January 10, 2008

WHEN YOU CAN'T AFFORD TO TALK ABOUT SOCIAL ISSUES OR PERSONAL PROBLEMS...:

Giuliani's Shock-and-Awe Tax Plan (James Pethokoukis, 1/10/08, US News)

[R]udy Giuliani's $6 trillion tax plan...would be the largest tax cut in the history of the American republic. Actually, of any republic—ours, Rome's, Greece's. Just huge:

$6.3 trillion over 10 years.

Make permanent the Bush tax cuts NOW...not in 2010

Permanently index AMT and then eliminate it when practical (no timetable).

Get rid of the Death Tax

Lower cap gains and dividend rate to 10% and index to inflation.

Lower corp rate from 35% to 25%.

Trio of tax free savings accounts—Roth style—available to ALL income classes.

* Retirement account ($5000 year/single, $10k year/couple, draw only at retirement)
* General account (same limits, available at any time for any reason)
* Lifetime skills account (only for education, job training, $1000 year/single)

Tax simplification strategy—one page tax return

Three rates—10% (40k), 15% (150k), and 30% (150k+). [...]

This plan would be huge. It would be 4% of GDP. By comparison, [the George W. Bush] tax cut was 1.3% of GDP. Reagan's was 1.9% of GDP.


...it's not a bad idea to drown them out with a nuclear blast.

Posted by Orrin Judd at January 10, 2008 12:19 PM
Comments

At least he has the sense not to try to buy our votes for an insultingly low price.

Posted by: Brandon at January 10, 2008 2:53 PM

"Actually, of any republic—ours, Rome's, Greece's."

What a breathtakingly moronic statement. What exactly was the GDP of Greece? What exactly was the tax income of Rome? Good grief.

Posted by: b at January 10, 2008 3:13 PM

Giuliani is going to use his dictatorial presidential power to impose a tax cut by fiat.

Posted by: ic at January 10, 2008 3:53 PM

Well budget plans need to be balanced. With the triming of all this revenue I wonder how we plan on achieving that.

Robert
The Issue | www.TheIssue.com

Posted by: Robert at January 10, 2008 5:53 PM

If the above were all a President accomplish in term, they'd go down top five ranking with little dispute.

Posted by: Perry at January 10, 2008 7:07 PM

Why would you balance the budget? It just retards the economy needlessly.

Posted by: oj at January 10, 2008 9:04 PM
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