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Ed Gillespie on Tax Reform
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Decrease state's personal income tax rate to spur growth
Republican gubernatorial front-runner Ed Gillespie has called for a slight decrease in the state's personal income tax rate, a proposal Gillespie has said will spur economic growth but critics have attacked as a giveaway that will help the wealthiest.
The Gillespie campaign said Tom Perriello's plan could increase the costs of services "like a haircut or an auto repair" and hurt job growth by raising taxes on small business owners.
Perriello said his plan would create a "level playing field" for small businesses [by raising taxes on the highest personal income tax brackets as well as on big business].
"The contrast in the two plans is clear," said Gillespie spokeswoman Abbi Sigler. "Ed wants to cut taxes for all Virginians. Tom Perriello believes in a bigger government funded by tax hikes that harm economic growth and job creation."
Source: Roanoke Times on 2017 Virginia gubernatorial race
, Apr 28, 2017
Use 40% of projected revenue growth for tax relief
The televised debate between Virginia's GOP gubernatorial candidates saw front-runner Ed Gillespie touting his income tax cut as the elixir that would revive Virginia's economy. His opponent, Corey Stewart, wasn't buying it.Stewart called Gillespie's
plan a "charade," and for good reason. It relies on that most dangerous of concepts: revenue projections. Gillespie's plan would use "40% of projected revenue growth for tax relief" and use the rest of that projected growth to cover "new spending over
the next five years."
It sounds responsible. But projecting future revenue flows--even with the most sophisticated modeling--is guesswork. And even if the guesses are correct, they [don't account for] the rainy day fund, the water quality fund, the
transportation trust fund and other priorities, including pay raises for state workers.
Gillespie says his cut would take just $1.3 billion from state coffers. Looking at the balance sheet, Virginia doesn't have that money to give.
Source: Washington Post on 2017 Virginia gubernatorial debate
, Apr 14, 2017
Believes in conservative ideas of lower taxes
Gillespie believes in things, like conservative ideas of lower taxes and less regulation. These may sound bland, but Ed adds a personal perspective.
Having grown up in a working-class family, he believes that the key to restored prosperity lies in a renewed middle class, one that relies on its own work ethic and a business-friendly government, not an expansion of a welfare state.
He is, I imagine, rather angry with what he sees as liberals' condescension to the
middle class and what he views as their assumption that only government can solve their problems
Source: Washington Post on 2014 Virginia Senate race
, Dec 9, 2013
Death tax is an egregious aspect of our tax code
Frank Luntz conducted one of the focus groups testing the Contract with America. Focus groups are Frank's lifeblood. He loves them. He loves to probe people and dig out phrases from them. It is a legitimate skill, and he is very good at coming up with
catchphrases. He's responsible for redubbing the estate tax the "death tax" (a fact everyone in Washington knows, because he made sure he was credited for it, instead of the members of Congress who actually repealed that egregious aspect of our tax code)
Source: Winning Right, by Ed Gillespie, p. 45-46
, Sep 5, 2006
Repeal marriage tax; cut middle class taxes.
Gillespie signed the Contract with America:
[As part of the Contract with America, within 100 days we pledge to bring to the House Floor the following bill]:
The American Dream Restoration Act:
A $500-per-child tax credit, begin repeal of the marriage tax penalty, and creation of American Dream Savings Accounts to provide middle-class tax relief.
Source: Contract with America 93-CWA7 on Sep 27, 1994
Page last updated: Aug 25, 2017