GOP presidential hopeful Rick Perry, who is looking to to lift his poll numbers, today rolled out an economic plan that includes a proposal for a flat tax.
The flat tax would allow people to pay one tax rate of 20 percent. However, people could opt out of that rate if they prefer their current rate.
His plan also would also eliminate the estate tax and end taxes on Social Security income.
Perry is branding the proposal "Cut, Balance, and Grow."
- Jay Newton-Small, reporter for Time magazine
This segment aired on October 25, 2011.