White House Labels Perry's Flat Tax Plan "A Far-Right Vision"

Today, Rick Perry proposed allowing Americans to choose between their current income tax rate and a new, revolutionary 20 percent flat tax rate. He also mentioned privatizing Social Security accounts and further slashing spending and corporate deregulation. Perry has dubbed it the 'Cut, Balance and Grow' plan, and he claims it will suddenly reduce unemployment and fix the stagnating economy. Obama and crew aren't convinced, as is evident by this quote from a memo released yesterday.

"Tomorrow, Governor Rick Perry will unveil his economic plan, featuring a "flat tax" plan that radically restructures the tax system and shifts a greater tax burden onto the middle class. The Perry tax plan comes on the heels of Governor Mitt Romney's economic plan, which doubles down on the failed strategies of the past with large tax cuts for corporations and wealthy Americans while delivering little or nothing to most middle class families."

You can read the rest of the memo HERE.

Sources: Fox News, CBS News