The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( TheStreet) -- Seeking to jumpstart his flagging campaign and establish his pro-growth and fiscal responsibility credentials, Governor Rick Perry is unveiling a tax plan that will not jumpstart the economy and is fiscally irresponsible. In a nutshell, Mr. Perry would give taxpayers a choice between filing under the current income tax system -- with all its flaws -- and an alternative flat tax 20% system. Under the latter, families could maintain their mortgage deductions if they earn less than $500,000, which is about 99% of taxpayers, and could declare exemptions of $12,500 for each family member.
|Texas Gov. Rick Perry|