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Old 10-24-2011, 09:36 PM
 
Location: High Cotton
6,131 posts, read 6,800,044 times
Reputation: 3657

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Optional 20% Flat Tax - No Tax On SS Benefits, Capital Gains or Dividends & Eliminate Estate/Death Tax (http://politicalticker.blogs.cnn.com/2011/10/24/perry-to-propose-20-optional-flat-tax/ - broken link)

“The Perry plan starts with giving Americans a choice between a new, flat tax rate of 20% or their current income tax rate. The Perry plan would also eliminate the estate tax, commonly referred to by Republicans as the “death tax.” Perry also plans to eliminate taxes on long-term capital gains and qualified dividends, as well as taxes on Social Security benefits.
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Old 10-24-2011, 09:49 PM
 
Location: Los Angeles area
14,017 posts, read 18,934,403 times
Reputation: 32439
All of the above would help the well-off. Just to keep this brief, let's consider Social Security. Right now people who depend mostly on Social Security already do not pay any taxes on it. Who is he kidding? Only the fairly comfortable get taxed on their Soc. Sec. How much do the working poor bring in in capital gains or dividends? And why should the rich get a pass on that class of income? Income is income. I'm not even all that much of a populist, but the Perry plan makes me want to puke.
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Old 10-24-2011, 09:52 PM
 
Location: High Cotton
6,131 posts, read 6,800,044 times
Reputation: 3657
Quote:
Originally Posted by Escort Rider View Post
All of the above would help the well-off. Just to keep this brief, let's consider Social Security. Right now people who depend mostly on Social Security already do not pay any taxes on it. Who is he kidding? Only the fairly comfortable get taxed on their Soc. Sec. How much do the working poor bring in in capital gains or dividends? And why should the rich get a pass on that class of income? Income is income. I'm not even all that much of a populist, but the Perry plan makes me want to puke.
I like it!
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Old 10-24-2011, 10:28 PM
 
Location: Prescott Valley,az summer/east valley Az winter
2,054 posts, read 3,789,383 times
Reputation: 8095
Another GOP dredging up the Gov. Brown of California tax proposal from long ago. Reserrected by Forbes 4 years later and several times since....Guess the tea partiers like old Democratic ideas.
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Old 10-25-2011, 05:51 AM
 
Location: SW MO
23,599 posts, read 33,402,523 times
Reputation: 29204
It would cost us in retirement. We'll pass!
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Old 10-25-2011, 06:21 AM
 
Location: Newport, NC
956 posts, read 3,769,955 times
Reputation: 708
Quote:
Originally Posted by Escort Rider View Post
All of the above would help the well-off. Just to keep this brief, let's consider Social Security. Right now people who depend mostly on Social Security already do not pay any taxes on it. Who is he kidding? Only the fairly comfortable get taxed on their Soc. Sec. How much do the working poor bring in in capital gains or dividends? And why should the rich get a pass on that class of income? Income is income. I'm not even all that much of a populist, but the Perry plan makes me want to puke.

I agree. Perry has some terrible ideas ( and I normally vote Republican). I can only hope they come up with a more viable candidate.
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Old 10-25-2011, 08:19 AM
 
Location: The Triad (NC)
31,413 posts, read 70,056,849 times
Reputation: 37510
Quote:
Originally Posted by Rtom45 View Post
Perry has some terrible ideas (and I normally vote Republican).
I can only hope they come up with a more viable candidate.
They have; but no one pays him any attention.
The only R who has a chance in **the general** is Huntsman.

I'm disappointed that he is now talking far too right on some of the social issues for my taste...
but (with the R Nomination) if he can/will again temper the language and rhetoric...
he could draw enough of the center over to the R's to win.

But it appears that the rabid social conservatives that have taken over the GOP
since Reagan opened that door and especially since the tea party wacko's have shown up...
just won't let that happen.

hth
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Old 10-25-2011, 08:49 AM
 
Location: Sierra Vista, AZ
16,650 posts, read 22,064,100 times
Reputation: 8899
How about we just let the Bush Tax cuts expire and put in a 5 cent tax on each share of stock traded until the deficit is paid off.
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Old 10-25-2011, 08:58 AM
 
Location: High Cotton
6,131 posts, read 6,800,044 times
Reputation: 3657
A Solid B+
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Old 10-25-2011, 09:45 AM
 
Location: The Triad (NC)
31,413 posts, read 70,056,849 times
Reputation: 37510
Quote:
Originally Posted by Boompa View Post
How about we just let the Bush Tax cuts expire...
Sure...
and get the AMT, the FICA contribution, and the Estate tax thresholds ...
adjusted to levels close to where they were intended to be too.

Quote:
5 cent tax on each share of stock traded...
I've seen some crazy high numbers using this sort of model.
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