Giuliani Blog Tracking the likely Presidential candidacy of Rudy Giuliani

Wednesday, January 09, 2008

Rudy Giuliani Unveils His Tax Plan

Cross Posted from the FullosseousFlap's Dental Blog

Mayor Rudy Giuliani sat down with the Fox Business Network’s Neil Cavuto and talked about his plan for the biggest tax cut in American history. In addition to cutting the capital gains from 15% to 10% and slashing the corporate tax from 35% to 25%, Rudy said that his plan would provide much needed tax relief for individuals across all income levels.

Again, some of the specifics:

  • Make permanent the bush tax cuts NOW…not in 2010
  • Permanently index the alternative minimum tax (AMT) and then eliminate it when practical (no timetable)
  • Get rid of the Death Tax
  • Lower the capitol gains and dividend rate to 10% and index to inflation. (Here is where he could go further and actually eliminate the capitol gains tax)
  • Lower corporate tax rate from 35% to 25%
  • Trio of tax free savings accounts – Roth style – available to ALL income classes
  • Tax simplication strategy – one page tax return
  • Three rates – 10% (40k), 15% (150k), and 30% (150k )

The interactive FAST (Fair and Simple Tax) Form that Flap promised is here. Go check it out……

Even more details of the Plan are here.

Pat Toomey of the Club for Growth has praised the plan:

“Giuliani’s tax cut plan will encourage capital formation, and capital is the key driver of productivity, higher wages, and a better standard of living for all Americans,” Mr. Toomey continued. “He does that by not only lowering the capital gains and dividends rates, but also by indexing capital gains to inflation. Also, the Mayor’s plan dramatically lowers marginal tax rates at the personal and corporate level, which will encourage a significant burst of economic activity and growth.”

“The current U.S. tax code is a monstrosity of inefficiency and deterrence, with some of the highest corporate tax rates in the developed world and a tax code that totals more than 66,000 pages. Mayor Giuliani’s tax cut proposal today would dramatically move the American tax code and economy in the right direction. This is exactly the kind of plan economic conservatives should embrace.”

And, what Flap likes are the lowering of the marginal rates and the optional filing of the FAST (Fair and Simple Tax) form. If your taxes are lower using the conventional 1040 then you have the option every year to choose the method of filing that is the best and lowest for you.

Steve Forbes comments on the tax plan in the following video:

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At 12:08 PM, Blogger KW64 said...

If as the voter surveys say, "its the economy stupid" this proposal should get big attention because it would clearly invite more investment and initiative. Lets see if the MSM buries it so that no one hears about it.

At 12:16 PM, Blogger Buddhak0n said...

Ok folks.. time to GET ON POINT.

Rudy needs to GET ON POINT... the Economy.. the Economy .. the Economy...

These Political Media INSIDERS are trying to tell people that Because Rudy isn't big in IOWA and South Carolina... that he's out of the picture.

This is ABSURD.. the BEST ECONOMIC Record in the race is RUDY's...

USE IT... Don't be afraid of big city backlash. SHOW what he has done...

Frankly I'm a bit disappointed in the performance of Rudy's "support" team.. his speech writers and handlers have not done well these few weeks.

At 1:01 AM, Blogger sapience said...

hi i am Acruz Rudy Giuliani unevils his tax plan is his wish and it's economy that clearly invite more investmentand initiative
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At 12:57 PM, Blogger Superb Jon said...

AP October 24, 1994, Monday Republican Mayor Rudolph Giuliani rejected his own party's candidate for governor Monday and threw his support behind embattled Democrat Mario Cuomo's bid for a fourth term. . . The mayor had repeatedly said he was concerned that Pataki's plan to cut New York's state income tax by 25 percent over four years might mean less state aid to the city even though Pataki had vowed that it wouldn't. . . The Republican mayor told the City Hall news conference he was aware he was taking a risk by endorsing a Democrat, but added: "Mario Cuomo will simply be a better governor than George Pataki."

AP August 19, 1994 Giuliani, a former federal prosecutor elected mayor last fall, stood on a stage with Clinton in Minneapolis last week and applauded after the president ripped congressional Republicans who derailed the bill.

AP February 8, 2000 Giuliani has routinely run for mayor with Liberal Party backing. . . "He's wrong on domestic partners, he's wrong on gays in the military, he's wrong on gay rights, he's wrong on rent control, he's wrong on ... we could just go on and on and on," Long said.

AP March 3, 1997 Mayor Rudolph Giuliani, who enjoys his role as a tough politician, stunned friends and foes alike as he gamboled before 2,000 people at a black-tie affair dressed as a woman. . . Giuliani called his feminine alter ego "Rudia." Giuliani, running for a second term this year, remarked that he is "a Republican pretending to be a Democrat pretending to be a Republican."

AP June 28, 2001 Mayor Rudolph Giuliani, in an effort to escape the strains of his divorce, has forsaken Gracie Mansion for the refuge of a close friend's high-rise apartment, according to published reports. . . The East Side apartment is owned by the mayor's friend, Howard Koeppel, a [homosexual] Queens car dealer and mayoral fund-raiser

UPI February 24, 1982 Mayor Edward Koch, who now wants to run for governor and will need upstate support to win, says living in the suburbs is ''sterile,'' and rural life is a ''joke.'' Koch made the comments in an interview with Playboy magazine . . . Questioned about time wasted in city subways, Koch replied, ''As opposed to wasting time in a car? Or out in the country, wasting time in a pickup truck when you have to drive 20 miles to buy a gingham dress or a Sears Roebuck suit?''

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