South Carolina Congressman Mick Mulvaney says he’s supporting Rick Perry and his flat tax plan in the Republican presidential primary.
Mulvaney says he and the Texas governor have similar beliefs on the budget and taxes.
The Fifth District congressman says he’s been helping Perry develop his 20-percent flat tax plan, which was unveiled earlier this week at the State House in Columbia.
A recent poll in South Carolina shows Perry is running third behind Herman Cain and Mitt Romney.
Mulvaney told Greenwood Affiliate WLMA that Perry’s plan has been successful elsewhere.
“It’s actually modeled after a system that has been tremendously successful in Hong Kong and about 90 percent of the people there opt into the flat tax,” said Mulvaney.
“That system…in Hong Kong generates almost as much revenue as a percentage of GDP as our unusually bizarre system does in the United States.”
Mulvaney says that Perry’s plan will give people the choice to opt into the flat tax or pay their taxes under the current system.
He also says President Obama’s mortgage assistance program has failed.
Earlier this week the Obama Administration announced new rules that would offer incentives to banks to refinance the loans of people who owe more than their house is worth.
It’s hoped the changes will offer home owners some debt relief.
However, Mulvaney says the program has been a “dismal failure.”
“It’s easy to explain to people who are hurting, ‘look I’m going to give you money and it’s going to make your life better,’” said Mulvaney.
“That’s an easy message for people to deliver and that’s what the president is out there delivering. It’s a much more difficult message, but I think a much more substantive message to say look, ‘we’re going to have to fix the system in order for it to get better.’”
Specific details of the president’s new mortgage assistance program have not yet been released.
But Mulvaney says it’s a mistake to invest more money in the program, when it didn’t work the first time. He’s government overspending will only harm future generations.
Anne Eller of affiliate WLMA contributed to this article.