Rick Perry unveiled his tax reform plan today that would allow Americans to choose between their current income tax rate and a flat tax of 20 percent, calling it “Cut, Balance, and Grow,” reports Fox News.

"We are on the way to ruin paved by state serfdom," Perry said during his announcement in Gray Court, South Carolina.

“My plan restores American competitiveness in the global marketplace and provides strong incentives for U.S. – based employers to build new factories and create thousands of jobs here at home,” Perry said in an article published online in The Wall Street Journal.

Perry's plan would “scrap the current tax code, lower and simplify tax rates, cut spending and balance the federal budget, reform entitlements, and grow jobs and economic opportunity.”