Paul: Federal income tax rate should be zero percent
At the Fox News Republican debate in Myrtle Beach, S.C. Monday night the five remaining candidates were queried about what they believed the highest possible federal income tax rate should be.
While the rest of the field offered substantive percentages, Texas Rep. Ron Paul set himself apart by saying that Americans’ income tax rate should be zero percent.
“We should have the lowest tax that we’ve ever had, and up until 1913 it was zero percent,” Paul said. “What’s so bad about that?”
By contrast Texas Gov. Rick Perry said the highest rate should be 20 percent, Gingrich said the highest rate should be 15 percent, former Massachusetts Gov. Mitt Romney said 25 percent and former Pennsylvania Senator Rick Santorum said it should be 28 percent.
Paul added, however, that the real culprit in the tax game is inflation.