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Rand: My Tax Plan The Only One That Eliminates Payroll Tax, Trump’s ‘Will Continue A Lot of The Cronyism’

Kentucky Senator and Republican presidential candidate Rand Paul touted his tax plan over those of his GOP rivals on Tuesday’s broadcast of CNN’s “Wolf.”

Asked about fellow Republican candidate Donald Trump’s tax plan, Rand stated, “I think my tax plan is better. I get rid of all 70,000 pages of the tax code. I have one single rate, 14.5% for individuals, and 14.5% for corporations. I also do something that no other tax plan does, and I get rid of the payroll tax. So, every working class American will have a couple thousand dollars left in their paycheck. So, I like our plan better. It’s simpler. His plan will continue a lot of the cronyism, and a lot of the special interest politics that go with the tax code. Ours would eliminate all of that, and you can file your tax return on one single postcard.”

When asked about raising taxes on hedge fund managers, Rand said, “I would do the opposite. Instead of raising their taxes, I would lower everyone else’s taxes to that level. So, hedge fund guys, people who make capital gains taxes, they pay about 20, 23% right now. What I’d like to do is lower everybody else to 14.5, so individuals now are paying above 40, I’d bring them down to 14.5. I would have one of the most dramatic tax cuts in our history, but it would do is it would leave all of that money in the private economy, and that’s where jobs are created. I think my plan would create millions of jobs, and I think it’s really — stacks up well against any of the other proposals.”

Follow Ian Hanchett on Twitter @IanHanchett

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