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.