DamianTV
05-21-2014, 04:26 PM
http://rt.com/usa/159996-ron-paul-liberty-tax-code/
The new tax reform plan recently unveiled by Republican lawmakers may lower some tax rates in the United States, but without reducing government spending former lawmaker Ron Paul believes American liberties are at risk.
In a new column published by the Ron Paul Institute for Peace and Prosperity, the former libertarian Congressman criticized the Republican-proposed Tax Reform Act of 2014 for attempting to lower rates but maintain current spending and revenue intake levels. Without substantial spending reform, Paul stated the government would continue to waste money that would be more efficiently used by individuals.
Proposed by Rep. Dave Camp (R-Mich.) earlier this year, the new Tax Reform Act would cut the top income tax rate from 39.6 percent to 25 percent, making up for the lost revenue by closing some loopholes and establishing a 10 percent surtax on various types of income over $450,000.
According to the Washington Post, Camp believes the new tax code would offer “a simpler code that lowers rates and collects roughly the same amount of money for the government — all without burdening the poor or unduly benefiting the rich.”
...
Continues on link...
The new tax reform plan recently unveiled by Republican lawmakers may lower some tax rates in the United States, but without reducing government spending former lawmaker Ron Paul believes American liberties are at risk.
In a new column published by the Ron Paul Institute for Peace and Prosperity, the former libertarian Congressman criticized the Republican-proposed Tax Reform Act of 2014 for attempting to lower rates but maintain current spending and revenue intake levels. Without substantial spending reform, Paul stated the government would continue to waste money that would be more efficiently used by individuals.
Proposed by Rep. Dave Camp (R-Mich.) earlier this year, the new Tax Reform Act would cut the top income tax rate from 39.6 percent to 25 percent, making up for the lost revenue by closing some loopholes and establishing a 10 percent surtax on various types of income over $450,000.
According to the Washington Post, Camp believes the new tax code would offer “a simpler code that lowers rates and collects roughly the same amount of money for the government — all without burdening the poor or unduly benefiting the rich.”
...
Continues on link...