Steve Forbes is excited about Rick Perry's flat tax plan

[quinnox]

Steve Forbes, whose flat tax plan helped make him an unlikely contender for the Republican presidential nomination 15 years ago, is praising a new version of the idea from Rick Perry. And Forbes, who says he helped devise Perry's plan, left little doubt that he'll formally back the Texas governor before long.

In an interview with Yahoo News, Forbes called Perry's proposal, announced in a speech Wednesday, "the most exciting tax plan since Reagan's," in 1980. Perry's camp has said he'll release details of the plan in the coming weeks.

In a flat tax system, everyone pays the same rate, although some amount of income may be exempted from the tax. In Forbes's 1996 plan, the rate was 17 percent, but he said that Perry's preferred rate would likely be different. "It'll be a low rate," Forbes said.

Forbes hasn't officially said that he's backing any candidate, but he left little doubt that he'll formally get behind Perry soon. He said he would announce his support for one candidate soon, "and I don't think it'll surprise anyone."

Many on the left argue that a flat tax would increase the tax burden on the poor, while easing the load on wealthier Americans. Forbes dismissed those concerns.

"It's gonna be good for all taxpayers," he said.

http://news.yahoo.com/blogs/lookout/forbes-perry-flat-tax-most-exciting-tax-plan-192840946.html

[louis-t]

1. Their delusions continue.....

[SharonAnn]

5. Forbes has been pushing a flat tax for decades. He doesn't like to

pay tax on his inherited wealth.

He didn't work for it, but "it's all his".

[closeupready]

2. Why does the media call a regressive tax 'flat'? Is it because they are all overpaid?

And thus, it serves their own interests to disguise these measures that benefit the 1% (of which class they belong) disproportionately??

[polichick]

3. Tweedle Dee and Tweedle Dum.

[TexasProgresive]

4. Sure stevie likes it - he put one forth hisownself

And I'll bet that it gives him a tax rate of zero just like his did - no tax on capital gains.

The carrot is "this'll make that complicated tax thing easy, people." The stick is the middle and lower class pay all the taxes - remember that corporate profit tax is just a sales tax.

[JCMach1]

6. That Steve Forbes is excited about anythind is JUST

TMI

[HughBeaumont]

7. Well, it's because idle richies like him benefit the most from it.

He'd be paying what most HFMs would pay under a Flat/"Fair" tax . . . ZERO.

Just another disproportionate giveaway to the 1%.

[yellowcanine]

9. wrong thread

[MilesColtrane]

8. How can you tell when Steve Forbes is excited?

He always looks like that. (and it's creepy too)

[yellowcanine]

10. Good point. To answer the question, a wet spot appears on his trousers?