Giuliani Unveils Massive Tax-Cut Plan

After conceding last night in New Hampshire, Rudy Giuliani told his supporters that this was just the beginning of a "very long and very tough game." Well, it looks like the former mayor has decided to go on offense as he announced today what his campaign is calling "largest tax cut in the history of America." Larry Kudlow opined on the plan today on National Review, calling it a "strong across-the-board tax cut plan."

Pat Toomey, the president of The Club for Growth, seems to like the plan as well, as he applauded it in a press release, saying it was "a bold and innovative proposal that will reward hard work, encourage investment, and promote economic growth for Americans across the economic spectrum."

Here are some of the details of the plan:

"The Giuliani tax cut plan would extend the 2001 and 2003 tax cuts immediately; eliminate the Death Tax completely; lower the capital gains and dividends tax rate to 10% and index capital gains to inflation; lower the corporate tax rate from 35% to 25%; and permanently index the Alternative Minimum Tax to inflation with a plan for eventual elimination."

The press release concludes by saying, "This is exactly the kind of plan economic conservatives should embrace.”