What's a flat tax?
October 24th, 2011
11:01 AM ET
2 years ago

What's a flat tax?

NEW YORK (CNNMoney) - Step aside 9-9-9. A new flat tax proposal is coming to town.

On Tuesday, Republican presidential candidate Rick Perry will propose an economic growth package that includes a flat tax.

FULL STORY

Filed under: 2012 • Rick Perry • Taxes
soundoff (12 Responses)
  1. PA_outof work

    The Flat Tax is another way for both parties to get their hands in our pockets.

    It’s time for spending limits, stop the government from taking our money.

    October 24, 2011 11:20 am at 11:20 am |
  2. Democrat Class Warfare - Destroying the economy, destroying the country

    No, no, no... Obama says the way to prosperity is to demonize success, penalize it, tax it, destroy it, for it is evil and it is greed. The One says only the government can save us with more and more taxes and government entitlement programs. Every one shall get a free ride to utter poverty and despair just as they had in the old Soviet Union. Well, except the ones running the government who live high off the hog while the rest starve. Yes, it is a glorious future our Dear Leader has in store for us all. Come comrades, march with us and "progress" towards utopia where all are equal in misery.

    October 24, 2011 11:23 am at 11:23 am |
  3. Wire Palladin, S. F.

    The flat tax is a ponzi scheme to get the poor and the middle class to pay for more tax cuts to the wealthy.

    October 24, 2011 11:28 am at 11:28 am |
  4. Corporations R. People II

    Answer: A way for the class warfare waged by the rich against everyone else to continue under a GOP rouge....

    October 24, 2011 11:42 am at 11:42 am |
  5. rs

    A flat tax is a way to give the rich even more tax breaks, further degrade the economy (esp. the so-called 999 plan), and to raises taxes on those who can afford it least- the middle class and poor. ergo, it is bound to be loved by the GOP/TP.

    October 24, 2011 11:44 am at 11:44 am |
  6. Democrat Class Warfare - Destroying the economy, destroying the country

    The flat tax is a ponzi scheme to get the poor and the middle class to pay for more tax cuts to the wealthy.
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    It is a tax system designed to get everybody to pay SOME taxes instead of the current nightmare that exempts a majority of people and forces higher rates on the minority in order to redistribute their hard earned money to others in the form of government entitlements. More and more on the goverment dole, fewer and fewer paying has been the trend. Success is penalized and taxed to discourage it. Eventually the govermment will be confiscating 70,80,90,100% of a persons income in order to give it to others. Like everything else the Democrats create, it is an unsustainable disaster.

    October 24, 2011 11:55 am at 11:55 am |
  7. diridi

    I will define. Flat tax is a tax that is levied to Rich to pay less and poor to pay more. Ultimately it bankrupts. o.k, Lot of anarchism prevail...true.

    October 24, 2011 11:56 am at 11:56 am |
  8. Paul1st

    Let's cut to the chase. We have a lot accumulated debt that needs to be paid off. We need to take steps to slow and then reverse the accumulation of additional debt. This is what we all refer to as "cutting spending". We need to take steps to increase revenue. This is what we all refer to as "increasing taxes". We need to decide that balance will we accept between both needs so that we start paying off the debt. All candidates should address the big picture and put forward a comprehensive plan that says "I will cut spending by $x... trillion by cutting this, this, this...." and "I will increase taxes by $x... trillion on these taxpayers, these taxpayers, these taxpayers..." Anything less allows for too much political maneuvering and doublespeak to be an honest commitment to an honest course of action.

    October 24, 2011 12:01 pm at 12:01 pm |
  9. Fair is Fair

    In addition to a flat tax, I think that withholding should be completely eliminated. Make EVERYONE file quarterly. Then, perhaps once people have to write that big fat check to the federal government every 3 months, they'll get it through theit thick skulls that, contrary to what they've become accustomed to, there really is no such thing as a free lunch.

    October 24, 2011 12:14 pm at 12:14 pm |
  10. Dazed and Confused

    @Wire – grow up. Everyone needs to put forth something for the Gov't coffers. Be it 5cents, or 50,000 dollars.

    October 24, 2011 12:17 pm at 12:17 pm |
  11. james Miller

    THINK PEOPLE !!!!! -– Ever wonder why the rich folks love flat taxes !!!!!! They will pay NO income tax on their capital gains, dividends or interest on money which the "old money" live on.

    October 24, 2011 12:25 pm at 12:25 pm |
  12. Dazed and Confused

    "A flat tax is a way to give the rich even more tax breaks"

    A flat tax is fewer tax breaks. No more loop holes for special interests, rich or poor. Make these politicians in DC work for their money instead of buying votes. If every citizen one has some skin in the game, then their will be more pressure on Government to become more efficient. Maybe the poor and the rich will actually see eye to eye and unite for a change.

    Cains national sales tax also has some merit. Travel outside the US and in almost every country, you are helping to lessen the tax burdern on their citizens with every purchase. Why can't the US do the same ?

    October 24, 2011 12:26 pm at 12:26 pm |