Stephen Laffey on Tax Reform

Republican Senate Challenger

Tax cuts are good for America

Q: How do you reconcile that you will not as a Senator vote to raise taxes? A: Nobody made any promises but we were forced to raise taxes. When I took over as mayor of Cranston, we were 30 days on defaulting in debt, missing payroll, on and on and on. We did, we put in a supplemental tax in the first couple of weeks. I believe the tax cuts have been good. Proof is in the pudding. Revenue to the federal treasury in the past two years is up 12% to 14% or $500 billion. The tax cuts are good for America.
Source: 2006 R.I. Republican Senate Primary debate on WPRI Aug 24, 2006

Eliminate estate taxes, capital gains taxes, and more

The current US tax code is a "monster" that confuses people and hinders growth of the economy, Laffey said as he outlined a rough plan to overhaul federal income-tax laws. Laffey's proposal would eliminate the tax on estates, interest, dividends, capital gains and Social Security benefits. Laffey's theory is this: without a tax on dividends and interest, Americans are more likely to invest and that means growth in the economy.
Source: Scott Mayerowitz , Providence Journal, "Streamline Tax Code" May 2, 2006

Lower highest tax rate from 35% to 30% to help middle-class

Laffey would lower the highest marginal tax rate -- that paid by the highest wage earners -- to 30 percent. The top federal marginal income tax rate was 39.6 percent when President Bush took office in 2001. Through a series of tax cuts, that top rate has now fallen to 35 percent.

Laffey said it is not the rich, but the middle class that would benefit the most. He said the rich already pay significantly less "because they have the best accountants."

Source: Scott Mayerowitz , Providence Journal, "Streamline Tax Code" May 2, 2006

Keep taxes low and simple

[As part of Laffey's "Five Step Diet to Stop Washington's Addiction to Wasting Our Tax Dollars", Laffey recommends] keeping taxes down and simplify the tax code to generate economic growth. The best and most time-tested way to create jobs and stimulate the economy is to keep taxes low and simple, but Washington politicians think they know better.
Source: Press release, "Five Step Diet" Sep 9, 2005

Other candidates on Tax Reform: Stephen Laffey on other issues:
RI Gubernatorial:
Donald Carcieri
RI Senatorial:
Carl Sheeler
Jack Reed
Lincoln Chafee
Matt Brown
Sheldon Whitehouse

2004 Presidential:
Pres.George W. Bush
Sen.John Kerry
Ralph Nader

2008 possibilities:

Sen.Hillary Clinton
Sen.John Edwards
Sen.Russ Feingold
Rudy Giuliani
V.P.Al Gore
Sen.Barack Obama
Sen.John McCain

2006 Senate retirements:
Jon Corzine(D,NJ)
Mark Dayton(DFL,MN)
Bill Frist(R,TN)
Jim Jeffords(I,VT)
Paul Sarbanes(D,MD)
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