Steve Forbes: Perry’s flat tax ‘most exciting tax plan since Reagan’s’
Steve Forbes, whose flat tax plan helped make him an unlikely contender for the Republican presidential nomination 15 years ago, is praising a new version of the idea from Rick Perry. And Forbes, who says he helped devise Perry’s plan, left little doubt that he’ll formally back the Texas governor before long.
In an interview with Yahoo News, Forbes called Perry’s proposal, announced in a speech Wednesday, “the most exciting tax plan since Reagan’s,” in 1980.
Asked whether that included his own 1996 plan, Forbes said it did, because unlike him in 1996, when he fell short of upsetting front-runner Bob Dole, Perry “is going to win.”
Asked whether the Perry plan would immediately raise as much tax revenue as the current system, Forbes did not answer directly. But he said that in the long-run, it would increase revenue, by spurring economic growth.
Many on the left argue that a flat tax would increase the tax burden on the poor, while easing the load on wealthier Americans. Forbes dismissed those concerns.
“It’s gonna be good for all taxpayers,” he said.
That’s it? It’s gonna be good for all taxpayers? No explanation how?