The Texas governor is hoping his “Cut, Balance and Grow” plan will help jump-start his fading presidential campaign. He’s now trailing four other contenders for the 2012 Republican nomination in a new CBS/New York Times poll. He stands at 6 percent, Herman Cain is leading the pack with 25 percent and Mitt Romney is in second place with 21 percent.
Hint: There's a lot of choice involved.
"The sales tax may be hard to swallow."
With tax reform at the forefront of GOP debate, economist Dan Mitchell explains the basics of how a 'flat tax' would function.
Both Perry and Cain include 100 percent cash expensing for new-business investment. Both Cain and Perry would eliminate the double tax on capital gains and other investments, as well as the double tax on the foreign earnings of U.S. companies.
Some exciting developments in the Republican presidential race are being ignored by the media. We believe Americans will be excited when they understand the revolutionary nature of these candidate's proposals.
Rep. Paul Ryan gives the plan a thumbs-up. Supply-side mentor Art Laffer tells me it would be "far, far better than the current system." And Chris Chocola, president of the free-market Club for Growth, calls it "a truly revolutionary tax reform that would amount to a massive job-creating tax cut on investments, savings and income."
At a time when the American left is beating its war drums to raise taxes on "the rich", Herman Cain wants to slash their income tax rates to 9 percent.
Last week, Newt Gingrich released his 21st Century Contract with America, composed of 10 specific legislative proposals he would enact if elected President. In the 1994 Congressional campaigns, Republicans not only rode Newt's Contract with America proposals to Republican majorities in Congress. They maintained their House majority for 12 years, after Republicans had only held a House majority for 2 of the previous 74 years.
America’s media is obsessed with every tick of every poll. The reason they cover polls is because they don’t want to cover ideas. Republicans should resist being sucked into this reality show mentality and focus instead on the candidate’s ideas.
Remember stop, look and listen before you cross the street? Follow this cautionary tale before you swallow the balanced budget language of Presidential candidate and former Governor of New Mexico Gary Johnson and the 9-9-9 tax system of former CEO Herman Cain. Simple slogans can be dangerous.
Ah yes, the Obama campaign team is hard at work. Occupy Wall Street would like a totalitarian government and an Obama reelection or retention by other means. That fits nicely with the Roseanne Barr statement about guillotines and re-education camps. This must be the new tone.
What if you were in charge of reforming the U.S. individual income tax? Would you consider ditching today's excessively complex tax code in favor of something much, much simpler? Something like a flat income tax, perhaps?
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