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…are nothing new from this Republican American Taliban member that have not already been tried and proven to have failed. You know the pitch: less taxes, permanent placement of the Bush/Obama tax cuts which will expire ( hopefully ) in 2012, and so forth.
Newt also has a plan that will make the United States the most desirable place in the world for new business investment. Guess what the ideas entail?
… a bold series of tax cuts, including: Eliminating the capital gains tax to make American entrepreneurs more competitive against those in other countries; Dramatically reducing the corporate income tax (the highest in the world) to 12.5%; Allowing for 100% expensing of new equipment to spur innovation and American manufacturing; Ending the death tax permanently.
A corporate income tax rate of 12.5%? Give me a break! The majority of businesses in America already pay little or no tax. What does another tax break do for a business that already pays zero?
But wait! There’s more!
Move toward an optional flat tax of 15% that would allow Americans the freedom to choose to file their taxes on a postcard, saving hundreds of billions in unnecessary costs each year.
Yes, and most of that lost revenue would be made up in a vast assortment of fees because the public hasn’t figured out that those fees are taxes in a different form. You are more than likely paying more in fees that you are in regular taxes.
The Newt has many more ideas to help big business while putting the major burdens on the average Joe.
Read some more of his ideas here, the Gingrich site.
