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Tax Plan Comparison of The 2012 Presidential Candidates

2012 Presidential Candidate Tax Plan Comparison Confused about the proposed tax reform from each of the presidential candidates? Be confused no more. ATR has compiled a single chart that covers the essential differences between each candidate's plans. As proposals change, this chart will be updated, so be sure to download it and email it to your friends. Gingrich Romney Paul Perry Obama Santorum Taxpayer Protection Pledge Signer No Yes Yes Yes Yes Yes Individual Income Tax Rates Obama Gingrich Paul Perry Romney Santorum 15% Flat Optional 20% Flat 10-39.6% 10-35% Optional 10-35% 10-28% Business Tax Obama Gingrich Paul Perry Romney Santorum 35% 12.5% 15% 20% 25% 17.5% Corp Corp Corp Corp Corp 28% Small 39.6% 15% 35% 35% Biz Small Small Small Small 0% Biz Biz Biz Biz Manufacturing Capital Gains / Dividends Tax Rate Obama Gingrich Paul Perry Romney Santorum 15%/0% 23.8% 0% 0% 0% <200k 12% Income Payroll Tax Obama Gingrich Paul Perry Romney Santorum 2% Optional Personal Opt-out Optional Personal No No Holiday Change Change Accounts Account Medicare Payroll Tax Hike from 2.9 to 3.8% Death Tax Obama Gingrich Paul Perry Romney Santorum 45% Top Killed Killed Killed Killed Killed Rate Full Business Expensing Obama Gingrich Paul Perry Romney Santorum Yes Yes Yes Yes No Yes Territoriality Obama Gingrich Paul Реггу Romney Santorum Just No Yes Yes Yes Repatriation Repatriation Column Definitions Tax Pledge: Has the candidate signed the "Taxpayer Protection Pledge" sponsored by Americans for Tax Reform? Individual Rates: What tax rate or tax rate range does the candidate want the individual income tax to have? Business Tax: At what marginal tax rate would the candidate tax corporate and small business profits? Cap Gains: At what marginal tax rate would the candidate tax capital gains and dividends? Payroll Tax: What, if any, changes would the candidate make to the Social Security and Medicare payroll tax system? The payroll tax is currently 15.3% (12.4% for Social Security, 2.9% for Medicare) notionally split evenly between employers and employees. A wage and self-employment cap of $106,800 exists for the Social Security tax. The Medicare tax applies to all wages and self-employment profits. Death Tax: What, if any, changes would the candidate make to the death tax? Full Business Expensing: Is the candidate in favor of letting all businesses deduct all purchases the first year? Territoriality: Does the candidate support ending the double taxation of income earned overseas? Americans for Tax Reform Chart Citations: Romney: http://mittromney.com/blogs/mitts- view/201 1/09/believe-- america mitt-romneys plan-jobs-and-economic growth Perry: http://www.rickperry.org/content/uploads/2011/10/Cut- Balance-and-Grow-Summary.pdf Paul: http://www.ronpaul2012.com/the-issues/taxes/ Gingrich: http://www.newt.org/contract/legislative proposalstTwo Santorum: ATR staff communication with Santorum staff 722 12th ST NW Suite 400 Washington, DC 20005 202.785.0266 (P) 202.785.0261 (F) Obama: http://www.whitehouse.gov/sites/default/files/omb/bud get/fy2012/assets itables.pdf AMERICANS AIR Copyright © 2011 http://www.atr.org Twitter: @taxreformer

Tax Plan Comparison of The 2012 Presidential Candidates

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Confused about the proposed tax reform from each of the presidential candidates? Be confused no more. Here's a compiled single chart that covers the essential differences between each candidate's plans.

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