Rick Perry Hopes Flat Tax Offsets Flat Performance
Republican candidate Herman Cain has soared in the polls due to his easy affable manner, winning smile, positive nature and largely on the strength of his 999 tax plan, which includes a 9 percent flat income tax, as well as a flat 9 percent corporate tax and adds a 9 percent national sales tax. Well, one new tax plan deserves another, right? Cue candidate Rick Perry. Perry was talking economy policy yesterday, saying that he wants to get rid of America's current tax laws and replace them with a flat tax, which applies the same tax rate to every level of income. Perry told the Western Republican Leadership Conference he plans to explain the proposal when he unveils his economic plan next week. Flat tax critics say that it's a more regressive system that would give big tax breaks to the wealthiest Americans while making low- and middle-income families pay more.