Rand Paul’s Fair And Flat Tax

Published on Jun 18, 2015

Dr. Rand Paul is running for President to restore liberty, defeat the Washington machine, and unleash the American Dream for ourselves and for future generations.

Here is the basis of Libertarianism – a smaller government with less regulations and lower taxes. The only way to stop the pork barrel politics and the Santa Clauses in the Federal government is to limit the taxes we, the American people, give them.

The best way to unleash an avalanche of economic growth, good paying jobs and American prosperity is to put more money in the hands of the American people and less money in the hands of corrupt politicians.

Paul proposes the largest tax cut in American history, saving $2 trillion in ten years.


NewsMax reports:

“We have a 70,000-page tax code and we’re chasing businesses overseas,” the Republican lawmaker, also a candidate for the presidency, told Fox News. “We’re chasing Burger King to Canada. Every day there’s a new company reincorporating somewhere else.”
Paul said his plan would allow a 14.5 percent flat tax for businesses and individuals, while getting rid of payroll taxes for working class Americans.

“This would be the biggest proposal of any candidate so far,” Paul told Fox News. “It would be the largest tax reduction in our history. Let’s have the debate in our country [about where] money is better spent. Is it better spent by people that earned it or [by] sending it to Washington.”

Paul said his plan will also keep the mortgage and charitable deductions, while not allowing any wealthy corporations or people to get away with paying no taxes.

In an opinion piece he wrote for The Wall Street Journal on Wednesday, Paul said President Barack Obama’s middle-class economics plan’s policies “have led to rising income inequality and negative income gains for families.

“Here’s what I propose for the middle class: The Fair and Flat Tax eliminates payroll taxes, which are seized by the IRS from a worker’s paychecks before a family ever sees the money. This will boost the incentive for employers to hire more workers, and raise after-tax income by at least 15% over 10 years,” Paul wrote.

In the column, Paul also said his plan “would blow up the tax code and start over.”

He said he’s consulted with the Heritage Foundation’s Stephen Moore, former presidential candidate Steve Forbes, who ran and lost on the flat-tax idea, and Reagan economist Arthur Laffer, to come up with a “21st-century tax code that would establish a 14.5% flat-rate tax applied equally to all personal income, including wages, salaries, dividends, capital gains, rents and interest.

“All deductions except for a mortgage and charities would be eliminated.”

Further, he said under his plan, “the first $50,000 of income for a family of four would not be taxed,” and “for low-income working families, the plan would retain the earned-income tax credit.”



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