September 17, 2015

Discussing taxes at the September 16 Republican presidential debates, the 15 remaining presidential candidates agreed on only one thing: The current tax system is awful. From there on, candidates went in several directions. Jeb Bush and Donald Trump have said they want to crack down on loopholes for hedge fund managers; Trump hasn’t released any specifics, but told the audience, “I think people are going to like it.” John Kasich bravely pushed back against higher taxes on hedge fund managers, saying he wasn’t ready for “changing the incentives for investment and risk-taking.” Ben Carson wants to have a flat tax that mimics the bible’s tithing system. Sens. Rick Santorum, Ted Cruz and Rand Paul all agree with the flat tax proposal. Mike Huckabee proposes a fair tax, which is a tax on consumption rather than production.

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