Steve Forbes endorses Rick Perry

Forbes Media Chairman and Editor-in-Chief Steve Forbes attends a press conference in Kuala Lumpur on September 12, 2011.

/ SAEED KHAN/AFP/Getty Images

Steve Forbes, a businessman, former Republican presidential candidate and the editor and publisher of Forbes Magazine, is endorsing Rick Perry for president, he announced Sunday.

In an interview with Fox News, Forbes voiced his support for Perry's proposed flat tax plan as a "very exciting" way to get the economy back on track. While the specifics of Perry's plan, which he will unveil in a speech on Tuesday, are unknown, generally a flat tax refers to a singular income tax rate rather than the current progressive rates based on income.

"People love the idea of radical simplicity of this horrific tax code," Forbes said. "It is a dead weight on the economy. I think what Rick Perry's going to unveil on Tuesday's going to be very exciting."

"With firm leadership, which Rick Perry will provide... I think this will be a winning issue," Forbes added, saying that is why he is endorsing Perry. "People want it - they hunger for it."

Forbes is a longtime proponent of the flat tax, which he pushed during his failed 1996 presidential bid. Now, according to the New York Times, Forbes is advising Perry on his own flat tax proposal.

Forbes said the plan Perry would unveil would include "low-rate, generous exemptions for adults and children" that would "make it worthwhile to invest in America again. He also said it would "drastically simplify the tax code, lowering the corporate rate" and making it the "best in the developed world."

"It's a win-win all around," he said.

Several Republican presidential have pledged commitment to some variation on the flat tax, which they say is a simple, fair way to overhaul the tax code. Herman Cain, whose "9-9-9" plan includes a 9 percent income tax, a 9 percent national sales tax, and a 9 percent business tax, has been a particular point of focus - both due to Cain's much-heralded claims of the plan's simplicity, as well as the skepticism those claims have inspired.

Newt Gingrich, too, announced an "optional" flat tax plan Monday in an op-ed for the Quad-City Times.

Former Massachusetts Governor Mitt Romney's history of support for the flat tax, however, is more muddled. Back in 1996, he derided Forbes' plan as a "tax cut for fat cats."

Last August, however, he was quoted as saying "I love a flat tax."

[MurdochSucks]

How is raising taxes on individuals while drastically cutting taxes for the wealthiest corporations a "win-win situation?" Unless the objects in that statement are Steve and Rick.

[Progress4USA]

Let's see, Forbes wants a flat tax...Perry wants a flat tax. Forbes hates the American people...Perry hates the American people too. Seems like a logical pick Steve. Obama 2012!!!!

[GMartineDesigns]

Leave it to Forbes to endorse someone who hasn't even put together an economic plan. Sounds more like a Bildeberg endorsement.

[MurdochSucks]

Of course not, guys like Forbes HATE regulation. They hate having government do its job protecting people from the exploitation of people of his ilk. Likely Perry promised Forbes some backrubs for his nomination. Greasing his palm with dirty corrupt money, all the way.

[scdaddyo]

Would have never thought anyone of significance would endorse a bigot.

"stupid is, as stupid does" - forest gump

[MurdochSucks]

Rick Perry is a bigot. He wants to control women like they are children.

[getg]

Steve Forbes is the same guy that predicted a depression when Bill Clinton became President and raised taxes to close the deficit. You can look it up. That was the last time the economy was on track. It's a shame the media does such a lousy job at looking back at what some of these clowns have said before. This guy's credibility is zero.

[ItzDaTruth]

Fortunately for America, Mr. Forbes, your opinion now is as relevant as your candidacy was. Establishment shills are not in style this year.

Ron Paul 2012

[GMartineDesigns]

Agreed! The Schill look is done!

[ladyang]

great forbes, endorsing something you haven't heard the details of yet! just great!