Santorum 2012

[scotty]

Originally Posted by Aquila

Rick Santorum on taxes:

Rick Santorum believes that to have a strong economy, we must have strong families – because the family is the first economy. Our government must recognize this and create an environment for our families, our small businesses, and our communities to thrive. Senator Santorum believes we are a land of opportunity where all Americans have the chance to rise on their own merits and hard work. Sadly, President Obama has done just the opposite by using class warfare to divide America and limit opportunity for all.

As found @ http://www.ricksantorum.com/defender-taxpayer

Rick Santorum is committed to reviving our economy, restoring economic growth, and creating jobs in America again by unleashing innovation and entrepreneurship through lower and simpler taxes for American businesses, workers, and families. He also will roll back job killing regulations, restrain our spending by living within our means, and unleash our domestic manufacturing and energy potential. His vision for America is to restore America's greatness through promotion of freedom and opportunity for all. This is just the start. A plan made in America to promote America’s families and prosper its businesses.

THE SANTORUM SOLUTION

1.Cut and simplify personal income taxes by cutting the number of tax rates to just two - 10% and 28% and return to Reagan era pro-growth tax rate;
2.Simplify the tax code and reduce middle income taxes by eliminating the Alternative Minimum Tax (AMT);
3.Simplify the tax code, encourage savings and investment, and reduces taxes by eliminating the Death Tax;
4.Lower the Capital Gains and Dividend tax rates to 12% to spur economic growth and investment;
5.Reduce taxes for families by tripling the personal deduction for each child;
6.Reduce and simplify taxes for families by eliminating marriage tax penalties throughout the federal tax code;
7.Retain deductions for charitable giving, home mortgage interest, healthcare, retirement savings, and children;
8.Eliminate the cap on deductions for losses incurred in the sale of a principal residence;
9.Cut the corporate income tax rate in half to make our businesses competitive around the world, from 35% to 17.5%;
10.Eliminate the corporate income tax for manufacturers to spur middle income job creation in the United States and benefit from the job multiplier effect in manufacturing;
11.Increase the Research & Development Tax Credit from 14% to 20% and make it permanent to spur on innovation in America;
12.Eliminate the tax on repatriated taxable corporate income invested for manufacturers equipment investment, 5.25% corporate tax rate on other repatriated income invested in the USA, and 100% expensing for new business equipment;

During his time in public office, Senator Santorum was a strong advocate for a family and small business-friendly tax code, serving as the point man to pass the Bush tax cuts of 2001 and 2003 that revitalized our economy after the terrorist attacks of 9/11. For his work on reducing the tax burden on all Americans, Senator Santorum has received praise from groups ranging from the Club for Growth to Americans for Tax Reform and the National Federation of Independent Business.

Interesting tax plan. This would require cutting government spending and special programs considerably.

Not neccesarily. Cutting taxes spurs growth which creates jobs and revenue which in turn increases tax revenues. The left do not want to admit that the economy is just that simple and it has worked in the past.

[RandyWayne]

THE SANTORUM SOLUTION

1.Cut and simplify personal income taxes by cutting the number of tax rates to just two - 10% and 28% and return to Reagan era pro-growth tax rate;
2.Simplify the tax code and reduce middle income taxes by eliminating the Alternative Minimum Tax (AMT);
3.Simplify the tax code, encourage savings and investment, and reduces taxes by eliminating the Death Tax;
4.Lower the Capital Gains and Dividend tax rates to 12% to spur economic growth and investment;
5.Reduce taxes for families by tripling the personal deduction for each child;
6.Reduce and simplify taxes for families by eliminating marriage tax penalties throughout the federal tax code;
7.Retain deductions for charitable giving, home mortgage interest, healthcare, retirement savings, and children;
8.Eliminate the cap on deductions for losses incurred in the sale of a principal residence;
9.Cut the corporate income tax rate in half to make our businesses competitive around the world, from 35% to 17.5%;
10.Eliminate the corporate income tax for manufacturers to spur middle income job creation in the United States and benefit from the job multiplier effect in manufacturing;
11.Increase the Research & Development Tax Credit from 14% to 20% and make it permanent to spur on innovation in America;
12.Eliminate the tax on repatriated taxable corporate income invested for manufacturers equipment investment, 5.25% corporate tax rate on other repatriated income invested in the USA, and 100% expensing for new business equipment;

The bolded line (number 5) is the only one I completely and absolutely disagree with. This is the one that is a flat out welfare payment where parents don't pay a red cent of income taxes and yet still get that multi-thousand dollar "refund" check from the IRS.

[scotty]

Originally Posted by RandyWayne

The bolded line (number 5) is the only one I completely and absolutely disagree with. This is the one that is a flat out welfare payment where parents don't pay a red cent of income taxes and yet still get that multi-thousand dollar "refund" check from the IRS.

Ok, but as long as those of us who do pay a few hundred thousand red cents can still get it.

[RandyWayne]

Originally Posted by scotty

Ok, but as long as those of us who do pay a few hundred thousand red cents can still get it.

LOL

Ya, we're paying in about 300,000 red cents ourselves this year. Argh!

[Pressing-On]

Originally Posted by RandyWayne

The bolded line (number 5) is the only one I completely and absolutely disagree with. This is the one that is a flat out welfare payment where parents don't pay a red cent of income taxes and yet still get that multi-thousand dollar "refund" check from the IRS.

I hear you! Some people getting back buckos of money who don't pay into the system. It is welfare and it is ridiculous.

[RandyWayne]

Originally Posted by Pressing-On

I hear you! Some people getting back buckos of money who don't pay into the system. It is welfare and it is ridiculous.

I really liked every other part of his tax plan, just not that one little one. lol

[MissBrattified]

Originally Posted by RandyWayne

The bolded line (number 5) is the only one I completely and absolutely disagree with. This is the one that is a flat out welfare payment where parents don't pay a red cent of income taxes and yet still get that multi-thousand dollar "refund" check from the IRS.

Isn't there a difference between credit and deduction, though? This says "deduction." A deduction comes off your taxable income. Child Tax Credit is where the government credits against your taxes paid or owed, and could potentially end up in your pocket (I assume).

IMO, tax returns should zero out. No one should get back more than they paid in. I can understand someone being below a taxable income bracket and getting a refund on the amount withheld. However, no one should be getting excess money on a refund, e.g., above and beyond what they actually paid to the IRS in the first place.

[Twisp]

"Many in the Christian faith have said, “Well, that’s okay. Contraception’s okay.”

It’s not okay because it’s a license to do things in the sexual realm that is counter to how things are supposed to be...

...And all of a sudden, it becomes deconstructed to the point where it’s simply pleasure."

http://www.theatlantic.com/politics/...oogle%20Reader

That's going to sound great in the general election.

[MissBrattified]

Originally Posted by Twisp

"Many in the Christian faith have said, “Well, that’s okay. Contraception’s okay.”

It’s not okay because it’s a license to do things in the sexual realm that is counter to how things are supposed to be...

...And all of a sudden, it becomes deconstructed to the point where it’s simply pleasure."

http://www.theatlantic.com/politics/...oogle%20Reader

That's going to sound great in the general election.

HAHAHAHA!!! There are a LOT of married couples who have sex for "simply pleasure!" He's going to get reamed for that one!

[Twisp]

Originally Posted by MissBrattified

HAHAHAHA!!! There are a LOT of married couples who have sex for "simply pleasure!" He's going to get reamed for that one!

My wife and I can't have kids currently, so apparently we are sinning every time the mood strikes. We're such rebels.