Steve Forbes Endorses Rick Perry for President; Excited about his Flat Tax Plan

Steve Forbes has been rumored that he was going to endorse Rick Perry for President and now it is official.  The flat tax plan Forbes has been pushing for years and now has aligned with Gov Perry on the plan which the Governor will reveal tomorrow.  This is high praise coming from Steve Forbes who I consider one of the foremost experts on taxes and the economy:




Then we have this article from CBS about the Flat Tax proposal with Steve Forbes comments.  The last two paragraphs just show the flip flopping of Romney with his me too, me too, look at me:

Former Massachusetts Governor Mitt Romney's history of support for the flat tax, however, is more muddled. Back in 1996, he derided Forbes' plan as a "tax cut for fat cats." 

Last August, however, he was quoted as saying "I love a flat tax."

Is there anything you could consider a core value of Romney except the Mormon Church that he doesn't change his mind to suit what he thinks will get him votes?  Believe the answer to that is "NO!"  He has had over five years to develop a plan on the economy since he didn't have a job so where is it?  Not too impressed with Gingrich doing his plan as an op-ed today either which is what we have come to expect of Gingrich in this campaign.  Not a speech but an op-ed.  Is he afraid to answer questions?

Details of Rick Perry's flat tax plan will be revealed tomorrow in a speech in South Carolina.  Stay tuned as we will bring you the details from his speech.

October 24, 2011 12:49 PM
Steve Forbes endorses Rick PerryBy Lucy Madison

(Credit: SAEED KHAN/AFP/Getty Images)

Forbes Media Chairman and Editor-in-Chief Steve Forbes attends a press conference in Kuala Lumpur on September 12, 2011 

Steve Forbes, a businessman, former Republican presidential candidate and the editor and publisher of Forbes Magazine, is endorsing Rick Perry for president, he announced Sunday.

In an interview with Fox News, Forbes voiced his support for Perry's proposed flat tax plan as a "very exciting" way to get the economy back on track. While the specifics of Perry's plan, which he will unveil in a speech on Tuesday, are unknown, generally a flat tax refers to a singular income tax rate rather than the current progressive rates based on income. 

"People love the idea of radical simplicity of this horrific tax code," Forbes said. "It is a dead weight on the economy. I think what Rick Perry's going to unveil on Tuesday's going to be very exciting." 

"With firm leadership, which Rick Perry will provide... I think this will be a winning issue," Forbes added, saying that is why he is endorsing Perry. "People want it - they hunger for it."
Forbes is a longtime proponent of the flat tax, which he pushed during his failed 1996 presidential bid. Now, according to the New York Times, Forbes is advising Perry on his own flat tax proposal. 

Forbes said the plan Perry would unveil would include "low-rate, generous exemptions for adults and children" that would "make it worthwhile to invest in America again. He also said it would "drastically simplify the tax code, lowering the corporate rate" and making it the "best in the developed world." 

"It's a win-win all around," he said. 

Several Republican presidential have pledged commitment to some variation on the flat tax, which they say is a simple, fair way to overhaul the tax code. Herman Cain, whose "9-9-9" plan includes a 9 percent income tax, a 9 percent national sales tax, and a 9 percent business tax, has been a particular point of focus - both due to Cain's much-heralded claims of the plan's simplicity, as well as the skepticism those claims have inspired. 

Newt Gingrich, too, announced an "optional" flat tax plan Monday in an op-ed for the Quad-City Times.

Former Massachusetts Governor Mitt Romney's history of support for the flat tax, however, is more muddled. Back in 1996, he derided Forbes' plan as a "tax cut for fat cats."

Last August, however, he was quoted as saying "I love a flat tax."   

Source:  CBS News