The fact that everyone is paying less in taxes means the government would collect less tax money - about $2.9 trillion less over the course of the decade, according to the Tax Foundation. Related: Who pays the most income taxes? People 45 and up “It will be the largest tax cut in American history,” Mr.The column was short on details, and Paul's campaign did not return calls for comment.īut according to the Tax Foundation, a conservative leaning but non-partisan think tank that did see Paul's plan, wealthier taxpayers would be the big winner under the plan.Īndrew Lundeen, director of federal projects at the Tax Foundation, broke down how much of a boost in after-tax income taxpayers would see: ![]() Paul has said.īut he has been coy about the exact details so far. As far as tax cuts are concerned, this is about as big as they come, Mr. It is structured for lower-income Americans, a flat tax could also be a way to broaden his populist appeal. Paul is trying to reassure conservatives who are mistrustful of him and his libertarian approach to other issues like foreign policy and criminal justice. Forbes has endorsed the plan and will vouch for it in an op-ed in The Wall Street Journal. The term “flat tax” in the country’s campaign vernacular. Forbes proposed in 1996 when he ran for president on a platform of lowering the rate for everyone to 17 percent. That would appear to be an even lower rate than Mr. Paul, who is hoping his small-government, libertarian-inspired approach to governing will translate into support as he seeks the Republican presidential nomination, will call for a flat tax in the midteens, Senator Rand Paul will reveal his plan to overhaul the tax code on Thursday. ![]() Senator Rand Paul in Washington last week.
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