Politicians love to talk about cutting taxes, but in recent years there has been a disturbing trend in who is receiving these cuts. Congressman Toomey (R-Upper Class) and President Bush did things correctly, giving the majority of their massive tax cuts to the top 1 percent of earners. But now there is talk about only extending these cuts for the bottom 98 percent. [Note from Team Toomey: when talking to your friends, you can say that the Democrats want to raise their taxes; sure, not giving more tax cuts is not the same thing as raising taxes, and the vast majority of voters would be unaffected by this, but they won’t know that] We cannot allow these modern day Robin Hoods to change our priorities. It is so important that we cut taxes for America’s millionaires that we don’t even have to pay for it; the debt is so large already, what’s another $700,000,000,000?

Congressman Toomey has introduced his tax plan — with two options! — to rectify this situation and return the tax burden where it belongs: on the middle class.

  1. Congressman Toomey has championed flattening the tax code so that the richest among us will pay the same low rate as the average earners — cutting their taxes in half!

  2. But that’s not all! Are you a CEO at a bailed-out bank? Making millions on Wall Street? Well you’ll pay nothing, that’s right nothing, on your Wall Street earnings, thanks to Congressman Toomey’s elimination of the capital gains tax.

  3. Now, you’re probably thinking, all this sounds great, but it makes things equal for everyone. This isn’t Russia, I want my advantage! Well Congressman Toomey’s plan accounts for that, eliminating all those pesky deductions working families use to lower their taxes. You’ll be getting a $200,000 tax cut while 95 percent of workers would see an average tax hike of almost $3,000.

His other plan goes even further:

  1. He would eliminate the entirety of the IRS all together and replace it with a national sales tax of at least 30 percent.

  2. By taxing only things we spend money on, and nothing else, you’re tax burden will drop significantly — as long as you make more than $200,000 a year. If you make between $15,000-$200,000 a year, your tax burden would rise; but if you make less than $200,000 a year, you’re probably looking at the wrong candidate.

“I think the solution is to eliminate corporate taxes altogether.”

- Congressman Toomey, CNBC, 7/20/08

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The Real Pat Toomey | New York | Hong Kong | Washington, D.C.