Statements about Taxes
Says he "cut taxes by more than $600 million" when he was governor.
"A cashier earning $20,000 per year pays the same (Virginia) income tax rate as a hedge fund manager earning $20 million per year."
George Allen cast "the deciding vote" for the 2003 Bush tax cuts.
The U.S. would gain revenue by cutting personal income tax rates in half and ending tax breaks.
George Allen's flat tax "plan would actually shrink revenues further than the Perry (flat tax) plan."
Says his proposed payroll tax cut "will mean an extra $1,500 in your pocket compared to if we do nothing."
"If you look at our tax mix, the share of corporate revenues as a percentage of our overall revenue mix has declined by about half over the last 30 years."
"The tax on job creating businesses is 35 percent in the United States, second worst in the entire world."
Virginia is "headed towards another surplus this year, unlike most states."
There is "a situation in this country where you're nearing 50 percent of people who don't even pay income taxes."
Rep. Paul Ryan’s Medicare plan "lines the pockets of the private insurance companies," increases costs for seniors and does not reduce the deficit.
"Right now we are spending at an all-time high, close to 25 percent of our GDP [is] being spent on the federal government. But our revenues are at an almost all-time low of about 15 percent [of GDP]."
Tim Kaine broke a campaign promise not to raise taxes.
Tim Kaine proposed "over $6 billion in tax increases from the time he entered the governor’s mansion until the time he left."
"Over the past decade, the big five oil companies --- BP, Chevron, ConocoPhillips, ExxonMobil and Shell -- made a total profit of nearly $1 trillion."
The health care bill has "six years of costs against 10 years of tax revenue."
The U.S. loses more on tax breaks than it collects in personal income taxes.
The health care reform law "offset[s] 6 years of benefits with 10 years of tax increases."
The tax-cut deal "adds more than $800 billion to the deficit over two years -- more than the cost of TARP and more than the cost of the Recovery Act" and about the same as health care reform.
The Bush-era tax cuts failed to increase employment and "work-force participation fell in 2001 and has never returned to the record level set in 2000."
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