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Obama camp: Perry flat tax plan "a far-right vision"

In anticipation of Rick Perry's unveiling of his economic plan later today - a plan that will include aproposal for a 20 percent flat tax - the Obama re-election team is hammering Perry as well as Mitt Romney for tax politics that " embrace a far-right vision for our tax code."

Perry's flat tax plan "radically restructures the tax system and shifts a greater tax burden onto the middle class," writes Obama for America Policy Director James Kvaal in an "interested parties" memo released to the press before Perry unveiled the details of his plan. "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."

The plans "share elements with plans offered by congressional Republicans, which independent economists believe would fail to accelerate job creation now," continues Kvaal. "Both plans would cut taxes on wealth and investment income, shifting the tax burden onto work and wages. Both plans are likely to be costly, driving up the deficit at a time of historic fiscal challenges. And under both plans, the most fortunate Americans would pay less while the middle class would pay a higher share."

The attack is the latest signal that the Obama campaign plans to cast the GOP nominee as favoring the rich over the middle class. With the economy still sputtering, the re-election team is determined to put the electorate's focus on the GOP's candidate and keep the election from being a referendum on the incumbent.

The Obama campaign has largely focused on Romneyin its attacks thus far, with occasional shots at Perry but little to no mention of the other GOP candidates. It's worth noting that Kvaal's memo doesn't mention Herman Cain, whose tax plan is also susceptible to the charge of cutting taxes for the rich while raising them for the middle class. While Cain is at or near the top of many polls of the Republican candidates, most political insiders do not see him as likely to win the nomination.

The full memo is below.

REPUBLICAN PLANS SHIFT TAXES FROM WEALTHIEST HOUSEHOLDS ONTO THE MIDDLE CLASS

For years before the economic crisis, the economy grew while middle class families struggled with stagnant wages, sluggish job growth, and greater economic insecurity. While those at the top did well, middle class families worked harder and harder and kept falling behind. Getting Americans back to work is job one, but our work doesn't end there. We have to create more opportunities for families to work hard and get ahead. This will require investing in education, innovation, and infrastructure--the types of investments that create jobs today and restore middle class security.

It's time to focus on the basic values that have always been at the heart of American prosperity: making sure that hard work pays, responsibility is rewarded and everyone from Main Street to Wall Street does their fair share. We cannot restore shared prosperity and middle class security by returning to the failed strategies of the past that say that everything will be fine if we just give another tax cut, special break or additional benefit to those at the top. Those strategies have failed and the overwhelming majority of Americans have been coping with the negative consequences of those policies for a decade.

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.

Both the Romney and Perry economic plans embrace a far-right vision for our tax code. They share elements with plans offered by congressional Republicans, which independent economists believe would fail to accelerate job creation now. Both plans would cut taxes on wealth and investment income, shifting the tax burden onto work and wages. Both plans are likely to be costly, driving up the deficit at a time of historic fiscal challenges. And under both plans, the most fortunate Americans would pay less while the middle class would pay a higher share.


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