Tuesday, November 3, 2015
Republican Tax Plans Under Analysis
Most of the GOP candidates have proposed changes to the federal tax system. Their proposals are not covered well in the debates and they don't make for good television. This article does what the TV debates have not done well. It describes several of the tax proposals and finds that much is left unsaid. Ben Carson has the most ridiculous proposal because he starts with the assumption that the tax base is equal to GDP. That allows him to propose a low flat tax rate and not starve the government. In fact, the actual tax base is well below GDP because so many sources of revenue are not taxed. The other plans that are described are less egregious but they have their own problems. None of the GOP candidates have a workable new tax proposal, but one can bet that any plan that surfaces if one of them is elected, will focus on cutting taxes for the super rich. The Republican Party has been at war with the progressive tax system since Ronald Reagan.