Republican Suggests Obama Wanted Super Committee To Fail

Rep. Bill Huizenga (R- Mich.) accused the Obama administration Tuesday of intentionally benefitting from the Super Committee’s failure.

“It appears from the outside that they [Obama’s administration] made a calculated political move,” Huizenga told TRNS about the Super Committee’s failure. “They didn’t do much to help that process along and if there was a real desire to help that, the President could have and should have gotten engaged.”

Due to the Super Committee’s failure to reach a deficit reduction deal by Thanksgiving, there will be $1.2 billion in mandatory cuts in government spending beginning in 2013. Around $600 billion will be cut from defense and the rest will be deducted from domestic spending.

“We are going down a dangerous road here,” Huizenga remarked to TRNS.”The thing we need to do to revive this is revive our economy so people will come off of assistance and pay more in taxes.”

In regards to Obama’s proposed payroll tax extension, Huizenga stated that a reformed permanent tax code needs to be instated.

“We are continuing to do economic and tax policy piece meal - a little bit here and a little bit there. We aren’t doing comprehensive reform,” Huizenga said. “If were going to do it, it makes more sense to have permanent tax policy rather than temporary after temporary after temporary tax policy.”

Huizenga mentioned that an ideal tax code would be a flat tax that would eliminate loopholes and tax credits.

Perry Rolls Out Optional 20 Percent Flat Tax

After a dreadful two months on the campaign trail, Texas Governor and GOP presidential hopeful Rick Perry plans to turn a corner after unveiling a new tax plan Tuesday known as the “Cut, Balance and Grow” plan.  

Under Perry’s plan, Americans will be able to choose between their current income tax rate or switch to a 20 percent flat tax rate. In a plan not unlike that of pizza mogul Herman Cain, Perry said the flat tax works to simplify an “incomprehensible” and “complex” tax code and would allow Americans to “file their taxes on a postcard.” 

Perry appealed to the younger generation of American workers in a proposal that will surely grab the attention of both critics and supporters. Under Perry’s plan, these young workers would be given the option to own their contributions to Social Security as a new-form retirement package. 

The Texas governor also proposed to cap spending at 18 percent of GDP and he echoed calls by congressional conservatives for a Balanced Budget Amendment to the Constitution. In his plan, Perry said he hopes to balance the budget by 2020. 

“It will be an extremely difficult task exacerbated by the current economic crisis and our need for significant tax cuts to spur growth,” Perry wrote. “But that growth is what will get us to balance, if we are willing to make the hard decisions of cutting.”

Perry’s plan, however, fell short in terms of revealing details on whether his new tax plan would generate the same revenues that the current tax code does, something Cain said his “9-9-9” plan does.

“Cut, Balance and Grow strikes a major blow against the Washington-knows-best mindset,” Perry wrote. “Fixing America’s tax, spending and entitlement cultures will not be easy. But the status quo of byzantine taxes, loose spending and the perpetual delay of entitlement reform is a recipe for disaster.”