Newt Gingrich has suggested a flat tax rate of 15 percent, which he now proposes to call the “Romney Tax.” But Newt Gingrich's proposal won't happen because a complex tax code provides cover in which to hide special favors and privileges for the rich.
Romney's 15 percent is the going rate on capital gains and dividends, which is where he gets the bulk of his income (along with many others in the top income brackets).
Santorum would cut taxes for nearly all households making $40,000 or more. But the impact on the deficit would be enormous: Santorum would cut taxes by roughly $1 trillion in 2015 alone.
If states were characters from Aesop’s Fables, they’d be more grasshopper than ant. With a little help from the federal government, maybe more states could find their inner ant.
While lower-wage workers get less of a tax benefit than their higher-paid colleagues, their wages fall by much less for every dollar their employer contributes to their retirement plan.
Mitt Romney’s tax plan would cut taxes for millions of households but bestow most of its benefits on those with the highest incomes. At the same time, it would significantly cut corporate taxes and add hundreds of billions of dollars to the deficit.
Over the past 50 years, America's poltical think tanks have shifted towards political combat and away from nonpartisan research.
Rick Santorum's tax agenda would lower rates for individuals and corporations, substantially cut taxes on capital, and increase the personal exemption for dependent children. Like those of his GOP rivals, Rick Santorum's plan would likely add trillions to the federal deficit.
With more than 13 million Americans out of work and wage increases so modest they’re failing to keep up with inflation, voters have put the economy and jobs at the top of their checklist of presidential issues. The Republican candidates all share the same broad approach: Spur private-sector confidence and job creation through permanent tax cuts, reduced federal deficits, and lighter regulatory burdens on businesses. In the same vein, they generally call for efforts to boost trade, encourage domestic oil and gas production, and limit the power of organized labor. But who has the best economic plan?