With this Flat Tax plan
there's no need to pay a tax preparer, accountant or attorney.
17 /PRNewswire/ -- Following is a statement by Art Godi, president of the National Association of Realtors, in response to the flat tax plan
announced today by presidential candidate Sen.
The Armey & Shelby Flat Tax Plan
, which would make all interest, dividends and capital gains non-taxable.
Perry has designed his plan with the help of publishing magnate Steve Forbes, whose own 17 percent flat tax plan
was the linchpin of his unsuccessful 1996 and 2000 runs for the Republican presidential nomination.
Forbes, hoping to revive his struggling candidacy, promoted his flat tax plan
and played on the anti-Washington sentiment easy to find in the West.
With that quip, Forbes dived into his stump speech, carefully explaining what he sees as the virtues of his 17 percent flat tax plan
, but also delivering one-liners aimed at his opponents with more ease and humor than he has in the past.
Under the various flat tax plans
, many forces might act to change the new equilibrium interest rate.
Of the flat tax plans
they would have the most negative impact on the municipal bond market.
The flat tax plans
would eliminate the deductibility of state and local taxes and would eliminate the current tax preference for tax-exempt municipal bonds, because federal taxes would no longer apply to the interest payments to individuals or corporations from corporate bonds.
The opening salvos of the GOP Presidential campaign debate in Iowa reverberated in the nation's capital last week with the introduction of a series of rival federal flat tax plans
and a GOP national commission report.