TaxProf Blog

Editor: Paul L. Caron
Pepperdine University School of Law

Thursday, October 11, 2007

Republicans Introduce Taxpayer Choice Act

Conservative congressional Republicans (led by Representatives John Campbell (CA), Jeb Hensarling (TX), and Paul Ryan (WI)) unveiled today "the most far-reaching tax plan since Jack Kemp's three decades ago. It would establish a radically simplified, flatter tax for an estimated 90 to 95 percent of income-tax filers":

  • Taxpayers have choice whether to continue under current income tax or opt into new system
  • Two tax rates:  10% on first $100,000 of income; 25% on income over $100,000
  • Capital gains and dividends continue to be taxed at 15%
  • Repeal AMT
  • Large standard deduction ($12,500 single; $25,000 joint)
  • $3,500 personal exemption (so $39,000 no-tax threshold for family of four)
  • Eliminate all current deductions (including home mortgage interest, charitable contributions, and state and local taxes)


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They're trying to pull a fast one, because they know Americans are catching on fast that the income tax is a scam and is unconstitutional.

Posted by: Kimmer | Oct 11, 2007 8:36:38 PM