morning. captions by vitac www.vitac.com good morning. good morning, alina. good morning, everybody. welcome to american morning. it is tuesday october 25th. i m alina cho along with carol costello. ali and christine are off today. up first this morning, presidential politics as texas governor rick perry trying to one-up herman cain s 9-9-9 plan and get back the good graces of gop voters. this morning perry will unveil his economic growth plan that includes a flat tax. cnn deputy political director paul steinhauser joins us from washington with more details. he has this 20% flat tax, but taxpayers is actually opt out if they like their tax rate better? reporter: yeah, and banking on most americans not liking the way they have their taxes right now and hoping for some of that 9-9-9 that boosted herman cain from an afterthought to a front-runner in the gop nomination. yes, basically this morning the texas governor rick perry unvams his plan. cut, balance and gr
his idol. i said, mr. sin rat ra, you hit this high a flat on this particular song. how did you do it? i just opened my mouth and it was there. you know? this is piers morgan tonight. i take you just the way you are harry connick jr., welcome. thank you. you are a man of so many hats it s almost ridiculous. a singer, pianist, big band conductor, a composer, an actor, three grammys, 25 million albums sold worldwide. you starred in a broadway musical. on a clear day you can see forever which opens in december. and you have a children s book. not content with dominating every other genre of entertainment, you re into the kids market. i guess what makes me want to do this stuff is that i guess what drives me is real interest in all these different areas. it was never really about i know you were joking about dominating these areas, but it s never really been about that for me. you know, things kind of happen organically, and broadway sort of happened out o
i m wolf blitzer. you re in the situation room. captions by vitac www.vitac.com he s plunging in the polls and in need of a boost. will a new plan help rick perry climb back to the top of the republican race? his rival, herman cain, is leading the pack according to a brand new poll and perry is a distant fifth with cain apparently benefitting from his 9-9-9 tax plan, perry today unveiled his own new tax plan and 20 is the magic number. he proposes a flat tax of 20% for individuals and corporations, but in a twist, perry would let people choose to pay his flat tax rate or file under the current system, which he derived. the size of the current code is more than 72,000 pages. that s represented by this palate right over here and the reams of paper. that s what the current tax code looks like. the best representation of my plan is this postcard. this is is size of what we re talking about right here. taxpayers will be able to fill this out and file their taxes on that.
his idol. i said, mr. sin rat ra, you hit this high a flat on this particular song. how did you do it? i just opened my mouth and it was there. you know? this is piers morgan tonight. i take you just the way you are harry connick jr., welcome. thank you. you are a man of so many hats it s almost ridiculous. a singer, pianist, big band conductor, a composer, an actor, three grammys, 25 million albums sold worldwide. you starred in a broadway musical. on a clear day you can see forever which opens in december. and you have a children s book. not content with dominating every other genre of entertainment, you re into the kids market. i guess what makes me want to do this stuff is that i guess what drives me is real interest in all these different areas. it was never really about i know you were joking about dominating these areas, but it s never really been about that for me. you know, things kind of happen organically, and broadway sort of happened out o
outfront tonight, a flat tax from presidential candidate, rick perry. it is time to pass a tax that is flat and fair and frees our employers and people to invested and grow and prosper. he calls it flat. bottom line is it isn t really. the right word is sort of lumpy. here s why. a true flat tax means all americans start paying a flat tax of 20%. that s perry s rate on their income with no deductions. that s not how this works. you keep your current rate or pick his new 20% rate. by allowing people to remain in their current tax bracket, americans will continue to pay different rates. there are six federal income tax rates right now. perry s new plan because we don t have a 20 will make it seven. that s lumpy. a poor flat tax doesn t allow for deductions. capital dividends, state and local taxes. we re joking a little. we all want bold ideas and politically you can t wake up and throw out and old system and go to a truly flat tax if you wanted one overnight. to tell you t