AmeriCAN-DO Attitude

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Rudy Giuliani’s New Tax Plan

Is it time to take another serious look at Rudy Giuliani for the GOP Presidential nomination? This is a very convincing argument for those of us who are fiscal conservatives: Rudy’s New Tax Plan Unveiled

As Rudy’s campaign manager told me the other day in New Hampshire, Rudy Giuliani has a strategy to stay relevant between now and February 5th. Today he unveils his tax plan — and boy what a plan it is!

Here are a few of the things Rudy’s plan would do:

… 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).

It’s an optional tax plan. You can pick it or the current tax code. Unlike Thompson plan, you can opt in and out any year. For major deduction remain:

* Mortgage
* Charitable
* State and Local taxes
* Child tax credit

According to one economic expert I talked to: “This plan would be huge. It would be 4% of GDP. By comparison, GWB tax cut was 1.3% of GDP. Reagan’s was 1.9% of GDP.”

In my opinion, Rudy Giuliani is wrong on abortion, wrong on the homosexual agenda and wrong on the 2nd Amendment. He is also wrong on illegal immigration, a BIG no-no when it comes to my vote.

BUT… this is something that will make me take a serious 2nd look at Rudy Giuliani and weigh the pros and cons of him leading the Republican Party. I’m still not convinced, but what would be highly intriguing would be a Thompson/Giuliani ticket. That would be pretty, strong in my opinion.

January 9, 2008 , 10:03PM - Posted by | 2008 Presidential Election, Rudy Giuliani, Taxes

1 Comment

  1. […] Thompson Plan to Reduce Federal Government Spending Imagine Rudy Giuliani’s great tax plan coupled with this plan to reduce government spending by Fred Thompson. Should be music to the […]

    Pingback by Fred Thompson Plan to Reduce Federal Government Spending « AmeriCAN-DO Attitude | January 10, 2008 , 9:17PM

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