The Giuliani “Fast Form”
Rudy Giuliani unveiled today in Florida a plan to provide the largest tax cut in American history.
The Giuliani tax cut plan would extend the 2001 and 2003 tax cuts immediately; eliminate the Death Tax completely; lower the capital gains and dividends tax rate to 10% and index capital gains to inflation; lower the corporate tax rate from 35% to 25%; and permanently index the Alternative Minimum Tax to inflation with a plan for eventual elimination.
The Giuliani tax cut plan also contains a particularly bold pro-growth tax simplification strategy that would give taxpayers the option of opting into a simple tax plan in which their taxes could be done on one page. Instead of the current tax behemoth, the voluntary tax plan would constitute across the board cuts in marginal tax rates by proposing three simple rates of 10%, 15%, and 30%.
Flap doesn’t know if this is the largest tax cut in the history of America but it does make it simpler, retains progessivity and allows Americans to keep more of their hard earned cash. It is a bold innovative plan that coupled with cuts in federal spending will be growth inducing.
Flap understands that Rudy will have a sample “Fast Form” at his web site: JoinRudy2008.com soon where the taxpayer can enter their own numbers to estimate their taxes under this plan.
A letter from Grover Norquist of the Americans for Tax Reform: