National Journal reports that presidential candidate Rick Perry will make good on his promise from the Las Vegas debate, and unveil a Flat Tax proposal next week. “I’ll bump plans with you, brother,” Perry memorably told rival candidate and 999 Plan godfather Herman Cain, “and we’ll see who has the best idea about how you get this country working again.”
Let the tax reform bumping begin!
The Republican presidential hopeful previewed his economic plan for the country at the Western Republican Leadership Conference in Las Vegas, but offered few details. He said he would unveil a proposal next week calling for creation of a flat tax, which would replace the present system of graduated tax rates based on income with a single rate for all taxpayers, regardless of income.
Perry told an audience of about 150 Republicans that his plan would also include a ban on congressional earmarks, passage of a balanced-budget amendment to the Constitution, spending cuts, and entitlement reform. He plans to unveil details in a speech on Tuesday in South Carolina.
“A change election requires a new direction, and not more of the same,” Perry said. “And I come by my conservatism very authentically, not by convenience. I offer the American people a new direction. My economic plan is rooted in what has worked in my home state.”
He said he would scrap “the current 3 million words of the American tax code” and replace it with “something simple: a flat tax.”
“I want to make the tax code so simple that even [Treasury Secretary] Timothy Geithner can file his taxes on time,” Perry said.
Geithner infamously failed to pay his taxes properly for several years, blaming the error on the popular Turbo Tax computer program, which he claims did not ask him for his 1099 and W2 forms. The authors of Turbo Tax, and its millions of users, vigorously dispute Geithner’s claims. As Rick Perry has demonstrated, pretending to take him seriously can be fun, and very useful for tax reformers.
Perry also vowed to “barnstorm the country” on behalf of a balanced-budget amendment. If he combines that with a serious and well-researched Flat Tax proposal, his campaign might just lift off from the alien-infested wilderness of Mitt Romney’s front lawn.