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Tax and look towards a long-term goal of a flatter, fairer, simpler tax structure, romney says and lower the corporate income tax rate from 35% to 25%. rick perry's announcement of his optional 20% flat tax comes on the heels of him endorsing it. he proposed a 17% flat tax and advising perry on putting together this plan. perry will talk more in depth about the plan in south carolina and you guys in new york know that's going to be key for him because this is the first in the south primary next year. >> thank you very much for that report. it's interesting when we start to compare them. will m...

Stop? >> if you've noticed any of the large stops on interstates, they pull in and don't just gas up with diesel fuel. a lot of times they'll park there for the night and sleep six or eight hours and they have to keep the engines running to either cool themselves in the summertime or heat themselves in the winter time. this would replace that with electricity so that you wouldn't be polluting the atmosphere and it was a good plan. i mean the idea is a good idea. but the problem here is the lack of vetting russian money out the door. this was only 1/10 of the amount of the solyndra loan which i...

Balance and grow plan later on today. but will people go for it? stuart varney joins us live. stuart, it sounds like it is going to be according to what we read in "the wall street journal", a 20% flat tax. >> yes, it is. now you ask the question will people go for it? the point is they have a choice. if this plan is passed from governor perry, then people will have a choice. do you want to go with the old system? your old tax rate? or do you want to accept the new 20% flat tax rate? i think that makes it more politically attractive, more easy to pass politically because you're not forcing any...

>> i think america has really, really tight regulations and really, really lax regulations, but i'm still sure the financial system of the world is based in new york. where are these people running to? >> to london and tokyo. if that's called offline. >> but trust me, london is a great place to do business in the finance world. >> london bank rules, are they tighter than hours? >> yes. let me move to another subject, just for the interest of time. >> i love the pope, though, his shoes. >> i actually happen to be catholic, so let's watch that next time, a little bit. >> i don't give a damn abou...

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 fi...