CARSON: It's all about America. You know, the people who say "the guy who paid $1 billion because he had $10 billion, he has still got $9 billion left, that's not fair, we need to take more of his money." That's called socialism. That doesn't work so well. What made America into a great nation was the fact that we said, that guy just put in $1 billion, let's create an environment that's even more conducive to his success so that next year he can put in $2 billion. And that's the kind of thing that helps us to grow. We can't grow by continuing to take a piece of pie, and dividing it, and redistributing it.
Q: Do you support the FairTax, like Governor Huckabee?
CARSON: I'm evaluating the FairTax, and I'm talking to the American people.
CARSON: The people who [oppose flat taxes]--that's called socialism.
Q: What about the FairTax?
TRUMP: What I don't like about the FairTax is that if you make $200 million a year, you pay 10%, you're paying very little relatively to somebody that's making $50,000 a year, and has to hire H&R Block because the middle class. The hedge fund guys won't like me as much as they like me right now. I know them all, but they'll pay more. I know people that are making a tremendous amount of money and paying virtually no tax, and I think it's unfair.
SANTORUM: [My 20/20 plan] eliminates all the deductions and special interest provisions.
Q [to PATAKI]: Would you also be for doing away with people's deductions for their mortgages.
PATAKI: No, I would not. I would keep that deduction. I would keep the home mortgage deduction, the charitable deduction, and others.
HUCKABEE: I have a different idea. I think we ought to get rid of all the taxes on people who produce. Why should we penalize productivity? And it's why I'm an unabashed supporter of the "fair tax," which would be a tax on our consumption, rather than a tax on our productivity. In other words, you're not going to tax anybody for what they earn, whether it's worker whose working by the hour or whether it's a hedge fund manager. If they can produce something and bring capital and labor to create jobs, we need some jobs. And I think the "fair tax" makes more sense. What I'd love to see us do by no longer penalizing the people who are out there working because they are taking a gut punch right now.
SANTORUM: Actually, I'm going to be proposing a plan, I call it the 20/20 perfect vision for America as flat tax, a 20% flat tax on income, 20% flat tax on capital gains and on corporations. We eliminate all the deductions and special interest provisions. We deal with the carried interest issue, because everybody pays the same 20%. So, there's no advantage as to how you take your income. That will create growth. We put a 20% rate on corporations; then we're competitive with almost every country in the world. We allow for expensing; we have a three year phase in. We start at zero for manufacturers, phase it up to 20. So, the answer is, we're going to lower, and flatten taxes. We're going to put government on a budget: a 10% across the board cut.
|2016 Presidential contenders on Tax Reform:|
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