Gephardt's Tax Plan Debate
IS THIS THE FAIREST TAX PLAN
Debates and Polls
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75% of all taxpayers pay taxes at no more than a 10% rate, and tax rates are lower for all Americans
does not increase the deficit
The marriage penalty would be eliminated
The deduction for mortgage interest and the exclusion of employer-provided health care are retained
taxes all income -- earned and unearned, LIKE WAGES, INTEREST, DIVIDENDS, AND CAPITAL GAINS.
cuts corporate welfare by more than $50 billion
CORPORATIONS WILL JUST RAISE THEIR PRICES TO MAKE UP THE DIFFERENCE.
Tax is as progressive as today’s tax system
HOW IS IT FAIR TO TAX THE SUCCESSFUL AT A HIGHER RATE THEN EVERYONE ELSE?
SEE THE DEBATE PROGRESSIVE TAX RATE.
drastically reduces the more than $300 billion and 4.5 billion hours spent on preparing and filing tax returns
Tax allows dramatic cuts in the Internal Revenue Service
THE PLAN PROVIDES A $2,900 PERSONAL DEDUCTION AND STANDARD DEDUCTIONS OF $9,000 MARRIED, $6,600 HEAD OF HOUSEHOLD, AD $4,500 FOR SINGLE.
Marginal Tax Rate of 10%:
|Marginal Tax Rate of 32%:
Marginal Tax Rate of 20%:
|Marginal Tax Rate of 34%:
Marginal Tax Rate of 26%: