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Pawlenty: Deep Tax Cuts and a ‘Google Test’

fuheel

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http://blogs.wsj.com/washwire/2011/06/07/pawlenty- plan-deep-tax-cuts-and-a-google-test/

Mr. Pawlenty wants to reduce the corporate tax rate from 35% to 15% and create just two tax brackets for individuals and families: a 10% rate on the first $50,000 of income for individuals – or $100,000 for married couples – and a 25% rate for all other income. In addition, he will call for the elimination of taxes on capital gains, dividends, interest income and inheritance.

One challenge for Mr. Pawlenty is to show that his plan would not explode a deficit that is expected to top $1.6 trillion, given that cutting rates so steeply could prompt a fall-off in tax revenues. The plan could expose Mr. Pawlenty to criticism from Democrats or even rivals for the Republican presidential nomination who have all made deficit-reduction a hallmark of the primary fight.

In order to offset any lost tax revenue — and to tackle the deficit — Mr. Pawlenty calls for something called “The Google Test” to determine whether the government should be involved in a program.

“If you can find a good or service on the Internet, then the federal government probably doesn’t need to be doing it,” Mr. Pawlenty says. “The post office, the government printing office, Amtrak, Fannie [Mae] and Freddie [Mac], were all built in a time in our country when the private sector did not adequately provide those products. That’s no longer the case.”

He calls on Congress to freeze spending at current levels and impound 5% of spending until the budget is balanced. “If they won’t do it … I will,” he plans to say.

The former governor will call for terminating all federal regulations, unless Congress votes to keep them individually.

Facepalm
 
That's idiocy.

I am OK with the corporate rate reduction, since our corporate rates are uncompetitive. The difference should be made up in some sort of VAT.

But the idea that we need to eliminate taxation on the primary method of income of the haves, who are far outpacing the have nots in this country, is lunacy. You are just inviting more paper profits and bubbles and income class separation.

This is Ayn Rand utopian nonsense.
 
That plan makes Ron Paul look like the smartest economist in history.

Hell that plan makes the 18yo who says,"I've still got checks. I must still have money.: look like a Nobel Laureate.
 
He thinks that he can get elected president on that platform. Things like this make you wonder what version of America he actually lives in. Does he talk to people outside of his family, friends, and political allies?
 
He thinks that he can get elected president on that platform. Things like this make you wonder what version of America he actually lives in. Does he talk to people outside of his family, friends, and political allies?

He realizes he needs to do something different than the current stale party line of speaking in generalities about tax cuts and downsizing government. While his ideas seem nuts, at least he is putting a platform out there rather than glossing over it in stump speeches like the hypocritical Mormon running against him.
 
He realizes he needs to do something different than the current stale party line of speaking in generalities about tax cuts and downsizing government. While his ideas seem nuts, at least he is putting a platform out there rather than glossing over it in stump speeches like the hypocritical Mormon running against him.

Eh. I'm not sure confirming to the world you are an idiot is the smartest political play right now. But maybe Pawlenty will prove me wrong.
 
That's admirable, but man, that's a pretty ugly platform that ignores a lot of realities that a lot of Americans face.
 
Might as well just run on a platform of handing every person in America a check to wipe out their credit card debt.
 
He realizes he needs to do something different than the current stale party line of speaking in generalities about tax cuts and downsizing government. While his ideas seem nuts, at least he is putting a platform out there rather than glossing over it in stump speeches like the hypocritical Mormon running against him.

It's a safe political speech/platform, he says the key things that his base wants him to say, while totally ignoring any mention of the entitlement programs. Doesn't matter if the reality of ever seeing these "reforms" pass is nil, this is a solid position for him.

Although the first point about corporate taxes is dead-on and is actually a position most reasonable Dems agree with. Corporate tax rate is too high.
 
Some of what he (apparently) says makes some good sense. Too bad he seems to be taking it to such extremes. That should make him unelectable.
 
He realizes he needs to do something different than the current stale party line of speaking in generalities about tax cuts and downsizing government. While his ideas seem nuts, at least he is putting a platform out there rather than glossing over it in stump speeches like the hypocritical Mormon running against him.

Or the genius in the current WH, who keeps talking about jobs but doing nothing about it.
 
One thing I love is the idea of a simplification of the income tax. His rates and numbers may be off, but having things clarified in a concise tax code rather than thousands of pages of rules that pick winners and losers would do more to give faith to the American consumer than not doing it would.
 
Or the genius in the current WH, who keeps talking about jobs but doing nothing about it.

Please tell me you're not a Romney supporter. In all my years of following politics, I've never had my bullshit-o-meter go off as bad as it does listening to Romney. How that sack of shit has the gall to rail on Obamacare while glossing over his own checkered history in implementing socialized health care truly amazes me. For me it brings into question his credibility on every single thing he says. I have zero faith in him to lead effectively when he doesn't even have the stones to own up to his own legislative past.

Zero chance Romney gets my vote. And currently, no chance Obama does either as I've yet to see that he has the country on a path to pull us out of this economic morass.
 
Please tell me you're not a Romney supporter. In all my years of following politics, I've never had my bullshit-o-meter go off as bad as it does listening to Romney. How that sack of shit has the gall to rail on Obamacare while glossing over his own checkered history in implementing socialized health care truly amazes me. For me it brings into question his credibility on every single thing he says. I have zero faith in him to lead effectively when he doesn't even have the stones to own up to his own legislative past.

Zero chance Romney gets my vote. And currently, no chance Obama does either as I've yet to see that he has the country on a path to pull us out of this economic morass.

Kind of funny seeing pull us out and morass in the same sentence. I think we're fucked either way.
 
Please tell me you're not a Romney supporter. In all my years of following politics, I've never had my bullshit-o-meter go off as bad as it does listening to Romney. How that sack of shit has the gall to rail on Obamacare while glossing over his own checkered history in implementing socialized health care truly amazes me. For me it brings into question his credibility on every single thing he says. I have zero faith in him to lead effectively when he doesn't even have the stones to own up to his own legislative past.

Zero chance Romney gets my vote. And currently, no chance Obama does either as I've yet to see that he has the country on a path to pull us out of this economic morass.

Not a fan of the Romneynator. He's like the Stepford candidate. Nice guy but he blew it w/ that MA healthcare crap.

Herman Cain's my guy.
 
Herman Cain? He'll kill you in other elections.
 
One thing I love is the idea of a simplification of the income tax. His rates and numbers may be off, but having things clarified in a concise tax code rather than thousands of pages of rules that pick winners and losers would do more to give faith to the American consumer than not doing it would.

That's true. There's something to be said for that, but I haven't seen a plan that doesn't radically shift the tax burden to the poor and middle class.
 
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