POSTED: Tuesday, October 25, 2011 - 2:11pm
UPDATED: Wednesday, October 26, 2011 - 10:58pm
Texas Governor Rick Perry is floating a plan to radically cut taxes as he works to revive his flagging presidential campaign. Under Perry's plan you'd pay what you pay now or opt for a flat 20% rate.
"Taxes will be cut across all income groups in America," Perry proclaimed.
Since the early 1900s, the more you make, the higher your rate. Polls say most agree the rich should pay more, but Perry feels differently. Perry's plan would even allow most deductions. He'd cut corporate taxes to 20% as well. Perry's support has plummeted to 6% according to the latest CBS/New York Times poll.
Herman Cain is at 25%, with Mitt Romney up to 21%. Perry losing focus in debates hurt him, and he lost his serious tax focus briefly Tuesday as well, laughingly telling CNBC's John Harwood why he's reviving the issue about Barack Obama's birthplace.
"It's fun to poke at him a little bit and say let's see your grades and your birth certificate," Perry chuckled. "It's a good issue to keep alive."
To keep his campaign alive, Perry also promised Social Security and Medicare reform, allowing younger workers and even states to opt out, proposals he hopes will grab attention.