WALL ST. JOURNAL: Republicans Push Bold Tax Plans: Proposed changes go well beyond the party’s previous platforms and ensure the issue will play a central role in the general election.
Driven by a desire to stand out in a crowded field and spark economic growth, the GOP contenders no longer just say they want to lower rates and expand the tax base. Their new ideas, once the province of right-leaning think tanks, make previous Republican plans look timid.So far, though, nobody’s come out to repeal the Hollywood tax cuts. But we can hope. I have some higher education related proposals, too.
Nearly all the GOP candidates—who will meet again Tuesday evening in a debate hosted by Fox Business Network and The Wall Street Journal—are promoting at least one tax idea the party hasn’t tried to sell to a general-election audience.
Among them: eliminating both payroll and corporate taxes and introducing a broader business tax in their place. Donald Trump, a front-runner, has proposed a tax cut that by one estimate would put federal collections at their lowest since World War II.
“It doesn’t seem like there’s anything constraining these guys,” said Alex Brill, a former GOP congressional tax staffer now at the American Enterprise Institute, a conservative think tank. “The next guy that’s announcing his plan, he’s going to announce a plan that’s bigger and bolder and better than the last guy. And then he can win that debate.”
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