“I just find it unacceptable that half the country is on the dole, pays no income tax, yet can vote more money from those who aren’t on the dole and do pay the tax.”
I hope Newt is willing to put his mind to this moral argument, but I won’t hold my breath.
His tax plan is loaded with deductions and exemptions that preserve tax freeloading. If EVERYBODY paid federal income tax, it would only need to be 10%. Instead, with the $12K per person deduction, child tax credits, and EITC all preserved in Newt’s 15% Max (and no minimum) plan, there will be even more tax freeloaders than today.
Fixing Newt’s plan would be easy — just add the proviso that none of the deductions or credits can reduce your tax below a minimum 10% of AGI. That one change would eliminate tax freeloading and ensure everyone paid between 10% and 15% overall effective rate. The personal income tax would raise enough additional revenue to eliminate the corporate tax entirely and all the tax overhead and lobbying by corporations. America would be the best tax environment in the world.
Wipe the regulatory slate clean and the combination would have new businesses flocking to relocate in the USA.
I’d rather cut spending.