Perry Ups Ante With Flat Tax Plan

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Perry states that workers can choose between the two plans. Does that mean lower income earners can keep the Earned Income Tax Credit and the Child Care Tax Credit while paying zero income tax? And does this mean higher earners go from a 35% tax to 20%, elimination of the estate tax, elimination of the capital gains tax and lowering the business tax from 35% to 20%? If so the Federal government can expect to collect about half of what they are getting under the present code.

Grandinquisitor of CA 1:09AM October 26, 2011