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A Tax Plan from Rand Paul

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Over at The Hill, Lloyd Sloan sings the praises of Rand Paul’s tax plan, which is unlike any other seen in the Republican or Democrat field of candidates:

Senator Paul’s plan calls for a 14.5 percent flat rate on income. It will replace today’s corporate taxes with a new 14.5 percent value-added tax. It eliminates all estate and gift taxes, (most) tax credits, deductions, and loopholes that favor big business.

Americans who identify as poor or in the lower middle class will benefit greatly from this plan. A family of four under a President Paul tax plan would pay no income taxes on the first $50,000 in earned income.

Along with the first $50,000 in earned income being exempt under this tax plan, the payroll tax will also be eliminated. The payroll tax is the largest tax that most Americans pay.

When conservative talk-host Glenn Beck first saw this plan he said, “I’m telling you, this is erotic, it is so good.”

Paul’s tax plan isn’t a flat tax. His plan is a slightly progressive tax system that liberals and conservatives should get on board with. This plan brings a ‘bottom-up’ approach to cutting taxes which many voters haven’t seen before.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.

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