Rick Perry to Unveil Flat Tax Proposal

In an attempt to further distance himself from his rival, former Massachusetts Gov. Mitt Romney, Texas Gov. Rick Perry said he will soon lay out details of his flat tax plan.

For weeks, Perry has kept the cards detailing his economic-recovery package close to the chest, but said his plan will focus on completely overhauling the current tax code - a move, he says, that will create jobs and jumpstart economic growth.

It starts with scrapping the three million words of the current tax code, and starting over with something much simpler: a flat tax, Perry said, speaking at the Western Leadership Conference in Las Vegas Wednesday.

Aides said Perry would detail his flat-tax plan Tuesday in a speech in South Carolina, where he announced his presidential candidacy two months ago. Perry also took a swipe at Treasury Secretary Tim Geithner, who controversially, in 2009, failed to pay self-employment taxes while working for the International Monetary Fund.

I want to make the tax code so simple that even Timothy Geithner can file his taxes on time, Perry said.

A Simpler Flat Tax

Perry's plan differs from those of GOP competitors in that, unlike Romney's 59-point economic plan, Perry's is much simpler. And compared to former Godfather's Pizza CEO Herman Cain, Perry's plan is an easy-to-understand alternative, the San Francisco Chronicle reported.

The flat tax is fairly simple and easier to explain, which may help Perry who to date has failed to make a coherent case for why he's better on the economy than his rivals with private sector experience like Romney and Cain, said Sarah Huckabee, a Republican operative who headed former Minnesota Gov. Tim Pawlenty's Iowa presidential bid earlier this year.

Without offering the specifics, Perry outlined some broader elements of his plan, including an initiative to increase American energy production, and cutting down on Congressional earmarks.

But let me be even more clear: my plan ends earmarks for good, Perry said. It's time to bring tough medicine to Washington. No longer will policy be set by K Street, it will be dictated by Main Street.