Herman Cain isn’t the only candidate vowing to junk the unwieldy federal tax code and replace it with a simpler structure. On Wednesday, speaking to attendees at the Western Leadership Conference in Las Vegas, Rick Perry announced that implementing a flat tax would be one of the centerpieces of his plan to spur economic growth. “It starts with scrapping the three million words of the current tax code, and starting over with something much simpler: a flat tax,” Perry told attendees at the Western Leadership Conference in Las Vegas.
Perry withheld key details of his plan, which he’ll unveil in a speech next week. But embracing the flat tax is a move fraught with risk. Perry is among the highest-profile presidential contenders in history to hook his Oval Office hopes to the flat tax, a controversial idea that has ricocheted around the right for decades but which is derided by opponents as a regressive system that slashes taxes for the wealthy while increasing them for nearly everyone else.
Kind of a no-brainer, they should all come up with their own crazy regressive tax plan. It’s a copy cat league.