A Quote by Kevin Drum
Ben Carson says his flat tax will be around 15 percent. And by God, if he ever shows you the details, you'll see how awesome and deficit-killing it is.
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Under my plan, 85 percent of America will pay no tax or have a flat tax at our lowest rate of 15 percent.
I think Dr. Ben Carson is a unique political personality. He's what we call a conviction politician. He actually believes in what he says. Here's a fellow who had been a neurosurgeon at Johns Hopkins for over 30 years. Babies conjoined at the head, he is the one that did that. He's a superstar. Ben Carson steps away from medicine, looks at the political environment around him, and he is aghast at what he sees.
Rick Perry unveiled his new tax plan. He says he wants a flat tax. He believes that tax should be flat, just like the earth.
Look what Ted Cruz did with Ben Carson, who's endorsed me, a great guy. Look what he did to Ben Carson. He said that Ben Carson in Iowa has left, he's out of the campaign, vote for me. Thousands of people voted for him because he convinced people that Ben Carson had left the campaign.
In 1994, Estonia became the first European country to adopt a flat tax, and its 26 percent flat tax dramatically energized what had been a faltering economy. Before adopting the flat tax, the Estonian economy was literally shrinking. In the eight years after 1994, Estonia experienced real economic growth - averaging 5.2 percent per year.
Dr. Ben Carson has the most moving personal narrative in modern presidential politics. His mother, one of 24 children, had only a third-grade education. She was married at age 13, bore Ben and his brother, and then raised the boys as an impoverished single mother in Detroit. As a young boy, Carson was a terrible student.
In 2010 the U.S. will have a payroll tax rate increase, an estate tax increase, and income tax increases. There's also a tax increase coming in 2010 on carried interest. This rate will rise from its current level of 15 percent to 35 percent, and then it will rise again in 2011.
Regarding the Economy & Taxation: America's most successful achievers do pay a higher share of the total tax burden. The top one percent income earners paid 18 percent of the total tax burden in 1981, and paid 25 percent in 1991. The bottom 50 percent of income earners paid only 8 percent of the total tax burden, and paid only 5 percent in 1991. History shows that tax cuts have always resulted in improved economic growth producing more tax revenue in the treasury.
The capital gains tax is 15 percent now. So I sit there in my office and I make a lot of money by capital gains, and I pay 15 percent, and I pay no payroll tax on it.
I watched what this man [Cruz] did to Dr. Ben Carson, who I respect, in Iowa, where he said that Ben Carson is out of the race - he has left Iowa and he's out of the race. And I thought it was disgraceful.
Did you know that they introduced the 15 percent flat tax on individual and corporate income in Iraq? Something that some politicians very much wanted to push in the United States without success but in Iraq they do it.
It's not rocket science. Hong Kong has 95% tax compliance, because it's code is only 4 pages long with a 15% flat tax.
The 9-9-9 plan would resuscitate this economy because it replaces the outdated tax code that allows politicians to pick winners and losers, and to provide favors in the form of tax breaks, special exemptions and loopholes. It simplifies the code dramatically: 9% business flat tax, 9% personal flat tax, 9% sales tax.
We certainly could have voted on making the middle-class tax cuts and tax cuts for working families permanent had the Republicans not insisted that the only way they would support those tax breaks is if we also added $700 billion to the deficit to give tax breaks to the wealthiest 2 percent of Americans. That's what was really disturbing.
I support both a Fair Tax and a Flat Tax plan that would dramatically streamline the tax system. A Fair Tax would replace all federal taxes on personal and corporate income with a single national tax on retail sales, while a Flat Tax would apply the same tax rate to all income with few if any deductions or exemptions.
Donald Trump has said that his 15 percent rate would apply to all businesses. And if that's the case, billionaire real estate magnets will get a very big tax cut.
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