A TAX PLAN BETTER THAN OBAMA’S IS NOT GOOD ENOUGH
Of those who are running for president, who has the best and worst tax plans? The worst plan is easy: President Obama's.
By way of disclosure, I was part of the small team that developed and helped market President George H. W. Bush's economic platform back in 1988. The first President Bush won, in part, because he had a clear, understandable plan - ‘Read my lips: No new taxes' - and a ‘flexible freeze' to control spending.
Unfortunately for him and the country, he abandoned the ‘flexible freeze' soon after taking office and the tax pledge two years later. His reversal played a big part in his subsequent defeat in 1992.
Mr. Obama seems not to have learned from the mistakes of the first President Bush. He has repeatedly pledged not to increase taxes on anyone making less than $250,000 a year and to do everything possible to increase jobs. Yet, in fact, he has already signed 21 tax increases into law.
It's easy to have a tax plan better than this. So let's look at those of all four GOP candidates.