Entries in Steve Forbes (2)


Perry Views Romney as a ‘Fat Cat’

Win McNamee/Getty Images(WASHINGTON) -- Texas Gov. Rick Perry has braced himself for potential criticism of his economic plan’s flat-tax component, sending a message directly to Mitt Romney, who rebuked the flat tax in 1996.

Asked in an interview Monday with John Harwood of CNBC how he would respond to possible criticism from Romney of a 20-percent flat tax, which Perry introduced Tuesday, Perry said, “I’d say he ought to go look in the mirror, I guess. I consider him to be a fat cat.”

During Steve Forbes’ 1996 presidential run, Romney chided the flat tax as one developed for “fat cats.” Forbes helped Perry develop the economic plan that he unveiled in South Carolina on Tuesday.

Perry defended his plan, which creates an optional 20 percent tax and eliminates dividends, capital gains and interest income taxes in the country, saying it should be lauded as a “tax cut across the board,” not one that benefits the wealthiest in this country.

Perry’s plan proposes a 20 percent corporate tax, to cap spending at 18 percent of GDP, to change Social Security by raising the retirement age, allowing young individuals to start personal retirement accounts, and to change the Medicare and Medicaid programs.

“I’ll take the criticism if that’s what comes,” Perry said. “I’ll take that criticism because what I’m interested again is getting America working.”

Copyright 2011 ABC News Radio


Steve Forbes Endorses Rick Perry

Ethan Miller/Getty Images, Joshua Roberts/Getty Images for Meet the Press(WASHINGTON) -- Texas Gov. Rick Perry received the endorsement of businessman Steve Forbes Monday morning.

Forbes helped Perry craft the flat tax plan the candidate will debut in South Carolina Tuesday, and Perry noted earlier in the campaign season that he had consulted Forbes on economic policy.

Forbes made his own presidential bids in 1996 and 2000, which focused on the implementation of a flat tax. Perry’s forthcoming plan differs from the initial flat tax plan developed by Forbes and does not use the 17 percent rate once proposed by Forbes.

The announcement of Forbes’ endorsement came at nearly the same time that former New Hampshire Gov. John H. Sununu appeared with Mitt Romney to formally endorse him.

Copyright 2011 ABC News Radio

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