Rudy Giuliani has called for trillions of dollars in tax cuts which would lower corporate rates from 35 percent to 25 percent, and capital gains from 15 percent to 10 percent.
The Republican candidate and his campaign released the plan on Wednesday, saying, "Giuliani's tax plan makes all the Bush tax cuts permanent, including full repeal of the death tax."
Much of the impetus behind this, besides appealing to fiscal conservatives, is the outrageous corporate tax rate in the U.S. of 35 percent, the second-highest in the developed world.
The tax cut strategy of Giuliani would keep the 2001 and 2003 tax cuts in place, while eliminating the estate or death tax altogether.
Included with the package would be the eventual elimination of the alternative minimum tax, which is about to hurt many middle class Americans.
While all of this would be great for Americans, there should be a comprehensive plan included which would also deal with cutting spending.
Overall though, this is a good plan for business and Americans in general. We all know that businesses and people know how to spend money better than the government.
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