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governor rick perry is proposing giving you taxpayers a choice. essentially you can pay your current income tax rate under this code or skip the accountants and software and pay a 20% flat tax rate. the bottom line, most americans choose a 20%, and at the least this would amount to a tax cut for the wealthy. candy crowley is the chief police kp correspondent, and anchor of "state of the union" on cnn. no one is sure what romney's proposal is, whether it's economically sound. after herman cain's success for getting attention for the 9-9-9 tax plan i can see why perry seized on the ide...

unexpected, no question about it. but this has to be startling. >> i have to say that things don't shock me. i was shocked by this. >> reporter: did your heart skip a beat? could you -- what happened? >> i don't know. i think i called home and said, i'm coming home. i'm stopping my errands for saturday and first i thought that she should come get me, my wife should come get me, and i said, no, the car's drivable, but no back window. >> reporter: you were out here for about 36 hours or so without power. finally the power's back up. we take for granted so much what it's like to have el...

i'm ali velshi. welcome to "your money." rick perry is proposing give you a tax choice. currently you can pay it under the cold or pay a 20% flat tax rate. the bottom line, most americans choose a 20%, and at the least this would amount to a tax cut for the wealthy. candy crowley is the chief political course it dent and anchor of "state of the union" on cnn. no one is sure what romney's proposal is, whether it's economically sound. after herman cain's success for getting attention for the 9-9-9 tax plan i can see why perry seized on the idea of a simple tax. i'm not clear on whether...

The numbers, and the deal itself, the issue -- you talk to former executives at goldman sachs, which i've done, they're saying essentially, don't think of it just in the terms that the very faressor have to tear a hair cut, he says that's not the issue. what you've got to look at is growth in italy, growth in greece, growth in spain, and their debt load as it compare toss their gdp, and when you think about t. greece -- >> bill: they're in trouble. >> that's right. greece has, what, 12 million people, $300 billion in debt. and when you look at italy, italy has 60 million people, $2.6 trillion ...

I'm going to cut them a little slack, because all the public statements they're going to make now belie the fact that they're going to have to compromise if they're going to come up with something. and my hope would be that they would come up with something. whatever it is, if it's small, we're going to have to turn around as soon as that's done and then start doing the next large deal, because we have to ring $9 trillion out of our government over the next ten years to get in a position where we can afford the debt we have today. >> and that, your goal -- you say $9 trillion with the goal of ...