Campaign Buzz October 25, 2011: Republican Presidential Candidate Gov. Rick Perry Unveils his “Cut, Balance and Grow” Flat Tax plan

CAMPAIGN 2012

By Bonnie K. Goodman

Ms. Goodman is the Editor of History Musings. She has a BA in History & Art History & a Masters in Library and Information Studies from McGill University, and has done graduate work in history at Concordia University. Ms. Goodman has also contributed the overviews, and chronologies in History of American Presidential Elections, 1789-2008, 4th edition, edited by Gil Troy, Fred L. Israel, and Arthur Meier Schlesinger to be published by Facts on File, Inc. in late 2011.

CAMPAIGN BUZZ 2012

 

Gov. Rick Perry of Texas outlined his proposal for a 20 percent flat tax and deficit reduction plan at the ISO Poly Films factory in Gray Court, S.C. Tuesday.

Richard Ellis/Getty ImagesGov. Rick Perry of Texas outlined his proposal for a 20-percent flat tax and deficit reduction plan on Tuesday at the ISO Poly Films factory in Gray Court, S.C.

IN FOCUS: GOV. RICK PERRY UNVEILS HIS FLAT TAX PLAN

Republican presidential candidate Rick Perry officially announces flat tax plan: In Greenville, South Carolina, Texas governor and Republican presidential candidate Rick Perry formally unveiled his economic plan Tuesday. The proposal includes long-held conservative goals, including personal accounts for Social Security, an optional flat tax, major spending cuts and a series of tax cuts.
The plan would dramatically reduce taxes, particularly on wealthy Americans and corporations. It would reduce the corporate tax rate from 35 to 20 percent, eliminate taxes on dividends and many capital gains and essentially cap individual tax rates at 20 percent.

Full Text Campaign Buzz October 25, 2011: Republican Presidential Candidate Gov. Rick Perry Unveils in a Speech his “Cut, Balance and Grow” Flat Tax plan in South Carolina — Transcript

Campaign Buzz October 25, 2011: Republican Presidential Candidate Gov. Rick Perry Previews “Cut, Balance and Grow” Flat Tax plan — Wall Street Journal Op-ed

  • Perry calls for sweeping tax cuts, benefit changes: Republican presidential candidate Rick Perry proposed dramatic tax and spending changes Tuesday, saying he would let Americans choose between a 20 percent flat tax and the current system, allow private Social Security accounts and slash government spending and regulation.
    Perry, seeking to regain the momentum he enjoyed in late August, said his plan would significantly spur economic growth. But analysts from the left and right said he would need draconian federal budget cuts to avoid massive deficits.
    In a pitch to conservatives, the Texas governor said his “Cut, Balance and Grow” plan was bolder than what his Republican rivals or President Barack Obama would do. His proposal calls for gradually increasing eligibility ages for Social Security and Medicare and for amending the Constitution to require balanced budgets…. – AP, 10-25-11
  • Perry Plan Would Grant Big Tax Break to Wealthiest: The plan, which includes a new flat tax, would eliminate capital gains taxes, and lower the rate richest Americans pay…. – NYT, 10-25-11
  • Perry Offers Plan to ‘Save Social Security’: Rick Perry offered his most detailed response yet to criticism that he views Social Security as a Ponzi scheme and spelled out changes to the federal retirement program…. – NYT, 10-25-11
  • Rick Perry unveils tax plan in bid to jump-start campaign: Returning to South Carolina, a state key to reviving his presidential candidacy, Gov. Rick Perry unveiled what he said was a “bold” tax plan to revive the nation’s economy.
    The Texas governor, speaking at the warehouse of a specialty plastics company south of Greenville, proposed a flat tax plan that critics said would worsen the federal deficit.
    Perry’s plan includes an optional 20% flat tax for individuals and corporations. But he would allow anyone to remain with the current tax system, insuring that no one’s taxes would go up and threatening to cut federal revenue by hundreds of billions of dollars a year…. – LAT, 10-25-11
  • Perry Wants Flat Tax With Some Popular Deductions: Republican presidential candidate Rick Perry proposed a sweeping economic plan Tuesday that includes a flat tax proposal, private retirement accounts for Social Security, a lower corporate tax rate and reforms aimed at keeping Medicare…. – ABC News, 10-25-11
  • Rick Perry joins flat tax parade – a hot idea fresh from the 1860s: Rick Perry follows Herman Cain in proposing a flat tax. Ron Paul has endorsed the idea before, too. But the hot new idea among GOP presidential candidates is as old as the Civil War…. – CS Monitor, 10-25-11
  • Perry rolls out flat tax plan: Rick Perry, whose presidential campaign to date has largely focused on his accomplishments as Texas governor, expanded his scope Tuesday in South Carolina, where he formally unveiled a flat tax proposal designed to stimulate the economy and cut taxes…. – Politico, 10-25-11
  • Perry unveils flat-tax plan: Gov. Rick Perry this morning proposed a sweeping tax overhaul whose centerpiece is an optional, 20 percent flat tax on all income, plus a number of changes to Social Security and other entitlements…. – Austin American-Statesman, 10-25-11
  • Struggling Perry Proposes Flat Tax and Spending Plan: Gov. Rick Perry, struggling in the polls as he pursues the 2012 Republican presidential nomination, released a tax and spending reform plan today aimed at luring away business-minded voters from Mitt Romney and Tea Party…. – Texas Tribune, 10-25-11
  • Rick Perry lays out tax reform proposal calling for a 20% flat tax rate: Under Texas Gov. Rick Perry’s plan, taxpayers could pay the new 20% flat rate, or keep their current tax rate. Do you think Rick Perry’s flat tax proposal is a good solution for Americans? Republican hopeful Rick Perry laid out a tax plan…. – New York Daily News, 10-25-11
  • Perry Tax Cut Plan Offers Simplicity Layered Atop Complexity: Texas Governor Rick Perry’s flat-tax fiscal plan would provide broad tax cuts to households that embrace it while retaining the existing system’s complexity as a choice for others. The plan, announced today in a speech in South Carolina…. – San Francisco Chronicle, Bloomberg, 10-25-11
  • Rick Perry readies assault on Mitt Romney: The Rick Perry relaunch has finally arrived. After weeks battling questions about how he plans to salvage his listing presidential bid, the Texas governor has finally started spelling out an answer. It involves opening his $15 million campaign war chest, hitting Mitt Romney harder and moving to reclaim the role of the populist conservative outsider in the race.
    Perry will deliver a policy address Tuesday in South Carolina outlining his support for a national flat tax — a proposal that for the first time extends beyond his record in Texas. His campaign has reserved statewide television airtime in Iowa to start as early as this week…. – Politico, 10-25-11
  • Perry’s tax plan faces quick attack from Democrats: South Carolina Democrats today attacked GOP presidential candidate Rick Perry’s tax reform plan before his unveiling…. – Greenville News, 10-25-11
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