Santorum Touts Two-Tier Tax Plan: 10% and 28%

January 16, 2012 - 11:09 PM

Myrtle Beach, S.C. (CNSNews.com) – Republican presidential candidate Rick Santorum told CNSNews.com that his two-tier tax reform proposal is bold and would spur economic growth.

“It’s a strong aggressive plan to cut taxes, simplify the code and create economic growth,” Santorum told CNSNews.com on Monday. “We feel -- as the Wall Street Journal says -- it’s one of the boldest plans out there.”

Santorum has proposed a two-tier tax plan of 10 percent and 28 percent. He has pointed out that a flat tax would be difficult to get through Congress, but noted that a Democratic Congress supported President Ronald Reagan’s top tax rate of 28 percent.

Santorum, a former Pennsylvania senator, became a top-tier candidate after coming just eight votes short in his second place finish the Iowa caucus against GOP frontrunner Mitt Romney.

Santorum is ranking third or fourth in most South Carolina polls.

The Wall Street Journal editorial page on Jan. 8 said the Santorum plan was preferable to the Romney plan.

“He proposes a return to the Reagan-era top rate of 28%, and a second rate of 10% for middle-income Americans,” said the Journal. “He also wants a 12% capital-gains tax, down from 15% today, and half the 23.8% rate that Mr. Obama has promised in 2013.”

“This beats Mr. Romney, who refuses to propose a cut in individual tax rates lest he be accused of favoring the rich,” the Journal editorial continued. “Mr. Santorum doesn't dodge the class-war argument, which Mr. Obama won't let the GOP nominee dodge in any event.”