Rich Santorum won the Iowa caucuses and has positioned himself as a front-runner. One candidate surges ahead and then dramatically drops down in the polls. The American voter appears uncertain when it comes to choosing a candidate for the GOP nomination. The Santorum 2012 taxes and overall tax plan require closer attention. The United States deficit and rising unemployment continue to be the hot topics in this race.
The Santorum tax plan it is estimated would cut taxes by one-trillion by 2015. A higher the deficit the will lower the value of the American dollar. He promises to cut taxes for individuals making forty-thousand or more a year. His plan would increase the overall spending power of the average American, by increasing their incomes by lowering their tax rates. His plan would create two tax brackets of ten percent and twenty percent. He would lower capital gains taxes to twelve percent from fifteen percent and increase the child exemption for individuals threefold. The biggest tax breaks would go to corporations that would pay around seventeen and a half percent, which is half of what they currently pay. Companies based in the United State would not be required to pay any taxes. This tax measure allegedly would encourage companies to invest in home based industries.
Santorum’s tax plan is designed to increase the nation’s economic growth, but it is based on systems that have not reduced the deficit or increased employment. Giving Companies substantial tax cuts and incentives has not reduced the deficit, or created more jobs. The nation deserves a better tax plan.
- Taxes 2012, Santorum, Part Of The Solution Or Part Of The Problem (2010taxes.org)
- The Brownback Plan For 2012 Taxes Is Not Well Thought Out (2011taxes.org)