PBS News Hour: on Tax Reform
James Webb:
Raise taxes on capital gains but not on regular pay
Taxes: Cut corporate taxes. Raise taxes on investments.Speaking in Richmond at the end of 2014, Webb outlined a tax reform plan: He would cut corporate taxes at the same time as raising taxes on
capital gains and eliminating loopholes. He generally opposes any tax increases on regular pay and voiced a clear "no" to President Obama's 2012 plan to raise taxes on the wealthy.
Source: PBS News Hour "2016 Candidate Stands" series
Jul 2, 2015
Chris Christie:
Simplify tax code to three brackets, with highest at 28%
In May, Christie argued he can raise Americans' incomes and increase economic growth by simplifying the tax code to three individual income tax rates, with the highest rate set at 28 percent.
He would also cut the corporate tax code from 35 percent to 25 percent.He told state lawmakers in February that he would not raise taxes to help solve New Jersey's budget crisis.
Source: PBS News Hour "2016 Candidate Stands" series
Jun 30, 2015
Bobby Jindal:
Eliminate some deductions & loopholes; broaden the tax base
On taxes, Jindal says he would eliminate state income taxes, and look to local governments to plug Louisiana's budget hole.It is not yet clear how Jindal would address the federal tax system. As governor of Louisiana, he has pushed to eliminate state
income taxes by eliminating some deductions or loopholes and trying to broaden the tax base. Faced with significant state budget shortfalls, Jindal has [proposed cutting back on tax credits that largely help local governments.
Source: PBS News Hour "2016 Candidate Stands" series
Jun 24, 2015
Donald Trump:
One-time 14% tax on wealthy to pay down national debt
What does Trump believe? Taxes: End corporate taxes. Lower individual rates. Consider a one-time tax on the wealthy to pay down the debt.In 2011, Trump outlined a plan to end corporate taxes and significantly reduce individual taxes with a five-tier
income tax system. In his proposal, the lowest earners would pay a 1% income tax and Americans earning more than $1 million would pay 15%. Trump proposed a one-time 14.25% tax on America's wealthiest residents in order to pay down the national debt.
Source: PBS News Hour "2016 Candidate Stands" series
Jun 16, 2015
Lindsey Graham:
Increase revenues to reduce national debt
Graham would move toward a flat tax; his plan is to increase revenue, potentially including taxes, to help balance the budget.A deficit hawk, Graham believes the national debt has ballooned to the degree that spending cuts alone cannot address it and
Republicans must put revenue increases on the table.
On tax reform, he has advocated for a flat income tax rate which would be the same across incomes, allowing deductions for home ownership, charitable giving or taxpayers living on fixed incomes.
Source: PBS News Hour "2016 Candidate Stands" series
Jun 1, 2015
Mike Huckabee:
Replace IRS & income tax with national sales tax
Huckabee would eliminate the income tax and the IRS, replacing it with national sales taxHuckabee proposes a national "Fair Tax." The idea would eliminate income, corporate, capital gains and a
number of other taxes and replace them with a single sales tax. He would also eliminate the IRS, arguing the simple system would make it unnecessary.
Source: PBS News Hour "2016 Candidate Stands" series
May 5, 2015
Carly Fiorina:
Current tax system is in desperate need of reform
Fiorina said the current tax system is "in desperate need of reform" and argued for a simpler tax code, though she did not give specifics. She advocated zero-based budgeting, which would start funding discussions
from a base budget of zero every year and build from there, rather than starting with the amount of funding the department received the previous year.
Source: PBS News Hour "2016 Candidate Stands" series
May 4, 2015
Ben Carson:
IRS unneeded with proportional flat tax system
Writing in the Washington Times in 2013, Carson advocated a "proportional" or flat tax system in which every American would pay the same rate.
He would eliminate corporate loopholes and also eliminate policies sheltering the poor from having to pay taxes. Such a system, he argued, would make the IRS unnecessary.
Source: PBS News Hour "2016 Candidate Stands" series
May 3, 2015
Bernie Sanders:
Double the capital gains tax for the wealthiest 2%
The current ranking minority member on the Senate Budget Committee, Sanders would nearly double taxes on capital gains and dividends for the wealthiest two percent of Americans. In addition, this year Sanders asked President Obama to use
executive action to close six tax deductions benefitting corporations and hedge funds. The Vermont senator would use some of the revenue gained from higher taxes on the rich to lower taxes for middle and lower class Americans.
Source: PBS News Hour "2016 Candidate Stands" series
Apr 30, 2015
Page last updated: Dec 07, 2018