Tuesday, January 3, 2012

Rick Santorum’s Tax Plan

Rick Santorum’s Tax Plan by Howard Gleckman

I am still troubled that you wait until he has supporters to score his plan. In the pursuit of both truth and solutions, any good idea - and bad idea - should be scored - especially if it gives good solutions more exposure than they would otherwise get. While it is true that Santorum likely won't win the nomination and certainly not the general election, his ideas should still be scored because they add to the debate.

I agree with his approach of funding families more through the tax code, although the exemption for children and EITC should be merged to a larger refundable Child Tax Credit. Generally, his plan for more tax benefits for families is in line with his pro-life beliefs.

It seems that some of his proposals, like the expensing of equipment right away, might work as a transition to consumption taxes. A good consumption tax regimine combined with a surtax on high income might not be as much of a revenue loser, especially if the Democrats retain enough power in the Senate to force concessions and the anti-compromise/anti-fact members of the Tea Party are banished from Congress by the voters.

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