Huntsman Takes Break From Mocking Voters To Announce Intriguing Jobs Plan
Former Utah Gov. Jon Huntsman has taken a break from his curious campaign strategy of ripping on prospective voters by doing something really weird: announcing a dramatic plan to restructure the tax code.
What's more, it's actually pretty good.
It's part of his new jobs plan but the restructuring of the tax code would involve the removal of all loopholes, deductions and tax expenditures and the elimination of the home mortgage deduction. It focuses on four areas: tax reform, regulatory reform, energy independence and free trade.
As Jim Pethokoukis writes:
To me, the Huntsman plan looks like pro-free market populism, anti-crony capitalism
The plan is being announced a week before President Barack Obama and former Massachusetts Gov. Mitt Romney announce their plans. I wonder if this puts the pressure on them to come up with something as dramatic.
From the CNN story:
Huntsman would eliminate capital gains, dividends taxes, and the Alternative Minimum Tax, and reduce the corporate tax rate to 25 percent. His plan calls for three individual tax brackets set at eight, 14 and 23 percent. The changes to the tax code would be revenue-neutral. ...
"The President believes that we can tax and spend and regulate our way to prosperity. We cannot. We must compete our way to prosperity," Huntsman plans to say. "We need American entrepreneurs not only thinking of products like the iPhone or Segway; we need American workers building those products. It's time for made in America to mean something again."
It's a shame Huntsman spent the last several weeks ripping on voters. Otherwise this plan would probably receive a much better reception. Or is it a good enough plan to let bygones be bygones?
What do you think? Does this make you want to give Huntsman another look?