for the wealthy and corporations, after the NJ portion of the *multi-state* federal project. Because the federal funds were not used as designated by the earmark, New Jersey suddenly found itself with a billion dollar budget hole when the federal government demanded the money be returned with compensation.

    Without an earmark, the government could have never demanded to be re-imbursed because Christie could claim the "states rights" argument. Getting rid of earmarks would open up federal dollars intended for a specific use to be diverted to whatever the state governer or state legislature desire.

    October 19, 2011 04:14 pm at 4:14 pm |
  14. GOP = Greed Over People

    Doing away with "earmarks"?

    Someone needs to remind this Perry moron, he is running for President, not to be a member of Congress.

    October 19, 2011 04:19 pm at 4:19 pm |
  15. thomas

    A flat tax and a consumption tax is a good idea !

    However Perry will get us in another war before that ever happens.

    It's just a scam , Perry has no intention of accomplishing !.

    October 19, 2011 04:19 pm at 4:19 pm |
  16. Joe

    If the Obama Administration has caused "the most hostile environment for business that this country has ever seen" why are corporate profits at record levels? Why do corporations have record levels of cash on their balance sheets? Why is the stock market up over 50% since Obama took office? Sounds like business has done just fine with Obama!

    October 19, 2011 04:28 pm at 4:28 pm |
  17. iTALIAN NONNO

    i think i know where the word "con" came from,.. from Conservative,.. and this guy Perry is the poster boy for con artists.

    October 19, 2011 04:29 pm at 4:29 pm |
  18. al in memphis

    @ Democrat Class Warfare – Destroying the economy, destroying the country

    With such strong words, I was looking to see whether you actually did some research. My clue that your rant was nothing more than a Limbaugh impression was when I didn't see facts, number or specific reference to industry. Since business fail everyday for whatever reason, your comments could have applied to every previous presidents administration.
    Why don't we bring back the good olde days that lead to the bailouts of banks, and remember the good old savings and loan crisis during Reagen years.
    The jobs are overseas because it's been easy for business to take them their and sell their goods back here. That because everyone has got the short sight greed bug– both labor and corporate. Stop blaming Obama because government has facilitated greedy practices over the last 20 years.
    BTW, why don't you spend a month researching what the jobs impact would have been if the auto industry would have been allowed to fail– you might switch for Tea Party to an Independent.

    October 19, 2011 04:40 pm at 4:40 pm |
  19. Stacey

    Well it can't be any worse than the 9-9-9 plan. Perhaps this one will be called to FU2 plan. I have yet to see a flat tax proposal that did not entail a massive shifting of the tax burdon from the rich to the middle class and/or poor.

    ---------------------
    LOL! The FU2 plan! Priceless!

    October 19, 2011 04:43 pm at 4:43 pm |
  20. Marcus

    Sniffit – Yes the numbers don't lie. There's no error nor mistake in any of the calculus and analysis made/taken in order to reach them...
    But does that means that Cain, Perry and the guys that always find a way to blame the POTUS when something goes wrong, or deny him the credit when something goes right, will stop showing THEIR numbers (based on the famous equation '2 + 2 = 22') as the real deal.
    I am not an expert in economics, but I can do math fairly well (and when I can't I have no problem in seeking help), and the numbers from most of GOPers ideas don't match with themselves IF we use common simple and honest math, instead of whatever is used to get to them by the GOPers...

    October 19, 2011 04:43 pm at 4:43 pm |
  21. al in memphis

    @ Rudy NYC - Good analysis, you earned your voter's card.

    Now could you help Democrat Class Warfare – Destroying the economy, destroying the country understand the difference between ranting and rationale thinking.

    October 19, 2011 04:46 pm at 4:46 pm |
  22. Wire Palladin, S. F.

    Spoken like a true moron, Rick. Please go back to making Texas a third world country, and leave government up to adults like President Obama.

    October 19, 2011 04:54 pm at 4:54 pm |
  23. Independent Voter

    Can someone here answer the following question in 20 words or less
    Why is it wrong to ask all Americans to share the pain of funding the government ?

    October 19, 2011 05:02 pm at 5:02 pm |