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.”
That's understood, since corporations would no longer being paying income taxes - except for bailouts.
The (only) taxes corporations should pay, are import tariffs at any point a product or raw material enters the United States.
“No loopholes, just one across the board import tariff.
Except on repatriated revenue, which should be tax-free. Anything which is imported during a product life-cycle is tariffed. Everything made in America, grown in America, or pumped out of the ground in America: ZERO corporate tax.
Not one penny.
It’s not complicated. America first.”
This is a good idea. I doubt it could pass at any time in the immediate or even near future, but like the FairTax, is worth talking about, and fighting for, so that one day it might perhaps happen.
I think 1.2% falls with the margin of “Oh, wait, I was thinking of somebody else when you said ‘Huntsman’”.
True enough, but lowering it to 20% or 25% would accomplish the same thing at a somewhat slower rate without causing the sheeple the vapors over the thought of those evil corporations not paying anything. Although in reality, some of those which are politically connected not only do so, but collect millions in corporate welfare such as General Electric.
Another politican that believes that the citizens of our nation exist solely for the benefit of government.
Well it’s my single issue, if we’re all single issue about something.
If I irritate any FReepers pounding on the issue, my apologies, but as you say I consider it worth standing up for so someday it might pass.
Certainly not trying to claim ownership of the issue though - welcome one and all to stick up for America First. What we’re doing now sure as heck isn’t working.
Producer: If we invite you as a guest what will you talk about?
Huntsman: How stupid Sarah Palin's proposals are.
Producer: Please come on our show!
Huntsman = RINO. Taxes do need to be lowered. Corporations does not pay taxes, their customers do!
Cut taxes and spending!!!!
Huntsman = RINO. Taxes do need to be lowered. Corporations does not pay taxes, their customers do!
Cut taxes and spending!!!!
Huntsman = RINO. Taxes do need to be lowered. Corporations does not pay taxes, their customers do!
Cut taxes and spending!!!!
Worth repeating.
Sorry all... using a smartphone!
What is needed is a new broom. A whole new system!
Excellent post! America would quickly become beacon for Capitalism.
Great points!! I wish every American could read your post. Sarah will no doubt bring forth what you have stated. She has clearly thought this through.
Freed from the insane government paperwork, the efficiency gains alone would add to the productive output.
Joseph Schumpeter's creative destruction would bring forth a dizzying array of advances in our society.
There will be such a labor shortage that people will hardly complain when Sarah succeeds in passing legislation eliminating government departments and hopefully laying off 100 of thousands of parasites. These so called government workers can get out in the "real world" and earn an honest living.
It will be a battle to downsize government, but I think off all those out there, Sarah is the only one with the drive and the tactical brilliance to accomplish it.
Did he slam Herman Cain for making the same proposal? You know, the successful Businessman guy who is running?
I would almost bet the DNC recruited him, but I’m not into that conspiracy stuff, or am I? The guy is a RINO on steroids.
Good! This guy is the worst poser out there, other than Myth. Saying he doesn’t like it means Palin’s on the right track.
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