http://money.cnn.com/2012/01/05/news/economy/santorum_taxes/
Jeanne Sahadi
Jan 5th, 2012
Santorum's tax plan should awaken more people since he has risen in the race. He said he will reduce the number of income tax brackets for 10% to 28%. He will also triple what his campaign identifies as the personal deduction that parents can claim for their children.
He is also willing to eliminate the so-called marriage penalty, which usually causes two-earner couples to owe more in federal income taxes than if they filed as individuals. He will eliminate the Alternative Mininum Tax and the Estate Tax. Santorum wants to reduce the capital gains rate from 15% to 12%.
For businesses, he would cut the corporate income tax rate in half to 17.5% and eliminate it entirely for manufacturers. Santorum proposes to simplify the tax code but he wants to simultaneously focus on the most popular deductions (health insurance, retirement savings and mortgage interest).
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