Tuesday, January 10, 2012

A handy tax policy tool

Americans for Tax Reform have a handy comparison of the tax plans of President Obama and the Republican candidates. Mitt Romney doesn't yet have a reform plan for personal income taxes, but it looks like he is going to support something like Jon Huntsman's plan. As quoted by Lawrence Kudlow,
But I look long term to do just what Jon [Huntsman] indicated, which is to take Bowles-Simpson and to reduce the rates in our tax code, to reduce the number of exemptions, and limit the amount of exceptions that can occur. At the same time, I don’t want to raise capital-gains tax rates, as they do in Bowles-Simpson. But simplifying the code, broadening the base, is the right way to go for our tax code long term.