Perry's new "optional 20% flat tax"

  • Posted by a hidden member.
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    Oct 25, 2011 1:35 PM GMT
    How come you crazy conservatives havent been all over this like flies to shit?


    Perry's a joke........
    God only wants 10% and perry wants more? Yikes.. "optional" (which include all the deductibles.. yikes!
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    Oct 25, 2011 6:36 PM GMT
    He wants to keep the old complicated system (with the deductions intact) as well, with 1 change: he adds his Alternative Minimum Tax, except you pay the LESSER of the two.

    People in the lower brackets (10% and 15%) would obviously not choose to pay 20%. So this flat tax is for those earning more than $32551 (single filer). But for those with current tax brackets of 33% and 35%, it's a bonanza (compared to those with tax brackets of 25%)

    Plus he wants to exempt all taxes for investment income.

    What's not to like for rich people?
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    Oct 25, 2011 6:39 PM GMT
    q1w2e3 saidHe wants to keep the old complicated system (with the deductions intact) as well, with 1 change: he adds his Alternative Minimum Tax, except you pay the LESSER of the two.

    People in the lower brackets (10% and 15%) would obviously not choose to pay 20%. So this flat tax is for those earning more than $32551 (single filer). But for those with current tax brackets of 33% and 35%, it's a bonanza (compared to those with tax brackets of 25%)

    Plus he wants to exempt all taxes investment income.

    What's not to like for rich people?


    Good plan! I haven't looked at it real carefully yet, but so far, good.