Rick Perry revealed some details from his forthcoming tax plan in a speech in Las Vegas today, and said he would replace the current tax code with a flat tax. From the Weekly Standard:
The plan will involve major tax reform, entitlement reform, a balanced budget amendment to the Constitution, an abolishment of earmarks, and a recommitment to energy exploration in the United States.
“Our long term growth requires a fundamental tax reform,” Perry said. Therefore, his plan “starts with scrapping the three million words of the current tax code—starting over with something simple: a flat tax.”
“I want to make the tax code so simple that even Timothy Geithner can file his taxes on time,” the Texas governor said, taking a jab at the treasury secretary who had major errors in his tax returns that were revealed after he was nominated by President Barack Obama for his present job.