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.
