On Tuesday, Texas Gov. Rick Perry unveiled his 20-20 plan. It’s a flat tax rate of 20 percent on income and he would lower corporate tax rates to 20 percent as well. Many other taxes would be eliminated. What should we make of the Perry plan? Is a flat tax the right way to go? What about Herman Cain’s Fair Tax approach? Is a national sales tax a good idea? And how should America respond to President Obama’s continued push for his economic plan – including higher tax rates for the wealthy? We ask Brian Wesbury, former chief economist for the Joint Economic Committee in Congress. He is now chief economist at First Trust Advisers in Illinois.
