It seems that Rick Perry’s tax code has a few flaws.
He’s “cutting taxes” yet also increasing social security benefits?
No one is going to pay more yet he is keeping the current system AND allowing people to “choose” a different system? It seems like he is allowing people to admit that the system we have now has serious flaws yet instead of fixing those flaws he is going to offer another option along with our current option…
Perry is not pitching scrapping the tax code, he’s pitching a flat tax on top of our current tax code. Somehow, every time that the government attempts to offer two choices they end up merged and twisted together.
According to Fox News:
“Perry’s flat tax proposed would preserve key tax exemptions for families earning less than $500,000 a year and would increase the standard deduction to $12,500 for individuals. It would also eliminate the tax paid on the country’s largest estates when property owners die and eliminate taxes on Social Security benefits.
The plan calls to get rid of the Alternative Minimum Tax for families. It also includes several government-oriented items, like a Balanced Budget Amendment, a ban on earmarks and a cap on federal spending at 18 percent of gross domestic product. It aims to balance the budget by 2020.”
He’s going to balance the budget AND cook you a gourmet 7 course dinner!