Taxes

MEMO: Unanswered Questions From The GOP Debate / Rick Perry Joins The Race

Thursday night, the Republican candidates for President took the stage for a debate in Iowa.

Though the proceedings were overshadowed by Rick Perry, who is following in Fred Thompson's footsteps as the GOP's "next big thing," there was a moment in the debate which provided perhaps the most important insight into the current state of the Republican Party. Each of the candidates raised their hand to indicate that they would walk away from any compromise legislation that included revenue, even at a 10:1 ratio in favor of spending cuts. This should not be considered a surprise considering the brinksmanship of Republican candidates who have used extreme rhetoric advocating default or dangerous economic policies to push our economy over the edge.

With that said, here are the questions that we’re still waiting for Republican candidates to answer, after the jump.

MEMO: Questions For The Republican Debate

During tonight’s debate the American people will see the Republican candidates firsthand and will get a glimpse at the positions and ideology driving the field. Over the last few months, as they have scrambled further and further to the right, American Bridge’s research and tracking has documented the candidates adopting positions that are: hypocritical (Romney and taxes), evasive (Huntsman and Libya) and just downright out of the mainstream (Bachmann and contraceptives). Yet tonight, as the candidates face a national audience, and not solely a fawning crowd of TEA party activists, the nation will see if they will maintain their extreme positions as the candidates attempt to answer the following questions...

VIDEO: Romney Said He "Loves " The Idea Of A Flat Tax

ROMNEY SAID THIS WEEK HE LOVES THE FLAT TAX – JUST NOT THOSE THAT GIVE BREAKS TO WEALTHY AMERICANS

Washington Post Editorial: An early flip-flop for Senate candidate George Allen

An August 3, 2011 Washington Post editorial wrote:   AS A ONE-TERM Republican senator, George Allen voted four times to…

AP: Lugar: Norquist tax pledge, others hamper Congress

On July 31, 2011. the Associated Press reported:

Lugar is the only Republican in the state’s Congressional delegation who hasn’t signed Norquist’s pledge, which requires the signer to “oppose and vote against any and all efforts to increase taxes.” The pledge is popular in Tea Party circles, and for Lugar, who faces a tough primary challenge from State Treasurer Richard Mourdock, a Tea Party favorite, signing it might seem to make sense. But Lugar said he won’t sign any political pledges because they tie lawmakers’ hands.

WSJ: Bachmann: Everybody Should Pay Taxes

On July 21, 2011, the Wall Street Journal reported:

"Republican presidential candidates have been resolutely opposed to tax increases in the debate over the nation’s budget straits, but Minnesota Rep. Michele Bachmann this week suggested there’s one group that needs to be paying more: poor people who pay nothing now."

Huntsman Refuses To Sign Pledges…Except When He Signs Pledges

Huntsman: “I Don't Sign Pledges -- Other Than The Pledge Of Allegiance And A Pledge To My Wife.” According to The Hill, "Jon Huntsman explain[ed] why he won't sign any of the growing number of pledges; 'I don't sign pledges -- other than the Pledge of Allegiance and a pledge to my wife.' Huntsman said. He says he told [South Carolina Senator Jim] DeMint 'You just have to understand that's where I come down.'" [The Hill, 7/12/11] More research after the jump

The Hill: Sen. Lugar calls for 'fair tax' in web video

On June 2, 2011, The Hill reported:

Indiana Sen. Dick Lugar (R) said outlined his support for the so-called fair tax in a web video released to supporters on Thursday. Lugar said he'd support tax reforms that abolish the IRS and replace the federal income tax with a national retail sales tax. There is currently legislation based on the fair tax plan pending in Congress, but observers say it has little chance of becoming law.

Mitt Romney's Tax Returns

2010 Mitt and Ann Romney Return Part A 2010 Mitt and Ann Romney Return Part B 2010 Mitt and Ann Romney Return Part C 2010 Mitt and Ann Romney Return Part D 2010 Mitt and Ann Romney Return Part E 2010 Mitt and Ann Romney Return Part F 2010 Mitt and Ann Romney Return Part G 2010 Mitt and Ann Romney Return Part H See more after the jump.

Dean Heller On Tax Breaks For Oil Companies

Heller Voted To Keep Oil And Gas Subsidies While Not Voting To Renew Renewable Energy Loan Guarantee Program. Heller voted to keep billions in tax breaks for oil and gas while voting against the renewable energy loan guarantee program that funded projects such as the Crescent Dunes plant in Tonopah, NV. Ian Rogoff, the executive chairman of Heliopower, an integrated energy develop company, commented that the federal government favored oil and gas companies over renewable energy, “Oil and gas tax benefits have been renewed, which means government support for those industries has been renewed ... for the most part, these incentives [such as loan guarantees] are just in place to allow these new technologies and new industries to compete effectively, and compete against incumbents.” [Las Vegas Sun, 5/25/11; Las Vegas Review-Journal, 6/25/11, Las Vegas Sun, 5/20/11] Heller Voted to Protect Oil Company Tax Breaks Over Middle Class. In 2008, Heller voted to kill a one-year adjustment for the Alternative Minimum Tax with instructions that it be reported back promptly with language that would eliminate tax increases providing offsets in the bill, and provide that deductions in mileage rates for vehicles used for charitable purposes are treated the same as medical travel and moving rates. Democrats put revenue-raising offsets into the bill, arguing that the $62 billion in revenue that would be lost through the patch must be made up. The revenue increases targeted private-equity managers, the oil and gas industry, certain foreign-owned corporations and merchants who underreport their income. Republicans contended that offsets were unnecessary because the patch would simply maintain the tax status quo. They also said a temporary tax reprieve should not require permanent revenue increases and argued that the budget deficit should be closed by spending cuts, not revenue increases. Rep. McCrery, the ranking member of the Ways and Means Committee, offered the motion to recommit that would have removed the offsets and increased the tax deduction for miles driven for charitable purposes. McCrery warned about the proposal’s economic effects, saying “that change in our tax code would discourage, at the margin, that capital from coming to this country, being invested in this country and creating jobs in this country,” he said. The motion failed, 199-222. [Vote #454, 6/25/2008; CQ Today, 6/25/08]