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Posted on 01/08/2012 5:40:29 PM PST by SeekAndFind
Rick Santorum is looking to distinguish himself from his GOP rivals, particularly Mitt Romney, on taxes:
If there’s any doubt that insurgent GOP presidential candidate Rick Santorum is gunning for the mantle of blue-collar conservative, just take a gander at his tax plan: Families with children would receive triple the current tax exemption, and companies that manufacture goods in America would not be taxed at all.
The populist proposals, which set him apart from his rivals, are key components of Santorum’s “faith, family and freedom” agenda that resonated in Iowa and which he now hopes will draw blue-collar voter support in New Hampshire.
“I believe in cutting taxes. I believe in balancing budgets. … But I also believe we as Republicans have to look at those who are not doing well in our society by just cutting taxes and balancing budgets,” Santorum said Tuesday after coming within eight votes of front-runner Mitt Romney in the Iowa caucus.
As we will see, there’s far less difference between Santorunomics and Romneynomics than the former Pennsylvania Senator has tried to create with rhetorical jabs at supply-siders. The differences fall mostly into the two categories identified above.
First, he wants a pro-natalist tax policy in the mold of economist Jacob Stein. That’s unsurprising, given Santorum’s generally Catholic approach to public policy. It appeals directly to middle-class families, which is good campaign politics — on the surface, anyway. On closer examination, there would be budgetary and political obstacles to passing this type of proposal. Moreover, it is far from clear that this tax policy would actually do anything about falling fertility rates, which are part of human development in the modern age. That development, spurred in no small part by respecting innovation and entrepreneurial drive, may decrease fertility rates, but it also yields enormous benefits for families.
Second, Santorum supports a hugely differential corporate tax rate of 17.5 percent for all but manufacturers, who would pay zero. Again, this is unsurprising from someone campaigning as the grandson of a coal miner. Again, the surface politics are good, given the importance of working-class voters, particularly white working-class voters, to the electoral calculations of both major parties this year. However, the Tax Foundation calls it possibly the worst idea of any of the Republican candidates, for several reasons.
Indeed, the Tax Foundation gives Santorunomics a grade of “D+”. Unfortunately, Romneynomics does not grade out much better, earning a “C-” from the group. The, er, bright spot here is that either would be better than Obamanomics, which by their criteria should flunk.
I don’t trust either of them to dismantle the federal government..
or nOOt either..
BUT they may reduce spending somewhat and reduce regulation..
probably, maybe, somewhat..
That is if America does not want ((More)) of Zerodamus..
And is so dumbed down they have reached critical dumbness..
After all they elected him in 2008 and may not be paying attention to what he hasn’t done.. and believe what he says he’s done but hasn’t..
RomneyCare! End of story!
I think the reduced corporate rate is an excellent idea.
The zero rate (for a given period of time) might just lure manufacturing back to the country.
One thing that has been only occasionally referred to, though, is the fact that this president will probably replace at least a couple Supreme court justices. I’d want Santorum choosing those judges, not Romney, and CERTAINLY NOT Obama! We cannot let Obama win this, and we need Santorum or Perry, Newt if neither of the above make it. Romney will choose people he thinks he will not have to fight for to make it through confirmation. You can read that as middle of the roaders, who vote mainly with the left. The others would be a hell of a lot more conservative in their choices, in my opinion! My choice for president is still Perry, and if he makes it to Super Tuesday, I’ll vote for him. If not, then Santorum. I like both a lot.
OTOH, some of his positions actually make sense like giving intact families with children tax breaks at least equal to what fake families who pop out crack babies are able to suck from the government teat. Ditto for free trade. He basically believes in it but isn't the rigid ideologue when it comes to protecting America's interests.
These are fairly typical positions of someone who doesn't support sacrificing American jobs on the altar of free trade unless we get some tangible benefit in return. At one time, it was called common sense and created a lot of Reagan Democrats who trounced Carter and Mondale in two consecutive election cycles.
As a social conservative, Rick Santorum is as good as it gets. As an economic conservative, however, he will put common sense over rigid ideology. That might not sit well with voters who are looking for 100% conservatism, but it will probably make him more electable.
I think you hit the nail on the head. As much as I don’t really like anyone this gives a legitimate reason.
“for a given period of time”
How about “forever” ? Seriously. No corporate profits tax means no lobbying, no keeping profits offshore, no tax compliance overhead. In short, no unproductive sinkholes for capital.
Replace the revenue currently coming from corporate profit taxes and employer payroll taxes with a single 10% tax on labor costs (including expenditures to foreign entities as they contain embedded labor).
Replace the individual income tax and payroll tax with a single 10% tax on the first $100K and 15% on amounts over $100K. No deductions or credits for anything.
Instead ... Santorum reveals himself as a non-SupplySider looking to buy voters with promises of more tax freeloading Keynsianism. Romney reveals himself as a do-nothing on taxes. Gingrich and Perry are both in that high-deduction tax freeloading category as well, although I could live with Gingrich’s plan if it included a 10% minimum regardless of deductions and credits. Cain was the only one with a clean-slate tax reform plan. Sigh.
Time to dump Santorum and get behind Newt. At least Newt’s economics aren’t based entirely in populist vote buying. Think about how many more families Santorum’s plan removes from the tax rolls and would necessarily shift that tax burden to an investor class that is already looking for any excuse to move abroad.
I really don't like this idea. It's a continuation of Washington picking winners and losers.
I agree that the rate should be a lot lower, but all corporations should pay the same rate.
We of course you are a Ron Paul fan.....we cannot afford to have Ron Paul as the candidate because of his dangerous foreign policy.
Santorum has a handful of populist economic positions. That’s why his lifetime rating from the American Conservative Union is 88% rather than 100%.
I am seriously starting to hate that horrible President Bush II. I liked him but now that Santorum is being skinned alive for supporting the President, I hate him!!!!! If Santorum loses this nomination because of the so called expenditures that President Bush wanted and Senator Santorum supported because he was a Republican, had a Republican House and Senate than I will rank Bush II below Carter and Obama.
If there’s any doubt that insurgent GOP presidential candidate Rick Santorum is gunning for the mantle of blue-collar conservative, just take a gander at his tax plan: Families with children would receive triple the current tax exemption, and companies that manufacture goods in America would not be taxed at all.
“companies that manufacture goods in America would not be taxed at all.”
If that isn’t impressive, I don’t know what is!
BUMP!
[ We of course you are a Ron Paul fan.....we cannot afford to have Ron Paul as the candidate because of his dangerous foreign policy. ]
Hes no more dangerous than Myth Romney..
Myth will loose, Paul could win..
Paul would bring a bunch of democrats..
and a few republicans that actually want the federal gov’t to be decreased..
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