Today Governor Perry announced his economic plan for America that includes an optional flat tax for individuals, reduced corporate income taxes, aggressively limiting federal regulations and burdens, and reforming Social Security, Medicare and Medicaid. This all while balancing the budget without raising taxes.
In addition to proposing the emancipation of our nation’s energy resources, Gov. Perry has produced a bold, practical, results orientated approach to systemically reforming a broken system.
We have a system burdened with gross over-regulation, bloated entitlement programs, and monstrous debt. These problems will not be solved with a kitschy plan that is untested and unproven nor will they be solved by nibbling at the edges of our massive federal behemoth.
Some of the main aspects of Gov. Perry’s “Cut, Balance, & Grow” plan are as follows:
- Institute an optional flat income tax of 20% with no federal sales or value-added tax
- Reduce corporate income tax to 20%
- Eliminate taxes on social security benefits, dividends and capital gains, and inheritance
- Aggressively reign in harmful, out of control federal regulations and job-killing laws
- Reform Social Security, Medicare, and Medicaid – making them sustainable for the long term
- Control spending and debt by capping spending at 18% GDP, cutting non-defense discretionary spending, and passing a balanced budget amendment that does not increase taxes
Americans want more than showmanship with a wink and a nod. They demand bold leadership that will reverse President Obama’s march toward statism.
In many ways, Perry’s plan is what Americas have been asking for: a bold, straight forward, and logical approach to limiting the negative influence of government in our lives. What remains to be seen is whether, armed with a plan, the Perry campaign can regain some of the momentum it has lost over the past month.