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Santorum would cut federal spending by $5 trillion over five years, and pare non-defense spending back to 2008 levels -- a reduction of around 30 percent from 2012. He also backs a balanced budget amendment, which would limit federal spending to 18 percent of gross domestic product -- around $2.6 trillion for this year. He even wants to stop lawmakers from being paid if they don't pass fiscally responsible spending bills on time.
The plan also calls for a flatter tax code, with just two income tax rates: 28 percent, and 10 percent. That would likely mean an income tax cut for many of the richest Americans, who currently pay a 35 percent rate, though Santorum also pledges to eliminate "most deductions," which tend to benefit the rich. And he would cut the capital gains tax from 15 percent to 12 percent, which would help Wall Street professionals and others who make money through investments.
His plan would also likely mean a cut for many of the tens of millions of households making between $17,400 and around $50,000. They'd presumably fall into the 10 percent bracket, down from the 15 percent rate they currently pay. In keeping with his traditional views on social issues, Santorum also wants to encourage family formation (he and his wife have six children themselves), by tripling the personal deduction for each child, and by scrapping marriage tax penalties.
Unlike Mitt Romney, Santorum has said he opposes a rise in the minimum wage, although he wouldn't scrap the concept altogether, as some in his party would. As well as auditing the Fed, he'd have it focus only on controlling inflation, and not on promoting employment. Santorum supports Rep. Paul Ryan's plan to save money by transforming Medicare into a system of private insurance. And like every 2012 Republican presidential candidate current or former, he'd repeal President Obama's health-care law. So far, that's a plan that sticks pretty closely to the standard GOP script. But other aspects of Santorum's proposal set him apart from his party, by grappling with issues of concern to Americans further down the economic spectrum.
Again like most of his GOP rivals, Santorum would lower the corporate tax rate. But he'd establish two new rates: 17.5 percent -- a 50 percent cut from the current 35 percent rate -- for most businesses, and zero for manufacturers. The goal, his website says, is to "multiply job opportunities for struggling middle-income families and renew communities that have lost critical manufacturing jobs."
prison workers provide ninety eight percent of the total market for equipment assembly services.
I don't know enough about Santorum's platform to support it, just what I've read in this post. Listen, I don't have any money to contribute to anybody, and the Republican nominee will be picked without my influence, so it will be Obama versus somebody, and I don't care enough to get excited yet. Come back in September.
Read the article that I linked to, and see if you still support his platform. If you do, you might want to make your signature be in bold, flashing letters.