Hi there - here's some information from The Rachel Maddow Show editorial
team. I hope this helps.
Also here's a video of the segment from Tuesday night's show if you need
Perry, tanking, resorts to 'kitchen sink' strategy
Wayne Slater, columnist for the Dallas Morning News, talks with Rachel
Maddow about the inconsistencies in Mitt Romney's position statements
and Rick Perry's willingness to take the low road to rescue his ailing
--"Tanking Rick Perry has come up with his own version of a flat tax
that accomplishes the same goal of huge tax cuts for rich people and big
tax hikes for everyone else."
The "huge tax cuts for rich people" comes in the form of:
-eliminating the tax on dividends and capital gains -eliminating the
estate tax -lowering the top marginal tax rate from 35% to 20%
As for the tax hikes, Perry's plan would also:
-eliminate the earned income tax credit
-eliminate the child care tax credit
Analysis from Experts:
-"It's more regressive than the current system," Ted Gayer, a tax policy
expert with the Brookings Institution who served on President George W.
Bush's Council of Economic Advisers, told Yahoo News. "The burden would
fall more on lower-income people."
-Perry's plan also offers deductions to the flat tax rate for charitable
contributions and for mortgage interest--both of which
disproportionately benefit the rich.
"The people who will almost certainly take that alternative will be the
rich," Roberton Williams of the Urban Institute told Yahoo News. "People
who don't want to pay capital-gains tax, and are quite happy to see a
cut in the income tax from 35 to 20 percent."
-"You've got the same distributional problems that you do with the Cain
plan, because presumably it would scrap the earned income tax credit and
other refundable credits," Bruce Bartlett, a former Treasury Department
official under President George H. W. Bush, and the author of a
forthcoming book on tax reform, told Yahoo News. "So you're massively
raising taxes," for people who currently pay nothing, he said.
Analysis of Perry's Plan done by The Tax Policy Center for The New York
SYNOPSIS: "The highest-income households (at the 99th percentile) in
every structure of family analyzed always benefit from opting into the
Perry plan. The poorest households, on the other hand, do not. That's
primarily because the Perry plan, at least as currently described, does
not seem to have refundable tax credits."
12:50 pm, Nov. 2, 2011
Hi there - Sorry for the delay.
The show producers asked me to send you this:
It shows a net increase in federal taxes of $160 for the "lowest
quintile", a net increase of $452 for the "second quintile", and a net
decrease in federal taxes of $23,226 for the "top quintile."
Thank you - best,
> ----- Original Message -----
> From: Gardner Selby <email@example.com>
> To: Skowronski, Lauren
> Sent: Wed Oct 26 19:53:45 2011