9/22/2023 0 Comments Rand paul flat tax![]() He would also eliminate the tax on capital gains and dividend income, as well as the corporate income tax and estate taxes.įor years, Foxx - whose 5th Congressional District includes most of Winston-Salem and a large portion of Northwest North Carolina - has supported such a tax proposal. “This proposal is often referred to as the Fair Tax, and is equivalent to a rate of 30 percent on the pretax price of goods and services,” the foundation said in an analysis of Huckabee’s proposal. Rand Paul of Kentucky, according to the foundation.Ĭarly Fiorina, the former chief executive of Hewlett-Packard, has not disclosed how she would tax ordinary income, according to the foundation.įor his part, Huckabee’s plan would eliminate the individual income tax and create a federal sales tax at a rate of 23 percent, with monthly rebates for low-income households, according to the foundation. The bracketed tax structure is currently in place. Marco Rubio of Florida and New York tycoon Donald Trump, according to the Tax Foundation, a nonpartisan research organization based in Washington. Supporting a bracketed tax structure are former Gov. The other GOP candidates at the debate who have disclosed an income-tax policy prefer one of two types of tax on ordinary income: either a flat tax or a bracketed tax structure. Huckabee is the only candidate in the debate so far who proposes replacing the federal tax on ordinary income with a sales tax. Mike Huckabee of Arkansas on the subject of federal income taxes than any of the other Republican presidential candidates who participated in the CNBC-moderated debate Wednesday.Īs it turns out, Huckabee walks alone among his GOP rivals, though his income-tax proposal reflects a similar proposal co-sponsored by 72 Republicans in the U.S. Virginia Foxx, R-5th, is more in line with former Gov.
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