Economy

Perry Brags About Texas’ Tax System That Charges The Poor Four Times As Much As The Rich

Texas Gov. Rick Perry (R) was on the campaign trail in Newton, Iowa today, reviving his stump speech promise to make government “as inconsequential in your life as I can.” At one point, Perry bragged about the Texas tax system and its light burden on “job creators”:

We had a tax policy in place that allowed for our job creators to not be burdened, still delivering the services that the people desire in the state of Texas. So have a tax policy that is as light on the job creators as we can.

Watch it:

As Matt Yglesias has noted, in reality Perry’s tax system “has done a great job of soaking the poor.” In fact, according to the Institute on Taxation and Economic Policy, someone in the poorest 20 percent of Texans can expect to face a tax rate four times as high as a Texan in the richest 1 percent:

This isn’t really surprising, considering that Perry believes that the poor and seniors don’t pay enough in taxes. At the same time, Perry has admitted that higher taxes on millionaires and billionaires “isn’t going to affect anything” in terms of economic growth.