Sen. Rand Paul will debut his plan for a flat federal income tax Thursday as he outlines a key platform of his 2016 bid for the Republican presidential nomination, Stephen Moore, chief economist for The Heritage Foundation, has revealed to Newsmax TV.
"This thing is going to be really exciting. It's got really low rates, it clears out all the pollution in the tax system," Moore said Monday on "The Steve Malzberg Show."
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"Rand calls this the biggest reform to the income tax system since 1916. So you know when you talk about who is bold, that's going to be the standard by which all other plans are."
Moore said the Kentucky Republican's plan is "really simple" and "really fair" because every American will pay the same federal tax rate.
"If you make 10 times more than I do you pay 10 times more tax. It gets rid of a lot of the special interest provisions and loopholes in the code," Moore said.
"So that's all pretty cool stuff. I'll be interested to see, by the way, what Jeb Bush has to say … Jeb hasn't really put out firm policy positions yet and that's going to be critical to him, to his success."
Paul's announcement will signal the first detailed flat-tax plan from a Republican candidate.
Two months ago, renowned economist Larry Kudlow urged GOP candidates to come up with a flat tax plan in order to be successful in next year's presidential run.
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