Cato: Rating GOP Candidates on Taxes

[lx43]

Anyone know what he proposes to cut?



http://www.cato.org/publications/com...ntenders-taxes



Rand Paul posted a detailed plan on his campaign website a couple of months ago, but he has since taken it down amid reports that he is revising it to lower rates even further. As originally posted, Paul’s plan would establish a 17 percent flat tax; however, he is reportedly working with Stephen Moore of the Heritage Foundation and others to bring that rate down to as low as 13 or 14 percent. The plan would also include a personal exemption, unlike most flat-tax plans, thereby lowering the effective tax rate still further. The size of the exemption was not spelled out, but according to some reports it could be as much as 20 percent. Capital gains, interest, and dividends would all be untaxed. The estate, gift, and alternative minimum taxes would all be eliminated. Paul also plans a payroll-tax exemption for low- and middle-income earners, though he has not provided details, and such a cut could complicate financing for Social Security. And Paul also proposes even larger tax cuts for high-poverty areas. Paul himself estimates that his plan would reduce revenue by about $700 billion per year, though he intends to propose spending cuts to offset the loss. Paul’s foreign policy came under attack recently as “Barack Obama’s third term,” but he certainly isn’t pursuing Obama’s tax policies.

[Crashland]

Tax plan sounds like nothing but red meat for the base. No chance in hell anything even close to that will pass

[lx43]

Tax plan sounds like nothing but red meat for the base. No chance in hell anything even close to that will pass

One would hope he could get a massive tax cut and spending cut passed if he becomes Pres.

[Crashland]

One would hope he could get a massive tax cut and spending cut passed if he becomes Pres.

I would focus on the spending cut not the tax cut. Spending is the same thing as future taxes.

[Brett85]

I would focus on the spending cut not the tax cut. Spending is the same thing as future taxes.

Me too. Focusing on tax cuts will help Rand in the primary, but if he actually became President I would much rather have him focus on cutting spending than on cutting taxes.

[lx43]

I would focus on the spending cut not the tax cut. Spending is the same thing as future taxes.

Agreed that why I said in my OP "anyone know what he proposes to cut?"

[Crashland]

Agreed that why I said in my OP "anyone know what he proposes to cut?"

He has talked about wasteful pork, foreign aid, and about eliminating entire departments (education, commerce), which can be quite popular with the base. But with spending cuts as well it will be hard to get him to say much about cuts that are actually meaningful in terms of $$$ saved. And right now the only cuts that can be meaningful are social security, medicare, and defense. Rand supports an audit of the Pentagon which could lead to defense cuts. Social security and Medicare though are the other giant elephants in the room. The over-40 generation thinks they are entitled to receive all of the money they already paid into the system even though the younger generation will only see pennies on the dollars that they paid in because of the government's fiscal irresponsibility. It will be quite the political feat if Rand can make America swallow the bad news and change the system.

[Krugminator2]

Agreed that why I said in my OP "anyone know what he proposes to cut?"

This outlines what he has proposed and had voted on the past. http://crfb.org/blogs/sen-rand-paul-...-spending-cuts

Spending is what matters. Supply side economics is just warmed over Keynesianism as Ron Paul said. Cutting tax rates was the right policy in 1982 to improve incentives. It is not a huge deal now. I wish Rand would not listen to people like Steve Moore.

[Brett85]

This outlines what he has proposed and had voted on the past. http://crfb.org/blogs/sen-rand-paul-...-spending-cuts

Spending is what matters. Supply side economics is just warmed over Keynesianism as Ron Paul said. Cutting tax rates was the right policy in 1982 to improve incentives. It is not a huge deal now. I wish Rand would not listen to people like Steve Moore.

It helps refute the ridiculous nonsense about Rand being "Obama's third term" or whatever. But like I said, I hope that Rand forgets about this and focuses on cutting spending if he becomes President. Even Ron's budget that he introduced that cut a trillion dollars in one year left the tax rates where they're at right now.

[jaymur]

I think those are brought into existence by the executive branch. I would think he can reduce departments without needing congress to go along. Reminds me of the Big Dogs Ron Paul ad. "That's how Ron Paul rolls."

Anyone know what he proposes to cut?



http://www.cato.org/publications/com...ntenders-taxes



Rand Paul posted a detailed plan on his campaign website a couple of months ago, but he has since taken it down amid reports that he is revising it to lower rates even further. As originally posted, Paul’s plan would establish a 17 percent flat tax; however, he is reportedly working with Stephen Moore of the Heritage Foundation and others to bring that rate down to as low as 13 or 14 percent. The plan would also include a personal exemption, unlike most flat-tax plans, thereby lowering the effective tax rate still further. The size of the exemption was not spelled out, but according to some reports it could be as much as 20 percent. Capital gains, interest, and dividends would all be untaxed. The estate, gift, and alternative minimum taxes would all be eliminated. Paul also plans a payroll-tax exemption for low- and middle-income earners, though he has not provided details, and such a cut could complicate financing for Social Security. And Paul also proposes even larger tax cuts for high-poverty areas. Paul himself estimates that his plan would reduce revenue by about $700 billion per year, though he intends to propose spending cuts to offset the loss. Paul’s foreign policy came under attack recently as “Barack Obama’s third term,” but he certainly isn’t pursuing Obama’s tax policies.

[idiom]

America, you have already spent your tax cuts. What do you think that debt is??!