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SCHULTZ: My reaction to Rick Perry\u2019s new-old plan is that the definition of insanity is doing the same thing over and over again and expecting a different result. This is not a new idea. This is not something that is proposed for the first time. A flat tax has been introduced in the past, and it\u2019s been rejected because it overwhelmingly blows a hole in the deficit. Rick Perry isn\u2019t proposing anything to address that. How would he pay for this?<\/p>\n
RUSH: Well, I just love this, because she\u2019s talking about blowing a hole in the deficit. Been there, done that, Ms. Schultz. You guys wrote the book on it. When it comes to paying for it, what in the world are you paying for? We are bankrupt because of your party, Ms. Schultz. What we are proposing here is solutions that will lead to economic growth, which will lead to more precious government revenues. In fact, the president of the Club for Growth, Chris Chocola, called Rick Perry\u2019s new plan “massively pro-growth” in a statement today. <\/p>\n
“Rick Perry\u00c2\u2019s plan for tax reform would be massively pro-growth. A Flat Tax like the one proposed by Perry would unleash years of economic growth if it is passed into law. Furthermore, eliminating the tax on dividends and capital gains would immediately add trillions of dollars in new wealth to the economy, benefiting all Americans. Perry clearly understands that revitalizing the economy should start with a complete overhaul of a tax code that has nearly choked economic growth to death. Conservatives looking for a champion to carry the banner of a pro-growth tax reform will surely rally behind this bold proposal.”<\/p>\n
Now, the president of the Club for Growth, Chris Chocola, also took a jab at Romney in his statement. He said, “Disappointed that Governor Romney has yet to embrace a flat or fair tax. He would be wise to avoid using class warfare when comparing his current proposals to those of Governor Perry or Herman Cain,” talking about Romney. Here\u2019s David “Rodham” Gergen this morning on CNN\u2019s Newsroom. The host here is Joe Johns. He said, “David, politically, when you listen to this, is this or the sort of a Hail Mary pass for the Perry campaign? He\u00c2\u2019s dropped in the polls and now he has to get back in the game, does he not?”<\/p>\n
GERGEN: He comes along with a sweeping, bold, I would say a radical plan. Some would even call it breathtaking. We ought to talk about the content of this plan because it is one of the most dramatic proposals we\u00c2\u2019ve heard in a major presidential campaign in some years. It could revitalize his campaign. Clearly that\u00c2\u2019s what he intends. This Perry plan is likely to be very well received among Tea Party types and on the right of the Republican party. It\u00c2\u2019s going to catch hell from the left because when you look at it, it can easily be painted, because it\u00c2\u2019s a windfall for the wealthy. This is going to drop the net revenue for the government. How is Perry going to deal that? He\u2019s going to hold spending down to 18% of GDP. We haven\u00c2\u2019t been anywhere close to 18% now for some years. What does that mean? A lot of government services are going to go away<\/p>\n
RUSH: This is why a lot of people are going to like it. It is a return to fiscal sanity. We don\u2019t have the money we\u2019re spending now. We\u2019re broke. Look at our annual deficit. Look at the national debt. If something isn\u2019t done about this in a major way, not just tinkering around the edges, you know, taking the top rate from 35 to 38%, that\u2019s not gonna make any difference. Raising the retirement age to 67, whatever, that\u2019s not gonna make any appreciable difference. There has to be genuine structural, systematic change here if we\u2019re serious about this. And this is my point. We have a bunch of candidates who are dead serious about this with their proposals. And measured against the status quo, of course they\u2019re radical. But what\u2019s truly radical is destroying the country. What\u2019s truly radical is destroying the private sector, which is what is being done now. That\u2019s what\u2019s radical. <\/p>\n
Perry, Cain, Bachmann, Newt, you name it, their proposals are not radical. They\u2019re salvational. They\u2019re only radical if you compare it to the status quo. Would it be radical to say let\u2019s go back to spending levels of the Clinton years? Everybody was happy then, boom times, everybody says the Clinton years, whoa, let\u2019s depict that, raise taxes, economic growth, we had surplus. Fine, let\u2019s go back to those spending levels. We did fine, right? How about the spending levels of 2006, everybody was fine then. Oh, no, no, no, can\u2019t do that, can\u2019t possibly do that. Look at the numbers we had yesterday of growth in the government sector, the wealthiest county in America is suburban Washington. Most everybody that lives there earns twice what people in the private sector earn. Unemployment in that area is single digits, three to four percent. They all work for the government. Who pays \u2019em? People that don\u2019t have jobs anymore. People that can\u2019t find jobs. People whose homes are underwater. <\/p>\n
You want to talk about what\u2019s radical, Obamaism is radical. What\u2019s radical is what Obama has done and his party, and continues to do. That is what\u2019s radical. What we\u2019re talking about here is a return to sanity. Herman Cain\u2019s plan does it. Perry\u2019s plan at least gets us talking about it. And the shock and the, “Oh, no, we can\u2019t do that,” reaction that we\u2019re getting from inside-the-Beltway elitists ought to tell you everything you need to know about it. The establishment from both parties wants no part of any of these serious reforms. Government spending was at 18% during the Reagan revolution. It\u2019s been a long time. But we got by. We had massive economic growth in the private sector. We had employment going up, going up. We had inflation going down. People thought it wasn\u2019t possible for those two things to happen at the same time. But they did. <\/p>\n
So what\u2019s everybody all in a tizzy about? Well, Perry was on CNBC this morning Squawk Box, and John Harwood was interviewing him, and Harwood said, “By cutting the top rate to 20%,” it\u2019s a flat rate, you can opt out, you\u2019ve got two possibilities with the Perry plan. You can either choose a tax rate of 20% or the rate that you were paying previously. So if your tax rate was 15%, you can choose that. If your tax rate was 35%, you can choose that. Or you can choose the 20. What do you think people will do? And this is where they\u2019re bugged. That\u2019s why David “Rodham” Gergen and all these other people say it\u2019s nothing more than a big bone to the rich. So the question: “By cutting the top rate to 20%, eliminating dividends, capital gains, interest income taxes use provide a huge tax cut for wealthy people in this country. Given what\u2019s happened with income inequality, why is that a good idea?”<\/p>\n
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RUSH: Harwood won\u2019t let go, though, he said, “Wait a minute, for those people at the top it\u2019s hundreds of thousands, maybe even millions of dollars for them.”<\/p>\n
PERRY: But I don\u2019t care about that. What I care about is them having the dollars to invest in their companies, to go out and maybe start a business, because they\u2019ve got the confidence again that they actually get to keep more of what they work for. This idea that we\u2019ve gotta have a tax system in this country where you take more away from those that have the ability to create jobs. I\u2019m all about job creation. That\u2019s what I\u2019ve done for ten years as the governor of Texas, and that\u2019s what I\u2019m focused on. So I\u2019ll take that criticism because what I\u2019m interested in is getting Americans working.<\/p>\n
RUSH: I kinda like that answer, folks. I don\u2019t care about that, Mr. Harwood. I don\u2019t care about your template. I don\u2019t care about your BS that my plan\u2019s gonna result in the rich having more money because, I\u2019ll tell you what, what I care about is those people having money to grow their businesses and start their businesses and hire people. What I care about\u2019s jobs, Mr. Harwood, I don\u2019t care about the government getting bigger. I don\u2019t care about that. That\u2019s not what this is about. I\u2019m not trying to throw a bone to the rich. I\u2019m trying to get money returned to the private sector from the public sector. I\u2019m trying to get money back out of Washington, back to Main Street. <\/p>\n
And that\u2019s what Herman Cain\u2019s plan is all about. Any of our people that have an economic plan, I\u2019ll guaran-damn-tee you, that\u2019s what their plan\u2019s about. Their plan is about refueling the private sector, restocking it with capital, if you will, because, you know, Biden\u2019s running around talking about rape. Let me tell you who\u2019s been raped. The private sector of this country has been raped by the Obama administration. They have been held up. We have been held up. Our capital is in Washington and it continues to go to Washington, where it is redistributed to people who are going to send it back to Democrats in the form of campaign contributions. Money laundering is the essence of union support of Democrat candidates in the Democrat Party. <\/p>\n
So Harwood says, “Well, you mentioned ‘class warfare.\u2019 In 1996, when your advisor Steve Forbes was running on a flat tax, Mitt Romney says it was a tax for the fat cats.”<\/p>\n
PERRY: I would say that he ought to go look in the mirror, I guess. (chuckles) I consider him to be a fat cat.<\/p>\n
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PERRY: It\u2019s a good issue to keep alive. You know, Donald\u2019s gotta have some fun.<\/p>\n
HARWOOD: But are you saying that your comments about that are kind of a joke, or do you seriously have an unresolved question —<\/p>\n
PERRY: I don\u2019t.<\/p>\n
HARWOOD: — that Donald Trump has about this?<\/p>\n
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RUSH: I don\u2019t have a clue. I frankly don\u2019t care. As long as Donald Trump\u2019s having fun, that\u2019s all I need. I\u2019m trying to get people back the work. I don\u2019t know where Obama was born — and at this stage, I don\u2019t care what his birth certificate says. I want to get people back to work! Here is Perry himself, Gray Court, South Carolina, portion of his remarks.<\/p>\n
PERRY: The size of the current code is more than 72,000 pages. (chuckles) That\u2019s represented by this pallet right over here and the reams of paper. That\u2019s what the current tax code looks like. The best representation of my plan is this postcard. This is the size of what we\u2019re talking about right here. Taxpayers will be able to fill this out and file their taxes on that. (applause)<\/p>\n
RUSH: Right. And one final bite.<\/p>\n
PERRY: It\u2019s the kind of economic stimulus that President Obama could have achieved if he wasn\u2019t so hell-bent on passin\u2019 big-government schemes that have failed American workers.<\/p>\n
RUSH: Okay. All right. So that\u2019s Rick Perry and his plan: Basically a flat tax of 20% with an opt out: If you don\u2019t like it, pay the tax you\u2019re paying now, and with a focus here on, “You know, Mr. Harwood, I don\u2019t care. You tell me the rich are gonna end up with more money. I don\u2019t care about that; that\u2019s not the point here. The point is I want money back in the private sector. That\u2019s where people get hired. That\u2019s where people\u2019s lives expand. That\u2019s where people\u2019s prosperity exists. We\u2019ve gotta get the money, capital, back from Washington into the private sector — and that\u2019s what I care about.”<\/p>\n","protected":false},"excerpt":{"rendered":"
RUSH: Rick Perry announced his tax plan today, which I\u2019ll go on record as saying I, El Rushbo, think is great. It\u2019s fabulous. I like it. And the left is coming unhinged. We have just two examples. First from Debbie “Blabbermouth” Schultz, who was on MSNBC today, interviewed by the anchor Thomas Roberts, who said, […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\n