Perry Plan Packed with Right Wing Fiscal Fantasies
A plan that will pretty much crush the struggling middle class by benefiting corporations ahead of people and catering to far right paleoLibertarian ideals that need a utopian fantasy world to work.
Texas governor and Republican presidential candidate Rick Perry has released an economic plan full of long-held conservative goals, including personal accounts for Social Security, an optional flat tax, major spending cuts and a series of tax cuts.
The “Cut, Balance and Grow” plan, which Perry first unveiled in an op-ed in the Wall Street Journal and will formally announce in a speech in Gray Court, South Carolina on Tuesday, puts Perry to the political right of former Massachusetts governor Mitt Romney, the front-runner in the GOP presidential race.
In almost every way, Perry, who is looking to woo tea party conservatives who have been reluctant to back Romney, presents policies to the right of the former Massachusetts governor. Romney has called for capping federal government spending at 20 percent of GDP, the Texas governor proposes 18. (This year, under President Obama, spending is at 24 percent of GDP). Romney has proposed raising the retirement age to reform Social Security, Perry adopts an idea even more beloved by conservatives and hated by liberals: allowing young people to put their money into private savings accounts outside the traditional retirement system.