Fred Thompson’s Tax Plan
Fred Thompson has released his tax plan and I have to say that, on first read, it’s pretty good. One of my complaints about most of the candidates this far is that they’re been long on rhetoric and very short on details. Thompson’s plan is the first truly detailed plan I’ve seen come from the Republican side of things (and it may be the first I’ve seen from any candidate, though I seem to remember something coming from the Edwards camp a couple of months ago).
This is exactly what I want to see from the candidates at this point. I don’t care what they say they can do. I want to see, in some fair level of detail, what they plan to do. I want bullet points and numbers and some projection about what the plan could mean for the future if it’s enacted. That’s what Thompson has given us and it’s what more candidates should be providing as quickly as possible.
I’ll have more detailed thoughts on the plan a bit later and I’ll include them as an update to this post.
No related posts.
Category: The 2008 Horse Race, The Economy and Your Money
They Said It: Thompson Social Security Plan Applauded as ‘Courageous,’ ‘Honest,’ and ‘Substantive’
Courage & Honesty
Republican presidential contender Fred Thompson’s plan to save Social Security and protect seniors, which he introduced Friday afternoon in a Washington, D.C., hotel, differs starkly from standard election year pablum on the subject in one key way: He’s actually treating voters like adults. (ABC, 11/9)
Thompson…is seeking to show he is willing to take on tough issues if elected in November 2008, telling a news conference in Washington he was the only candidate to offer an extensive Social Security plan. (Reuters, 11/10)
“You certainly have to admire his courage for putting this out,” said Alan Viard with the American Enterprise Institute. (Tennessean, 11/10)
Supporters contend that Thompson’s willingness to take on the so-called third rail of politics will impress voters. (Bloomberg, 11/10)
Conservative economic experts applauded Thompson for offering specifics on an issue considered to be politically dangerous. (Tennessean, 11/10)
“He’s not afraid to be brutally honest with the American people about the challenges that lie ahead,” said Representative Zach Wamp, a Tennessee Republican who is working to recruit supporters for Thompson. “People can tell the difference between a strong leader telling the truth and a weak leader talking politics.” (Bloomberg, 11/10)
Substance
[Thompson is] the first candidate of either party to offer a detailed proposal to fix the nation’s retirement system. (WP, 11/10)
The Republican candidate laid out a detailed, four-page proposal (WSJ, 11/10)
Mr. Thompson’s plan…was more specific than what the Bush White House put on the table when it sought to overhaul the system. It also varied substantially from the traditional conservative approach of focusing primarily on personal investment accounts. (NYT, 11/10)
Economist Jason Furman said Thompson deserves credit for offering a detailed plan to address the projected Social Security shortfall…(Bloomberg, 11/10)
In discussing policy, Thompson was in his element. (Politico, 11/9)
He’d prefer to talk about substance. (Politico, 11/9)
Thompson’s plan draws on ideas favored by conservatives: a reduction in benefits, rather than an increase in payroll taxes; and a shift toward private accounts, rather than government-provided payments. (WP, 11/10)
Rivals
[Thompson] ventured Friday into an area few rivals have tread: advocacy of a fundamental overhaul of Social Security. (WSJ, 11/10)
Although all of the presidential candidates have spoken, when asked, about the need to fix the Social Security system, none has offered such a detailed plan nor talked so eagerly and often about the issue. (WSJ, 11/10)
Among Republicans, former New York mayor Rudolph W. Giuliani, Arizona Sen. John McCain and former Massachusetts governor Mitt Romney have talked in general terms … but none has offered a specific plan. (WP, 11/10)
Mr. Thompson is the only one of the Republicans running for the White House who has made Social Security a central theme of his campaign. (NYT, 11/10)
He is the only presidential candidate so far to make Social Security an anchor of his campaign. (WSJ, 11/10)
But with less than two months before the 2008 voting begins, candidates have generally been reluctant to confront the Social Security issue. (WP, 11/10)
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Saving and Protecting Social Security
A Plan to Ensure Retirement Security for All Americans
http://www.fred08.com/virtual/socialsecurity.aspx
[...] The Sundries Shack: Fred Thompson has released his tax plan and I have to say that, on first read, it’s pretty good. One of my complaints about most of the candidates this far is that they’re been long on rhetoric and very short on details. Thompson’s plan is the first truly detailed plan I’ve seen come from the Republican side of things (and it may be the first I’ve seen from any candidate, though I seem to remember something coming from the Edwards camp a couple of months ago). [...]