Tim Pawlenty in The Wall Street Journal

On Government Reform: Eliminate the Post Office

To help balance the budget, Pawlenty would cap federal spending at 18% of GDP. Since spending is projected to be about 24% of GDP this year, reaching Pawlenty's target would require about $1.1 trillion in annual spending cuts. He provided no clear roadmap of how to reach that level of spending cuts, but said he would apply a "Google Test": if a good or service can be found on the Internet, the government probably shouldn't be doing it. But Pawlenty's suggestion to eliminate federal ownership of the Postal Service , Amtrak, and the Government Printing Office would have limited effect on the deficit. The postal service is part of the federal government, but the Treasury doesn't fund it.

On Tax Reform: Just two tax brackets: 10% below $100K; then 25% above that

The Pawlenty plan would collapse the current six income-tax rates into two: a 10% rate on the first $100,000 of income for couples and a 25% rate on all income above that. Under current law, the top bracket is 35%. Pawlenty said he wouldn't propose ending current deductions, such as those for home-mortgage interest. Taxes would also be eliminated on capital gains, interest, dividends, and inheritance. The corporate income-tax rate would be cut to 15% from 35%, and small businesses would be given the choice to pay that rate or individual income-tax rates.