Gov Perry's Flat Tax

[David1980]

For example, when you look at the back inside cover of TheTaxBook, you will notice that the top 1% of all taxpayers paid an average tax rate of 23.27%, while the bottom 50% of all taxpayers paid an average tax rate of 2.59%. The average rate for all taxpayers was 12.24%.

Thus, in order for a flat tax to work, the poorest Americans would have to have their taxes raised from 2.59% to 12.24%, while the rich get their taxes cut from 23.27% to 12.24%.

Well, that's true if you only look at the federal income tax. Cain was kind of clever in eliminating FICA in his flat tax proposal, because that change would affect a lot of lower income people. So you would have to look at federal income tax + FICA when comparing his plan. I don't think Perry's plan touches FICA though.

[taxea]

If we throw out the unwieldy tax code and replace it with a sales tax or flat tax, or

The above is the idea behind the flat tax....no exemptions/deductions except personal exemption and maybe a filing status deduction. All other items of income will be taxed by FMV or basis assessed to the item by probably the same rules used now.
We may get a flat tax but the tax code will not be as simple as how much did you make? Send it in.