Posted on 09/04/2011 12:07:15 PM PDT by 2ndDivisionVet
Former Utah Gov. Jon Huntsman, trailing badly in the GOP presidential race, hit hardest Sunday at a Republican who isn’t even in the race -- Sarah Palin.
Appearing on CBS’s Face the Nation, Huntsman described Palin’s call Saturday for no federal corporate income taxes “a great political bromide” unhinged from basic budget math.
“How do you do it? How to you make the numbers work?” he asked.
At a speech for a tea party event in Indianola, Iowa on Saturday, Palin called for a zero corporate tax rate coupled with an elimination of all corporate tax subsidies and federal bailouts. Palin declined to say whether she was running for president. Palin’s current polling average, according to RealClearPolitics.com, is 10.6 percent. Huntsman’s average is 1.2 percent. Texas Gov. Rick Perry is the current front-runner, with a polling average of 26.3 percent.
Huntsman's own plan would eliminate all tax subsidies for corporations and individuals and shrink the current six-rate personal income tax bracket with a three-rate bracket with rates of 8 percent, 14 percent, and 23 percent. The current structure contains rates of 10 percent, 15 percent, 25 percent, 28 percent, 33 percent, and 35 percent. Huntsman also wants to reduce the current federal corporate income tax rate from 34 percent to 20 percent.
Huntsman said his plan would be “revenue neutral” and would raise revenue to offset the losses linked to lower personal income tax rates by eliminating such popular tax breaks as deductions for interest on home mortgages, veterans' and Social Security benefits, and state and local income taxes.
“I know it’s going to be politically controversial, but I think it is absolutely needed at this point,” Huntsman said. “Everybody would like to go down to zero in terms of corporate taxes. I know how difficult it is to make the numbers work. You’ve got to find the revenue somewhere that you can reinvest in the tax code to bring down the rate for everybody. Ours is based on the real world and where we can make the numbers actually work.”
Anybody who considers taking money out of a citizen’s pocket and giving it the the Federal government as an “investment” needs to join the Democratic party.
This guy must be gunning for a third party run.
If Corporate Taxes are at zero percent, corporations will come here and open up business, and you’ll make far more from personal income taxes than you will have “lost” from eliminating the corporate taxes.
Even a pretend Republican would at least be aware of that. No wonder he was Obama’s buddy. I didn’t think Republicans came from this far left. And I’m from New York!
This is HUGH. BTW, who is Huntsman?
Governor Huntsman, in case you didn’t realize it, the purpose of taxes is to shift power from the people to the government.
Huntsman who? lol
Huntsman could have taken off, and perhaps even been great.
If he’s been more like Donald Trump, and less like Jane Fonda.
I don’t know what I was thinking, having once hoped that as US Ambassador to the country deliberately collapsing America’s industrial base - he might have even one small clue.
No.
No small clue.
And think of the cost savings simply due to removal of the accounting and legal burden. At last, corporate decisions could be based on business strategy and not needlessly intertwined with tax complications.
And what about the savings at the IRS.
The only downside would be tax lawyers and accountants, those poor corporate lobbying firms in DC, and the those in Congress who are the beneficiaries of their largess...what a heartbreak to see those bums lose their shirts.
Huntsman is romney in drag. Literally.
Based on what Hunstmas said (I ran the numbers) and my federal tax burden would rise 280%. Yea, I can see that would be a good thing.
Only hear that lame brain once, that was enough....
Yeah, what’s not to like?
Sarah Palin is on the right track with her proposal to eliminate the corporate income tax, which is producing less and less federal revenue every year. 70% of corporations pay no income tax. G.E. made 14 billion in 2010 and paid zero income tax, thanks to loopholes and, just to rub it in, G.E. is getting a 3.2 billion tax credit this year. Eliminate the tax loopholes and federal bailouts and not only will the U.S. economy rocket ahead but the 'lost' tax revenue would be offset by not granting bailouts. The fact that the biggest RINO in the GOP primary race is criticizing non-candidate Sarah Palins' proposal is more proof that Palin is who the Democrats fear, not Perry or Bachmann.
Tools like him LOVE foreign labor at slave prices. He stands for the welfare of China.
Sarahs proposal would cause business to flood into America. Billionaires like hinm have an interest in keeping things the way they are and have no interest in lurinbg business TO America.
And yes, at his poll numbers, why is HE on TV?
A-hole
You’re right. Good catch. “Revenue neutral” is not a virtuous attribute. It is a sign of failure to address crucial issues and prolong the agony.
I watched Buddy Romer speak before Sarah on Cspan.
He put the 3 people at his rally to sleep.
The great thing about being Sarah is that all the others can’t go outside the 1933 Coalition government rules, and she can just blow it up.
Somehow, the republic survived 75 years - until Lincoln enacted one, illegally - without any income tax. I might add that it did fine without one.
Seems like Governor Palin is toying with the boys and making them look foolish. She plays 3D chess; they play checkers.
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