Republican presidential candidate Rick Santorum’s plan to cut taxes for many individuals and corporations would expand the U.S. budget deficit by $1.3 trillion in 2015, an analysis released yesterday found.
Last week, I wrote about the nonpartisan Tax Policy Center’s effort to run the numbers on Mitt Romney’s base-broadening, rate-lowering tax reform plan. The numbers, as you may have guessed, didn’t add up. And that’s not just a problem for Romney. It’s a problem for anyone committed to the idea of tax reform.
Vice President Joe Biden and Republican challenger Paul Ryan, a Wisconsin representative, made competing assertions during their debate last night in Danville, Kentucky. How did they square with the facts?
The tax plan proposed by Republican presidential candidate Newt Gingrich would add $1.3 trillion to the U.S. budget deficit in 2015 alone, a new analysis shows, complicating his goal of balancing the government’s books.
About 41 percent of U.S. households would see their taxes increase under the optional 20 percent flat tax proposed by Texas Governor Rick Perry and an equal number would receive a tax cut, according to a nonpartisan analysis.