Skip to comments.Flat Chance (Fred and Huck's Tax Plans)
Posted on 12/10/2007 8:09:06 PM PST by 2ndDivisionVet
Gigot: Well, Fred Thompson has his flat tax, and Mike Huckabee has his fair tax. But who's got the better idea, and what are the other GOP presidential hopefuls proposing? Here with a closer look at the candidates' tax plans, Wall Street Journal columnist and deputy editor Dan Henninger, assistant editor James Freeman, Washington columnist Kim Strassel and senior economics writer Steve Moore.
So, Steve, Fred Thompson has embraced this so-called voluntary flat tax plan. You like it, I kind of like it. Tell our viewers why.
Moore: Well, the flat tax is happening all over the world. There are now 20 countries that have flat taxes. The United States is not yet one of them. Fred Thompson says let's have a flat tax; let's overcome the political opposition to this, all of the special interest groups that try to protect their deductions and carve-outs, by essentially telling the American people, You can have this voluntary flat tax. If you want to stay in the old system and keep all your deductions, you can do that. If you want a simple plan with a postcard return, you opt into that. Paul, I think if the people had that option, the vast majority of Americans would take the flat tax.
Gigot: And under the Thompson proposal, there would be two income tax rates, 10% and 25% rate, and, what, a $39,000 family allowance for a family of four, and that would vary depending on whether you were single or how many children you had. And the 25% rate kicks in at $100,000 of income. Is that right?
Moore: For a couple, that's right.(continued)
(Excerpt) Read more at opinionjournal.com ...
Unfortunately Huckabee loves taxes and larger government.
Ron Paul is not being taken seriously by many and he is not perfect, but he is better than most. Since many of the potential voters were born after 1977 they view the government as a normal. They have no idea where we came from and what makes this country truly great.
25% for over $100K and still have to pay property taxes, state taxes, etc.? No deductions? This doesn’t make much sense for the average business owner...
Under Fred Thompson's plan, you could opt to stick with the current tax plan or go onto the flat tax.
That's nothing. My guy wants to eliminate the IRS. Completely.
I'll stick with the real federalist who's whooping Fred's butt in fundraising and grassroots support, thanks.
This is an additional layer of complexity to the tax code if it keeps the previous and adds to it. The flat rates are on top of sales, property, state taxes, etc.
There's a big, brown cloud in the city, And the countryside's a sin. An' the price of life is too high to give up, Gotta come down again. When the world wide war is over and done, And the dream of peace comes true. We'll all be drinkin' free bubble-ubb, Eatin' that rainbow stew. When they find out how to burn water, And the gasoline car is gone. When an airplane flies without any fuel, And the satellite heats our home. One of these days when the air clears up, And the sun comes shinin' through. We'll all be drinkin' free bubble-ubb, An' eatin' that rainbow stew. Eatin' rainbow stew in a silver spoon, Underneath that sky of blue. All be drinkin' free bubble-ubb, An' eatin' that rainbow stew. You don't have to get high to get happy, Just think about what's in store. When people start doin' what they oughta be doin', Then they won't be booin' no more. When a President goes through the White House door, An' does what he says he'll do. We'll all be drinkin' free bubble-ubb, Eatin' that rainbow stew. Eatin' rainbow stew in a silver spoon, Underneath that sky of blue. We'll all be drinkin' that free bubble-ubb, Eatin' some rainbow stew. Eatin' rainbow stew in a silver spoon, Underneath that sky of blue. All be drinkin' that free bubble-ubb, Eatin' rainbow stew. ------------------------------------------------ On a summer day in the month of May a burly bum came hiking Down a shady lane through the sugar cane, he was looking for his liking. As he roamed along he sang a song of the land of milk and honey Where a bum can stay for many a day, and he won't need any money Oh the buzzin' of the bees in the cigarette trees near the soda water fountain, At the lemonade springs where the bluebird sings on the Big Rock Candy Mountains There's a lake of gin we can both jump in, and the handouts grow on bushes In the new-mown hay we can sleep all day, and the bars all have free lunches Where the mail train stops and there ain't no cops, and the folks are tender-hearted Where you never change your socks and you never throw rocks, And your hair is never parted Oh the buzzin' of the bees in the cigarette trees near the soda water fountain, At the lemonade springs where the bluebird sings on the Big Rock Candy Mountains Oh, a farmer and his son, they were on the run, to the hay field they were bounding Said the bum to the son, "Why don't you come to the big rock candy mountains?" So the very next day they hiked away, the mileposts they were counting But they never arrived at the lemonade tide, on the Big Rock Candy Mountains Oh the buzzin' of the bees in the cigarette trees near the soda water fountain, At the lemonade springs where the bluebird sings on the Big Rock Candy Mountains One evening as the sun went down and the jungle fires were burning, Down the track came a hobo hiking, and he said "Boys, I'm not turning." "I'm heading for a land that's far away beside the crystal fountains;" "So come with me, we'll go and see the Big Rock Candy Mountains." In the Big Rock Candy Mountains, there's a land that's fair and bright, The handouts grow on bushes and you sleep out every night Where the boxcars all are empty and the sun shines every day On the birds and the bees and the cigarete trees, The lemonade springs where the bluebird sings In the Big Rock Candy Mountains In the Big Rock Candy Mountains, all the cops have wooden legs And the bulldogs all have rubber teeth and the hens lay soft-boiled eggs The farmer's trees are full of fruit and the barns are full of hay Oh I'm bound to go where there ain't no snow Where the rain don't fall, the wind don't blow In the Big Rock Candy Mountains In the Big Rock Candy Mountains, you never change your socks And little streams of alcohol come a-trickling down the rocks The brakemen have to tip their hats and the railroad bulls are blind There's a lake of stew and of whiskey too And you can paddle all around 'em in a big canoe In the Big Rock Candy Mountains In the Big Rock Candy Mountains the jails are made of tin, And you can walk right out again as soon as you are in There ain't no short-handled shovels, no axes, saws or picks, I'm a-goin' to stay where you sleep all day Where they hung the jerk that invented work In the Big Rock Candy Mountains I'll see you all this comin' fall in the Big Rock Candy Mountains!
Oooo-kay. The Jim Beam kicked in or what?
“I wish that Fred was a conservative.”
Your wish is granted - he is.
“Unfortunately Huckabee loves taxes and larger government.”
Yes, he does.
I LOVE THAT SONG!
Huckster, the Harriet Miers candidate, has a theme song!
no one’s going to enjoy paying a 30% tax on a new car.
That's Mike Huckabee's plan, not Fred's. A large sales tax would drive much commerce underground (aka the "black market") IMO.
The best way to promote any of these tax plans that go outside the status quo. Find a country that was similar to ours under their old plan, who implemented a flat or fair tax, and show the benefits it brought to the majority of the people of that country.
You're not calling Huckabee a federalist are you?
Oh, yeah.... I get it now.
You’re waiting for Ron Paul to ladle you out your serving of rainbow stew!
This is his own doing. He marginalized himself right quick.