Nearly every Republican candidate supports some form of tax overhaul when asked to consider the current system. Senator Rand Paul has now offered some details of the tax plan he will be pushing as he campaigns for president. It’s called the “The Fair and Flat Tax,” which is a mixture of two major existing tax plans pushed by various tax reform groups.

Report from CBS News:

Republican presidential candidate Rand Paul unveiled his version of a flat tax on Thursday, proposing to “blow up the tax code and start over “in a Wall Street Journal editorial.

“The tax code has grown so corrupt, complicated, intrusive and antigrowth that I’ve concluded the system isn’t fixable,” Paul, a freshman senator from Kentucky, wrote.

In its place, he called for “an over $2 trillion tax cut that would repeal the entire IRS tax code…and replace it with a low, broad-based tax of 14.5 [percent] on individuals and businesses.” Under Paul’s plan, all forms of income would be taxed at that level, including wages, dividends, capital gains, and interest.

“All deductions except for a mortgage and charities would be eliminated,” Paul wrote. “The first $50,000 of income for a family of four would not be taxed. For low-income working families, the plan would retain the earned-income tax credit.”

The plan, dubbed “The Fair and Flat Tax,” would also eliminate “nearly every special interest loophole,” Paul explained, along with the payroll tax and federal taxes like the gift tax and the estate tax.

The elimination of “nearly every special interest loophole” always seems to derail tax proposals. Reforming the tax code almost always involves eliminating special breaks for various industries or businesses, and they fight tooth and nail to prevent such action. Other candidates will surely unveil their own tax plans in the coming months, especially leading into the debates.

20 COMMENTS

  1. …nearly every special interest loophole”

    I’m sure he’ll get back to us on just which loopholes he’ll exempt very soon.

    • Swastika Boy — trying to peddle your see-through liberal tripe, again…?

      “…nearly every special interest loophole” — and when Rand finds other loopholes, as President, will eliminate them, too… that’s the proper meaning of this snippet you picked (to try your hand at slagging the only Real American Patriot that can be elected to save our nation —- what sad little liberal numbskull you must be).

      • A legitimate question at the debates would be, “do you favor eliminating the mortgage interest deduction,” and other specific “loopholes.”

        • ProgRep:

          You’ll have to expound. We don’t want pure ad hominem attacks. Your post will be deleted if you don’t go on to say WHY you feel he is a liar or an idiot.

          The posting to which you responded barely escaped deletion, by tucking a few words of topic relevance into the middle of his attack on you.

          • And now that you have fleshed it out, you’ve made a strong indictment. I’d love to see what Surfisher might say to your treatise, but my guess is that it’s too voluminous. Might better have hit him with just a point or two.

            I’d like to see the two of you go toe-to-toe.

            • You overwhelmed him, so you’ll get no response at all. If yu had hit with just a point or two, he might have argued.

              I like Rand, but your series of complaints about him was pretty solid. You should bring them back, one at a time, to see if we can explore or explain them.

            • Goethe — I only debate piers, inferior minds, such as Swastika Boy and Tess Liehard, I expose for the liberal, brainwashed numbskulls that they are.

              I don’t mind you allowing the Liberal trash posts by Tess, nor Swastika Boy — but, wonder why you allow someone to display the Nazi Swastika each time he posts…?!

              Now that the Confederate Flag is going down, don’t you think you should follow lead and remove the Nazi Symbol from your board, too…?

              Swastika Boy can post all the liberal tripe he wants — but NOT with his proud Avatar Pic of the Nazi Swastika (if he won’t change it — delete him)!

            • I have communicated to him that use of the Swastika actually makes his argument weaker and suspect. I have not pushed to remove it, since I think it just makes him look bad.

              I think the point is that he is obviously not celebrating the symbol. He is using it as a symbol of evil. That’s the important point. But, of course, final decision is Nate’s.

              I hope you noticed that I almost deleted his one-liner to you, but gave him a chance to change it. You’re not the only one who will be deleted if the comment is just a personal attack on another poster.

  2. President Paul will eliminate the following anti-American Federal Agencies in this order (name your order):

    1) TSA — armed thugs that Unconstitutionally frisk even small children in their private areas…let alone all grownups they choose!

    2) Weaponized IRS — The Taxman carries a Gun! Send them all to patrol the Mexican border instead of pulling guns on US Citizens! FLAT TAX = NO IRS !!!

    3) Federal Reserve Board — it will take a while to get their 1st audit ever, but afterwards this Private Enterprise will have to be shut down (for the US Constitution prohibits the minting/printing of US currency by a private enterprise (what the Feds are) and only allows the US Treasury Department to do it).

    4) CIA — the torturing bastards that make us on par with the terrorist states of Israel and IS.

    5) BATF — a Bureau that watches over Tobacco and Alcohol….and Firearms, how idiotic is that…?! Don’t grow tobacco, or will come guns a-blazing…LOL!

    6) NSA — spying on all Citizens is the anathema of what America is all about!

    7) Name the rest of the Alphabet Soup strangling Federal Agencies that have turned US into subjects…not Free Citizens as the US Constitution guarantees!

      • “I’ve got a pen and a phone”…Obama on his pernicious Executive Orders, that are destroying our nation to fit the Kenyan-born Usurper of OUR White House in his pursuit of his sickening socialist agenda.

        President Paul can use the same to restore our Freedoms! But, I believe he’ll only use it one time — to banish the TSA on day one of his presidency. Our Constitution guarantees that all Citizens have the RIGHT to TRAVEL without impediment of any sort (barring known criminals) — the TSA acts as if all Citizens are Criminals, and thereby have forfeited their (TSA) “right” to exist as weaponized federal cadre that frisks-and-fondles American men, women and children!

        The rest — President Paul will appeal to Congress and Senate to do the right thing, that’s necessary to preserve our Constitutionally guaranteed Privacy and Freedoms! And he’ll get it done — after all, President Paul will have 8 years to accomplish what his father fought for!

        Rand, or Revolution!
        There are no other options to save America!

  3. Doesn’t it make sense to exempt the first, say $20,000/yr income for head of household from taxation? I’m all for simplifying the tax code for sure. Rand Paul is a smart and thoughtful guy and I like what I see so far in his plan. I’m hoping proposals for tax reform coming from Republican candidates will start to include language that will help and not hurt senior citizens and others who’s incomes are fixed such as a single parent care giver for a severely disabled adult child (like me). Parents and others who’ve sacrifice high paying careers to care for their loved ones at home (for whom the likely hood of finding suitable out of home placement is unrealistic) often get a meager subsistence level fixed income – for example $20,000-30,000/yr in CA (these groups no longer have the protection of policies that prevent their property taxes from increasing and it’s rather high in CA) and a 14 or 15% tax would be a hike for them. Even a 10% flat income tax would be a hike.

    • Lynn: Welcome. I don’t remember our hearing from you before.

      But you apparently missed this line:

      “The first $50,000 of income for a family of four would not be taxed.”

      That’s considerably more generous than your suggestion.

      The idea of a graduated income tax is based on a philosophy such as Maslow’s Pyramid. That is, money has less and less real value as it is accumulated. Therefore, those earning more should pay more to be fair.

      Rand is approaching it from a different angle–that the first $50,000 is needed for basic needs, and only “luxury” income will be taxed.

      • The way I read it the key words are “family of four”. Does this not leave out families of less than four or is there more to this stipulation?

        • I took that to be an example. I haven’t seen his plan, but I doubt he’s only exempting a “family of four,” and not a “family of three” or “five.” My guess is that he would exempt something like $20k for one person, $30k for two, $40k for three, and so on.

          But I am dubious that exempting so much income and then only taxing 14.50% could sustain any government.

          • I hope you’re right. That would be awesome. I know some, and some are economists are dubious like you but I think you really need to be inside ALL the numbers to know. And I’m sure you need some kind clearance to know all the numbers. 🙂 But I presume that eliminating loop holes makes up for it along with $ coming back to US from companies wishing to return to a tax friendly US.

  4. *Why I support Rand Paul and why he reminds me of Ronald Reagan*

    “For the first time since Ronald Reagan we have a political figure who is not just running for office to seek personal power but one who is actually leading a popular movement. I’m talking about Senator Rand Paul who leads a diverse array of young people, free market conservatives, African Americans and Internet Geeks in what can best be described as “The Give Us Back Our Freedom Movement.”

    Great article by Doug Wead, see below:

    https://dougwead.wordpress.com/2015/06/30/why-i-support-rand-paul-and-why-he-reminds-me-of-ronald-reagan/#comments

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