Does 20 percent trump 9 percent?

October 28th, 2011 by Joe Kristan

GOP Presidential contender Rick Perry has made a bit of a splash with an optional “Flat Tax”‘ proposal. I don’t like optional tax computations because in real life they mean everyone has to compute their tax one more way to find which way gets the best result. Think of it as an Alternative Maximum Tax. It also fails to eliminate all the deductions that it could, leaving rates higher than they would need to be.
That said, it’s great that tax proposals are part of the campaign. We’re overdue for a tax overhaul, and even though none of the plans up for grabs will ever be enacted, we are probably seeing some of the pieces of the next tax system come together.
More coverage:
TaxProf
Tennessee Tax Guy
Going Concern
Dan Meyer
Also:
Robert D. Flach

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