Perry hints at the outlines of his economic plan
Rick Perry said during Tuesday night’s debate that he was on the verge of releasing his economic-growth plan. In a speech Wednesday, the Texas governor said it’s coming early next week — and, according to a report in the Weekly Standard, it includes “major tax reform, entitlement reform, a balanced budget amendment to the Constitution, an abolishment of earmarks, and a recommitment to energy exploration in the United States.”
[Perry's] plan “starts with scrapping the three million words of the current tax code — starting over with something simple: a flat tax.”
“I want to make the tax code so simple that even Timothy Geithner can file his taxes on time,” the Texas governor said, taking a jab at the treasury secretary who had major errors in his tax returns that were revealed after he was nominated by President Barack Obama for his present job.
“The second part of my plan involves the serious commitment to spending, realizing alternatives” to the path taken by Europe, Perry said. In this vein, the Texas governor went on to affirm his commitment to “reforming entitlements, preserving those commitments to those who are on Social Security…and those approaching the age of retirement.”
Details about what kind of flat tax and how exactly Perry would reform entitlements are TBA. It would have been nice to have those details before Tuesday’s debate. On the other hand, given the pummeling Herman Cain got for the specifics of his 9-9-9 plan, one can understand why Perry wouldn’t have been eager to release his own plan beforehand.
With some $15 million in the bank, Perry can use the month between now and the next debate to roll out, explain and promote his plan. Longer than that, really: The next debate will be about foreign policy, so his plan won’t get debate-style group scrutiny on that occasion.
Entitlement reform, which ranks ahead of even tax reform in terms of urgency, has gone largely unaddressed by the other candidates. If Perry can seize on that issue with an attractive plan, and if he can combine it with a robust energy plan (which ought to be a strength for the Texan), and if he presents a flat tax that’s even simpler than Cain’s 9-9-9, he still stands a chance of regaining the lead among the anti-Romneys in the race.
Of course, for now, that amounts to three big if’s about a still-unknown plan.
– By Kyle Wingfield
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120 comments Add your comment
Ben the Independent
October 20th, 2011
10:20 am
I like Perry but this sounds like a ‘me too’ thing following the lead of Cain and his 9-9-9 plan.
captguitarman
October 20th, 2011
10:25 am
I’m sure Obama and his team cannot believe their good fortune with this Pub debate circus now getting up to full speed. On his show last night, O’Reilly asked Dennis Miller, “Who won?” Miller’s pick was exactly right – Obama won. And he won big. O’Reilly’s Dem analyst, who was on earlier, was thrilled with Perry’s hard nosed performance and how well he is doing in the campaign. What a surprise. If Perry gets the nomination, the Obama nation will be dancing in the aisles — more years. The Dems do not want to see Romney get the nomination for one very important reason. Out of all the clowns in this circus, Romney would win the election. There is supposed to be 10 or 12 more of these debate “performances” and with all the Pubs on stage who have no prayer of winning the nomination, let alone a national election, unloading their clips on the frontrunners and spouting off stupid nonsense so they will get their sound bites recorded and printed . . . meanwhile creating campaign material for Obama and drag and wind resistance for the ultimate “winner” of this ongoing fiasco, Obama should be in pretty good shape. Who would have thunk it? I for one never saw this coming. Obama was a one-termer for sure until this stupid road show began. People tune in for Pub debate entertainment value, and they are rarely disappointed when non-real candidates like Bachmann, Paul, Santorum, and Gingrinch, shoot off their mouths — not to mention Perry, the Pub male version of Palin (thank God she is not up there). They don’t tune in to decide who would be the best Pub nominee or the best Prez. Chelsea Handler even had clips on her show starring the Romney-Perry snit, with some commentary about a couple of bitchy, mean teenage girls going at it. It got lots of laughs. On the bright side, once Obama is back in office, the Pubs could turn this into a reality show with Don Trump as moderator and guest appearances by Sarah Palin. The ratings would go through the roof. Note to Pubs. Before this thing gets away from us. Get the focus on the top three or four candidates and get them to agree to only have a few more debates (at the most) among themselves, before the judges from Dancing With The Stars or the Biggest Loser, or Don Trump himself, decides who the nominee (and election loser) will be.
Next up
October 20th, 2011
10:26 am
WASHINGTON—A group of U.S. solar-panel makers Wednesday called on the federal government to punish Chinese rivals with extra duties for allegedly dumping their products on the U.S. market.
Executives of SolarWorld AG, a German-based company that makes solar panels in Oregon, led the group at a news conference here, flanked by both U.S. senators from Oregon.
SolarWorld “can compete with anyone in the world,” said Gordon Brinser, president of the company’s U.S. unit. But, he added, “illegal subsidies in China” have prompted “the Chinese solar industry to come in and gut and own the U.S. solar industry.”
Blame Solyndra on the Chinese.
UGA 1999
October 20th, 2011
10:28 am
captguitarman….just wait until Obama get involved in the debates next year. It is going to be fantastic. Watching him sweat when he is asked about his record over the past 3 years. It is going to be great. The fact is that Perry, Romney or Cain could beat him right now.
td
October 20th, 2011
10:31 am
Road Scholar
October 20th, 2011
8:44 am
LBB: If the repubs would get out of the way, we could see whether it works or fails. Right now it is being held hostage
The Republicans were “out of the way” for the first two years of Obama’s administration. The Republicans had absolutely no power. How are all the reforms working from those two years?
td
October 20th, 2011
10:35 am
captguitarman
October 20th, 2011
10:25 am
These debates mean absolutely mean nothing right now. 4 years ago Obama was killed and considered irrelevant in the dem debates. Clinton, Biden and Dodd were the front runners and won every debate. How did that work out?
Matt
October 20th, 2011
10:36 am
@ Terrance
Your reading comprehension of that article is terrible. First of all the article says the AGI of the top 1% had fallen dramatically. Adjusted gross income? LOL! hahahahaha. No doubt since the top 1% pay less than the top 10% 31% for the top 10% over 30% for the top 1% in AGI it makes complete sense that their AGI would be lower.
If you know your stuff you know that the GROSS income for the top 1% is higher than ever compared to the other 99% of workers. The tax burden falls heaviest on the people making 100-250k a year.
It is lighter on the top 1%.
Jobs are created by only one thing in this country.
Demand. And if 80% of the population has no money to spend then jobs will never be created. No matter how much the top has it can never create jobs. unless they have customers it will never matter.
Chuck Doberman
October 20th, 2011
10:37 am
@ Glass Houses
“Where were you…” In denial glass houses. Republicans have practiced the mindset since Reagan introduced “trickle down”, and with that much practice they’ve become masters. 98% will deny ANY AND ALL CULPABILITY regarding where the economy wallows today, swearing on a stack of Bibles that ALL the ills of the world are caused by Obama, everything was peachy-keen until Jan 2009 and Bush handed over a booming economy with huge surpluses. Obama has bungled opportunities and is struggling to reignite our economy, in part because of his and the Democrats lack of cohesion, focus and realistic viewpoints; also in large part to the GOP A#1 top-priority of ousting Obama after 1 term thereby obstructing anything and everything that is not proposed by a GOP member, regardless of merit or benefit to the nation and it’s people. Party First… period… and they will deny that as well and camoflauge their motives with insult and vitriole. It’s truly sad, as there is no way I and many others imo will ever vote for a representative of a party that denies any and all mistakes (such as their economic workings which contributed greatly to the financial meltdown) and clearly intends to continue along the same path that has led to such destruction. I expect that attitude from a 4 year old… not the prospective leader of the free world. We’re left with Obama further struggling to pass ANYTHING in attempt to improve the situation and quite possibly stumbling further, or we elect the GOP nominee and continue to sap the middle-class of any wealth, and handing even more of the nation’s wealth to the already-wealthy “job creators” (roflmao, these people are concerned with 3 things: profit, profit and more profit… which they’ve maximized the past few years by FIRING/LAYING OFF people) to hoard or invest in other countries. As a member of the middle-class I really have no choice… despite the window-dressing the GOP has made it clear that ONLY big-business and their profits matter and that it’s ok if the large majority of our population is ground into dust, both with their actions in the past and their determination to “stay the course” regardless of casualties.
Lil' Barry Bailout (Unexpectedly Revised Downward)
October 20th, 2011
10:39 am
When Kennedy was inaugurated, spending was $629 billion. In 2011 under Obozo, spending is $3341 billion. Both numbers are in 2005 dollars.
It’s the spending, stupid.
GT
October 20th, 2011
10:39 am
The Republicans insult America with these cheesecakes they run for office. How Newt got in this beauty contest is another story, but these big hat guys with no cattle that are superficial, is an insult. McCain gave up trying to be intelligent and plagued the country with this Palin routine. Before this Bush Sr. brings in Dan Quayle as its insult to the American voter. They don’t lift the bar they lower it. And then they empower more of these types to think they are presidential timber. The press has found the money is in mass marketing forget being a conscience or a moral compass. They use there old membership to these ideals to camouflage their new found love for money and trash.
UGA 1999
October 20th, 2011
10:40 am
Matt…..sorry dude you are wrong. Jobs are created when an individual has the drive and determination to start a business that provides a good or service for his/her community. Right now there is too much uncertainty by our government for most people to dare to step on a limb to create more jobs.
BTW….when those people who start business do take the risk and become successful then your spoiled brat OWS thugs protest them…….
Jack
October 20th, 2011
10:44 am
The Flat Earth Tax has been proven a loser before and will be again. Maybe it’s more Faith Based Intelligent Design. Good luck going backwards right wingers.
UGA 1999
October 20th, 2011
10:45 am
Jack….Backwards…like Obama has done ANYTHING to make us go forward?? HA.
“The Flat Tax has been proven a loser”…………Really, when? Please provide proof.
Matt
October 20th, 2011
10:56 am
So if demand goes down for a product or income goes down for the vast majority of a population. somehow just starting a business will bring the income in.
As income rises for the masses there will be more income to spend on services.
In the article that was posted AGI for the top 1% had been flat for 40 years. The country thrived and grew in those 40 years.
The last time income inequality was at this level was 1925-1929…….
oh.
CJ
October 20th, 2011
10:56 am
Without seeing Perry’s plan, I can tell you right now that any flat tax proposal will either raise taxes on the poor and middle class while cutting taxes for the wealthy, explode the deficits and national debt, or both. It’s frustrating that the Republican Party seeks to claim the mantle of fiscal responsibility while advocating proposals (Ryan, Cain, and now, Perry) that represent the height of fiscal irresponsibility.
My tax simplification proposal is this: Tax inheritance and investment income at the exact same tax rates as income earned by setting the alarm and going to work every day.
Tiberius - Your lightning rod of hate!
October 20th, 2011
10:56 am
Road, while I DO have all the answers, I’m never going to run for office again. I found out how much I detest serving with people who lack principles or simply sell them to the highest bidder. I’m much better suited to being a benevolent dictator. . .
mike
October 20th, 2011
10:58 am
It is obvious someone has not watched Perry in the last two debates. Maybe they won’t have any more debates and he won’t have to explain his plan. He does well when he appears alone and no one asks him questions. You know it does take a big effort to come up with an answer.
UGA 1999
October 20th, 2011
10:58 am
Matt….sounds like more of the lower 49% need to get off their butts and become productive to society.
C.C.
October 20th, 2011
11:01 am
Jobs are created by only one thing in this country.
Demand.
Then I demand that Obama get the hell out of the way. He keeps promising jobs that never materialize. Do you believe in his promises? I quit believing after his first failed stimulus.
MiltonMan
October 20th, 2011
11:02 am
Any plan is better than Obozo’s plan:
(1) Give hand-outs to his union buddies in the auto industry
(2) Give hand-outs to his teacher buddies to kept them in the Democratic voting bloc
(3) Attack the evil rich who do not pay their fair share
(4) Hire clowns in his administration who do not even file tax returns.
(5) Keep telling his “Hope and Change” minions that it is Bush & the reps fault.
etc.
etc.
jd
October 20th, 2011
11:09 am
Individuals have a right to profit! eliminate individual debt — demand an end to taxpayer subsidies! If corporations are people — jail those who unethically steal from the government (remember the $80 billion given Brown and Root to get the oil flowing in Iraq? And, how about those contractors who built “shocking” shower stalls for our service members? And — some of the 49% make more than a million dollars and don’t invest in the US… what to do with them?
This conversation is a joke — course a presidential candidate who admits he can’t debate (so much for negotiating on behalf of the country) and failed college economics — is a joke
GT
October 20th, 2011
11:09 am
mike I think you have a different set of thinking in Texas. When Perry answers a question he is doing it in Texas time which half sentences work because it is a doctrine he has memorized.
UGA 1999
October 20th, 2011
11:09 am
jd…..lets see how Obama does without his teleprompter.
getalife
October 20th, 2011
11:09 am
Told ya.
daffy shot in the head.
Another huge accomplishment for our President.
USA!
USA!
USA!
Great job President Obama!
Matt
October 20th, 2011
11:10 am
Actually productivity in this country has skyrocketed in the past 10 years.
Workers are tripling productivity while getting paid the same they did 10 years ago.
You are contributing a false narrative. A narrative that everyone can be as successful as the top 15%. ( I am a member of the top 15% and enjoy my hard work and earnings)
You will always have a lower class. How you treat the lower class and how we as a country choose to function with a lower class determines much of how we view ourself as a society and how our country will function.
We can choose to think that everyone can be millionaires but that is just not possible. You will always have lower income workers.
Money flows through an economy. Money moves upwards not downwards. Which is great! It is awesome that if the lower class has a little more they can contribute to the economy even more. And in turn they fatten the pockets of entrepeneurs and businessman. They give the opportuniy for economic growth.
Without the lower and middle classes there is no economy. They are the 170 million people who spend all of their money. Their spending fuels the upper class.
I have nothing against the upper class. I love it. They are necesarry and needed to grow our economy as well. their ideas and ingenuity helps provide services and better quality of life to the people WHO SPEND THEIR MONEY. Without money to spend in the economy by the 170 million the 3-10 million with 85% of the wealth would not be able to grow their wealth.
They would have no customers.
If you are in business and worried about the taxes on your profit you shouldnt be in business. You should be worried about growing your business to offset the margins and building a successful product.
If an extra 3 cents of each dollar of your profit makes you not want to be in business…then you shouldn’t be in business.
Most successful entrepeneurs are more concerned with running a successful enterprise than short cutting taxes.
Highly successful businessmen like Mark Cuban or Bill Gates could care less if you take an extra 3 cents of each dollar. They will just work that much harder to triple the business VOLUME rather than worry about the cut of the pie they will make the pie bigger for themselves.
it is how the top 1% functions. they dont think small.
UGA 1999
October 20th, 2011
11:15 am
Getalife…..”Way to go Obama???” haha you are delusional! You do know that the rebels of Libya got him, not us you fool!
Uncle Jed
October 20th, 2011
11:15 am
MarkV
October 20th, 2011
10:12 am
++++++++++++++
Obviously, as the line was offered by a politician. Still a good line though.
getalife
October 20th, 2011
11:16 am
Four more years!
No jobs, no cuts.
cons lose.
getalife
October 20th, 2011
11:18 am
Hillary told them where he was hiding.
Another huge foreign policy victory for our President.
USA, USA, USA!
Told ya cons.
Never bet against our country.
You lose again.
Kyle Wingfield
October 20th, 2011
11:19 am
Folks, we’re having some major technical issues with AJC blogs today. I’ll post something new when it’s technically possible (I can post a comment from my phone, but not an entire blog item). Thanks in advance for your patience.
UGA 1999
October 20th, 2011
11:19 am
Getalife….Obama is a great LOSS for our country!
Uncle Jed
October 20th, 2011
11:20 am
UGA 1999
October 20th, 2011
11:15 am
+++++++++++++++
Ease up on ol’ porncon (gotnolife) as he can’t find his way to Bookman’s Bar & Grill this morning. Just remember this: If Obogey gets credit for everything that happens on his watch then give him all the rope he needs. Unemployment; inflation; division; stagnation; foreclosures; corporate bailouts; banking bailouts; no Happy Meals; Obogeycare; waivers; lavish vacations at taxpayer expense; bus tour campaigning at our expense; union thuggery; ACORN; etc.
GT
October 20th, 2011
11:22 am
If it is all about telepromp why do most of the Republican feel they need a strong debater out there to compete with O? You throw any of this crowd you got running now on stage with O and cover the audience with plastic, O is slicing them up. Particularly your boy Perry, there will be a big Texas hat, some boots but no Perry by the time it is over.
Tiberius - Your lightning rod of hate!
October 20th, 2011
11:25 am
Yeah, noticed that, Kyle. Coming back to the page a couple of times and it varies as to whether you or Bookman goes missing from the Opinion page.
Not that HE’D be missed . . .
UGA 1999
October 20th, 2011
11:25 am
GT….”O” is a great speaking (B.S. er). However he has shown a trend to say things that back him into a corner or put his foot in his mouth.
Tiberius - Your lightning rod of hate!
October 20th, 2011
11:27 am
“If it is all about telepromp”
It’s not.
“why do most of the Republican feel they need a strong debater out there to compete with O?”
They don’t.
getalife
October 20th, 2011
11:44 am
cons are never right about anything Kyle so for now on my comment will be :
Wrong as usual.
What did your candidates say about Libya?
Wrong as usual.
Tuskegee Airmans
October 20th, 2011
11:46 am
LOL
Tiberius - Your lightning rod of hate!
October 20th, 2011
11:50 am
Hey, getaclue, go back to the Children’s Table where you belong.
We talk substance here.
Tuskegee Airmans
October 20th, 2011
11:51 am
@Road wouldn’t you vote for ole “tiberius”? lol
getalife
October 20th, 2011
11:53 am
“Hey man nice shot”
“I wish I would have met you, I would say nice shot man”
http://www.youtube.com/watch?v=o9mJ82x_l-E&ob=av3n
Lil' Barry Bailout (Unexpectedly Revised Downward)
October 20th, 2011
12:04 pm
400,000 new applications for unemployment. Unemployment nationally stuck at 9% Georgia unemployment increasing.
Obozo’s plan isn’t working.
It is time for change.
Jefferson
October 20th, 2011
12:15 pm
I really have no reason to belive he would not do what the GOP did from 2000-2008, run up a credit bill…that’s what they did last time. Did he go to rehab?
larry.333
October 20th, 2011
12:22 pm
LISTEN CLOSE !!
IF HE WIN THE ELECTION ??
YOU WILL NEVER HEAR ABOUT FLAT TAX AGAIN, FROM RICK PERRY’S MOUTH!!!!
larry.333
October 20th, 2011
12:24 pm
HE WILL SAY AND DO WHATSOEVER, IT TAKES TO ADVANCE “HIS” CAREER !!!
“RICK PERRY IS A USER, NOT A PROMOTER” !!
Rafe Hollister
October 20th, 2011
12:37 pm
Airmans? Airmen, I thought was the plural form, but hey you libs know everything, so I must be wrong again.
Lil' Barry Bailout (Unexpectedly Revised Downward)
October 20th, 2011
12:39 pm
A Long, Steep Drop for Americans’ Standard of Living
Think life is not as good as it used to be, at least in terms of your wallet? You’d be right about that. The standard of living for Americans has fallen longer and more steeply over the past three years than at any time since the US government began recording it five decades ago.
http://www.cnbc.com/id/44962589
————————
Change.
Rafe Hollister
October 20th, 2011
12:42 pm
GT
Dan Quayle is an intellectual giant compared to Joe Biden. I don’t think we have anyone naive and inexperienced enough to compare with Oblamer, maybe Rick Santorium, but I think Rick would eat his lunch in a debate.
jd
October 20th, 2011
12:42 pm
@UGA 1999 – at least O knows how to spell teleprompter. Btw, has Perry figured out which century we got our independence? And you want him to negotiate with who?
Rafe Hollister
October 20th, 2011
12:43 pm
LBB, watch them blame the drop over the last three years, on Mitch McConnell or Sarah Palin.