Domestic Taxes

Study: Gingrich tax plan aids wealthy, adds to deficit

{mosads}It would also give the top 0.1 percent of taxpayers, on average, a tax cut of either $1.9 million or $2.3 million in 2015, depending on if the Bush tax cuts were extended. In all, the wealthiest taxpayers would owe the federal government a tenth of their earnings, compared to the current 38 percent, the tax center found.

Gov. Rick Perry of Texas, who is also seeking the GOP nomination, has also crafted a plan that would feature a flat tax and also give taxpayers the opportunity to stick with the current system. The Tax Policy Center has found that Perry’s plan would not add as much to the deficit as Gingrich’s proposal.


Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

See all Hill.TV See all Video

Most Popular

Load more


See all Video