Tommy Thompson on Tax Reform
Former Secretary of H.H.S.; former Republican Governor (WI)
Baldwin's claim that Thompson's tax plan would cut taxes by $87,000 for the top 1 percent of income earners was rated Mostly True. Thompson didn't refute the figure and experts said it was a good estimate, but that Thompson's plan lacks enough detail to know for sure.
A public employee union's claim that Thompson "supports massive tax cuts for corporations that outsource jobs" was partially accurate. Thompson would, under certain conditions, exempt from taxation U.S. companies' profits from overseas operations. But it's not clear whether U.S. employment would decline under this approach; and part of Thompson's plan provides incentives that could convince companies to bring profits back home.
A: I was governor of Wisconsin and vetoed 1,900 items, and reduced taxes $16.4 billion. I think the biggest problem weíve got in America is the alternative minimum tax thatís bringing more middle-income people in. Letís put it in -- letís have the people have a flat tax and have the option of paying whichever is least.
And tonight, the stateís national tax ranking has fallen to ninth in the nation. And when the cuts we enacted for years 2000 and 2001 are factored into the equation, we can say with confidence that Wisconsin is finally out of the top 10 states.
In 1993, we came up with a new idea. I simply proposed a freeze on property tax rates. "Freeze" was something everyone understood. People knew property taxes were out of control, and the freeze spoke to their concern. To most people, it meant, "We're going to stop this thing in its tracks." It didn't take long for the discussion over property taxes to shift. Finally, people on Main Street began to understand that to hold these taxes where they were, spending had to be "frozen" as well.
The rate freeze became a major issue. It allowed us to circumvent the bureaucrats and interest groups and speak directly to the people about the need to control spending.
We have never spent more time putting a budget together--literally thousands of hours combing through agency budgets line by line. Looking for efficiencies. Looking for programs and positions that are no longer fundamental to our state responsibilities. As I said, it wasn't easy. But this budget is straightforward.It turns a tremendous challenge into a tremendous opportunity. And it provides the largest single tax cut in the history of this state.
Christian Coalition publishes a number of special voter educational materials including the Christian Coalition Voter Guides, which provide voters with critical information about where candidates stand on important faith and family issues. The Christian Coalition Voters Guide summarizes candidate stances on the following topic: "Increasing federal income tax rates"
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