GOP presidential candidate Rick Perry has announced his
bogus bold economic plan for America’s future: a flat tax that makes the rich even richer, and the poorest in the nation get screwed even more than we imagined possible. Not only does the Republican Texas governor now openly embrace birtherism — because Donald Trump told him it was so — but Perry is openly embracing an economic plan that could only have been drafted by Wall Street and corporate fat-cats.
Highlights of the plan:
- Optional flat tax of 20% (creates two possible tax structures: one for the wealthy and one for everyone else). The flat tax would effectively lower the tax rate for the wealthy, raise it on middle-income Americans, and put increased burden on lower income Americans.
- Lowers the already historic low corporate tax rate down to 20%
- Eliminates restrictions, etc. on corporate profits made offshore, providing an incentive for corporations to continue sending jobs and work to foreign countries for greater profit…tax free!
- His plan would allow younger workers to “opt out” of paying into Social Security, which would in effect kill the basic principle and foundation of the program: shared investment by all for shared benefit. This fits with Perry’s earlier claims that Social Security was a “ponzi scheme.” He aims to dismantle the program.
- Would gradually raise the eligibility age for Medicare and base benefits on income levels. The more money you made during your life, the more coverage you get.
Perry announced the plan, saying, “This is a change election and I will change the way Washington does business.”
I find it prophetic that he would include “Washington” and “business” together in describing this warped and self-serving financial plan.
The White House fired back in response to Perry’s announcement, saying, ”Governor Perry and Governor Romney’s tax plans are guided by the same principle: they would shift a greater share of taxes away from large corporations and the wealthiest onto the backs of the middle class.”
WATCH Perry ‘defend’ his plan: