Withdrawn / Thompson on Tax Policy
Words: Thompson believes that tax cuts mean growth. He supports replacing income tax (which he feels is “inefficient, maddeningly complex, and expensive to comply with”), with a consumption tax, similar to the FairTax proposal. He argues that the progressive tax redistributes wealth without helping the economy.
Actions: Thompson voted FOR requiring a super-majority for raising taxes (1998), FOR an across-the-board spending cut (1999), FOR eliminating the “marriage penalty” (2000), AGAINST increasing tax deductions for college tuition (2001), AGAINST reducing the “marriage penalty” rather than cutting top tax rates (2001).
