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Economics

Governor Rick Perry’s Generational Rip-Off: Laurence Kotlikoff

Nov. 3 (Bloomberg) -- At first glance, Governor Rick Perry’s plan for a federal flat tax seems way cool. Our personal income tax is a horrific, inefficient, inequitable, complex monstrosity that drives anyone without the simplest finances nuts. I’d love to stop wasting four days a year preparing my return.

Problem is, the attractions of Perry’s plan come with a big downside: We’d be ripping off our own children.