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Paul unveils ‘tax cut’ plan

Rand Paul AnnouncementFrom Press Release

 

This morning, U.S. Sen. Rand Paul (R-KY) proposed the ‘Fair and Flat Tax’ which would eliminate the current tax code, which he said is “simple, fair, and cuts taxes for every single working American.”

Key components of his plan include:

  • The largest tax cut in American history; an estimated $2 trillion will be returned to American families in the first 10 years
  • Flat: one 14.5% rate for all individuals and businesses
  • Fair: completely eliminates FICA tax on workers
  • A plan to eliminate all corporate welfare: no more subsidies or handouts
  • A real stimulus; boosts GDP 10% over the first 10 years, creates over 2 million new jobs

“My plan is the biggest and boldest cut in American history,” Paul said. “It’s a flat 14.5-percent tax on individuals, but goes even further by completely eliminating the workers tax. It is also a 14.5-percent flat tax on businesses and eliminates corporate welfare. The only groups that will hate this plan are the lobbyists and big corporations that depend on Washington for handouts and special favors. This tax plan is not for the Washington Machine, but for every single working American.”

CLICK HERE to learn more about the ‘Fair and Flat Tax’.