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Thursday, October 27, 2011

Questions About Perry's Flat Tax

Well I am reading and trying to digest Rick Perry's flat tax proposal. Now let me see, I can choose a flat rate of 20 percent or I can stick with what I have going on right now. I'm trying to compare this to my friend Herman's plan.

Now as I see it, I already pay 15 percent of my income in FICA and Medicare taxes. Herman says with his plan, all this would go away and I would be locked in at 9 percent FLAT. Now I am trying to understand about Rick's 20 percent deal. Does this do away with and replace FICA and Medicare tax? Or is this 20 percent strictly my flat rate on withholding taxes after FICA and Medicare? I don't hear the words "eliminate FICA and Medicare" as I do with Herman's plan. Seems like Herman's plan is the better deal to me but I'm still trying to be open minded here.

Why is Perry's plan OPTIONAL? If it's good enough for some, it ought to be good enough fo all. Oh yeah, I forgot. It gives Rick a political out. Anytime someone criticizes it he can say, "Don't worry, it's optional." Kinda like the HPV vaccine......sigh....

Now old Herman is waffling a bit under fire from his opponents and the media. I heard notions about a 9-0-9 plan. Don't do it Herman. Everyone should pay tax. Everyone should have skin in the game. I am hoping that most of Herman's shakiness is due to political inexperience. I hope he will be strong and firm up his message.

I gotta wonder why Perry waited so late to present this flat tax? Makes me think this is more of a political ploy than a heartfelt idea. Herman's numbers look good with a tax plan so Rick though he needed one too. I can't help but think if Perry had come out with this and guns blazing on the front end that he would be standing a lot better right now.

On the other hand, you can tell that Cain's plan has come from his heart. He had been working on this long before he was a candidate. It is a good idea. All you have to see is how the left, the media, and the establishment Republicans are railing against it.

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