Here’s how Rand Paul wants to change the economy
The economic platform of Sen. Rand Paul (R-Kentucky) is chock full of his libertarian convictions, with top billing for tax cuts, a deep reduction in federal spending, and a balanced budget.
But the staunch proponent of small government has had to curtail some of his rhetoric as he tries to reach a more mainstream audience in his bid for the 2016 Republican presidential nomination.
Here’s a look of Paul’s stances on taxes, federal spending cuts, social security, regulation of the federal reserve, energy, and economic freedom zones.
Like many GOP contenders in the 2016 race, Paul wants a flat tax, which he has advocated for in federal budget proposals in 2012, 2013, and 2014.
When Paul first launched his presidential campaign last month, his website featured a detailed proposal, “The Fair and Flat Tax,” also known as the “EZ Tax.” This detailed plan was taken down on April 8, the day after Paul’s campaign kickoff, and replaced with a version of the plan that lacked specifics days later, according to the Washington Post.
The initial proposal, that was stored in Google’s cache and closely mirrors what the senator has previously discussed, shows Paul’s vision for a single flat-tax rate of 17%. He has claimed this would yield a $ 700 billion loss in tax revenue each year.
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