A Tax Plan Favoring the Wealthy? That Would Never Fly

When he’s not sharing his thoughts about Barack Obama’s birth certificate, Republican presidential candidate Rick Perry is apparently unveiling a tax plan. It’s a flat tax, with a few other details explained by the Washington Post (10/26/11):

Perry also would reduce the corporate tax rate from 35 percent to 20 percent; eliminate taxes on dividends and capital gains; make deep, unspecified cuts in federal spending; and establish individual retirement accounts outside the Social Security system.

The article, by Karen Tumulty, gets approving quotes from a Republican adviser and anti-tax crusader Grover Norquist. But it also says this, in the reporter’s own voice:

The proposal would be a boon to the wealthiest Americans, and that is one reason why previous flat-tax proposals, though appealing in their simplicity, have never gone far politically.

Indeed. If there’s one thing that doesn’t go far politically, it’s tax policy that favors the wealthy.

About Peter Hart

Activism Director and and Co-producer of CounterSpinPeter Hart is the activism director at FAIR. He writes for FAIR's magazine Extra! and is also a co-host and producer of FAIR's syndicated radio show CounterSpin. He is the author of The Oh Really? Factor: Unspinning Fox News Channel's Bill O'Reilly (Seven Stories Press, 2003). Hart has been interviewed by a number of media outlets, including NBC Nightly News, Fox News Channel's O'Reilly Factor, the Los Angeles Times, Newsday and the Associated Press. He has also appeared on Showtime and in the movie Outfoxed. Follow Peter on Twitter at @peterfhart.