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Thursday, Oct 27 2011

AP: Flat tax renews fight on ‘trickle-down economics’

Oct 27, 2011

On October 26, 2011, the Associated Press reported:

The flat tax is making a comeback among Republican presidential candidates. But it faces tough opposition in Congress because it tends to favor the rich at the expense of other taxpayers, renewing an old debate about “trickle-down economics.’’

Most of the top GOP contenders — Mitt Romney’s an exception — offer a variation of the tax plan in which everyone pays the same rate. Businessman Herman Cain has his 9-9-9 proposal, and Texas Gov. Rick Perry unveiled a 20 percent flat tax on income this week. Even Romney foresees a flatter tax system in the future, though he favors something closer to the current setup in the short term…

Read the full article here


Published: Oct 27, 2011

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