January 11th, 2008
10:30 AM ET
10 years ago

Giuliani pledges largest tax cut in U.S. history

[cnn-photo-caption image= http://i.l.cnn.net/cnn/2008/images/01/11/art.giulianiad.cnn.jpg caption="Giuliani is up with a new ad in Florida."](CNN) - Rudy Giuliani has launched a new ad in which the Republican presidential candidate pledges that his first priority as president will be a proposal for the largest tax cut in U.S. history ­ one which would dwarf successful cuts by both President Reagan and President George W. Bush.

In the 30-second spot, 'First Day,' the announcer tells viewers that "On his first day in office, Rudy Giuliani will send Congress the largest tax cut in American history."

Adds Giuliani: "I would lower taxes as President of the United States because it¹s not just an ideology or, or a theory for me. I made it work. I had results."

"Rudy's delivered more tax relief than the other Republicans combined. And now has a plan to cut taxes by trillions of dollars," says the narrator.

Giuliani concludes: "I'm the one who, who's lowered taxes, and lowered spending, and actually gotten it done where it was more difficult to do it than even in Washington, DC."

Giuliani's multi-trillion dollar proposal, unveiled in a speech earlier this week, would reduce the capital gains tax from 15 percent to 10 percent, preserve President Bush's 2001 and 2003 tax cuts, lower the corporate tax rate from 35 percent to 25 percent, permanently eliminate the estate tax, and give taxpayers the option of choosing a simplified tax form with three tax brackets with a maximum bracket of 30 percent. It would also index the alternative minimum tax to inflation - and eventually repeal it entirely.

The new ad will air in Florida, and nationwide.

- CNN's Rebecca Sinderbrand


Filed under: Rudy Giuliani
soundoff (110 Responses)
  1. Ken in RI

    Joe in Mobile, AL: Man, I wish YOU were running! You got it right, friend!

    _________________________
    January 11, 2008 12:23 pm ET

    I like the idea of a tax cut. But he is not helping me any.

    I think we should increase the capital gains tax from 15 percent to 25 percent, put a 10% sales tax on all investment transactions, increase the sales tax on all luxury items, stop foreign investment in US Government securities, leave the corporate tax rate at 35 percent and eliminate income taxes for middle and lower incomes by getting rid of govenment waste.

    Help the middle class for a change.

    January 11, 2008 12:45 pm at 12:45 pm |
  2. Concerned Citizen, IN

    So the part that affects me, as a middle income tax payer, is the simplified form that has a maximum of 30%. Sure, I'd get a tax cut of 3% or so, but the billionaire gets a 5% tax cut on top of the Bush tax cuts, his kids and their kids will NEVER pay taxes on that money as it passes down through the generations, and the corporations will be able to create more millionaires with huge executive pay packages after their 10% tax cut.

    Makes sense...if you are rich.

    January 11, 2008 12:50 pm at 12:50 pm |
  3. Felix

    Ron Paul wants to get rid of the income tax and start a national sales tax.

    He is basically taking the burden off the workers/wage earners and putting it on the retirees and the poor.

    Sounds good until you start thinking of the consenquences.

    January 11, 2008 12:55 pm at 12:55 pm |
  4. chris st pete florida

    Do you people ever look at the national debt? its NVER GONE DOWN EVER EVER EVER..jesus..it was a PROJECTED SURPLUS ...jesus....people DO YOUR HOMEWORK... here

    10/14/1994 4,691,919,831,834.43
    11/14/1995 4,987,139,764,503.11
    11/14/1996 5,254,442,987,704.05
    11/14/1997 5,431,087,031,356.83
    11/16/1998 5,581,706,345,787.83
    11/16/1999 5,689,775,697,887.62
    11/16/2000 5,697,018,859,217.42

    granted bush has doubled that in 7 yrs..BUT dont preach about the 90s and a surplus...never happened

    ps– this is straight from the treasury website.. http://www.treasurydirect.gov

    most people just believe what they hear....and everyone wonders why washington is soo screwed up? Its cause we americans really dont care..(most dont) .. We talk like we wanna do something.. BUT hey we might get our SUV dirty so we dont.... ..

    January 11, 2008 12:56 pm at 12:56 pm |
  5. Sue in Michigan

    And not one word about the deficit! Typical Republican fantasy thinking..if I say "tax cut" people will say "YES!" Not this time Rudy. Bush's tax cuts served no one but rich folks like you, who should have used that money to help out people in trouble. Americans are seeing the recession coming, which mean the rest of you will soon be where Michigan has been since Bush–on a downward spiral. To top that off, we owe everything but the kitchen sink to China, which is why Bush doesn't call for a boycott of Chinese toys until they are safe...we can't say anything bad about China when they're paying for the war.
    Rudy is getting desperate...but if anyone will buy this crap, it may be Floridians. No where else!

    January 11, 2008 12:57 pm at 12:57 pm |
  6. Tom in New Jersey

    What are the costs (consequences) of such massive cuts? Cuts are going to have to come from somewhere. Let me guess...cuts in an already UNDERFUNDED public education system? imposing new fees on Medicaid recipients? Trimming the food stamp rolls? Squeezing student lenders?

    I can tell you where it won't come from...the PENTAGON'S budget!

    Rudy and all of the REPUBLICANS should remember the words of Dwight D. Eisenhower – a true American hero, fellow Republican, and an amazing President:

    "Every gun that is made, every warship launched, every rocket fired, signifies in the final sense a theft from those who hunger and are not fed, those who are cold and are not clothed."

    And let's not forget the warning from another American hero, Dr. Martin Luther King, Jr. whose birthday is quickly approaching us:

    "A nation that continues year after year to spend more money on military defense than on programs of social uplift is approaching
    spiritual death."

    New campaign slogans....RUDY IS RIDICULOUS or RUDY WILL RUIN AMERICA

    January 11, 2008 12:57 pm at 12:57 pm |
  7. Paul, Philadelphia

    May I suggest an alternate title for this post:

    "Guiliani offers record-breaking bribe to American citizens for their votes."

    I like low taxes as well, when it is part of an overall sound fiscal policy. But when you have a national debt which is increasing instead of decreasing, two major wars with no end in sight, and a budding super-power in China which holds a significant portion of your debt, lowering taxes without explaining how our country is going pay its debts, fund its wars, or manage its infrastructure, in addition to providing absolutely no coherent plans for health care, social security, or education, all a promise of an enormous tax cut amounts to is an enormous bribe.

    January 11, 2008 01:01 pm at 1:01 pm |
  8. Cable King Pittsburgh PA

    sounds like Mitt Romney . . . . . . the dude's got no issues and will say anything

    January 11, 2008 01:01 pm at 1:01 pm |
  9. Joseph H, Warner Robins, GA

    And how is Rudy going to reduce the cost of government, so less tax revenue is needed? The demand for tax revenue is directly related to the size and scope of your government, don't believe otherwise.
    Taxes are a necessary evil...you cannot talk about cutting taxes unless you are also talking about cutting the cost of government in the same breath.
    Ron Paul is very specific about how he intends on lowering YOUR tax burden.
    -Eliminate the IRS- you shoudln't be taxed on the fruits of your labor anyways.
    -Shrink the size of government- IRS gone, Dept of Ed gone, and so are other burdensome and ineffecient departments.
    -Sensible foreign policy- no more America policing the world. Face it, we are borrowing from China to conduct an illegal war in Iraq and now there's even talks about spreading the war into Iran. What ever happened to capturing Osama? Did the government give up on that and decide attacking Iran is easier. America's goodness cannot be spread by force.
    -Strengthening and stabilizing the US dollar's value. The US dollar is the stock certificate of the American people and it is losing value daily. This means that the hard-earned money you scrimped and saved and then put in a bank account is less worth today than it was a year ago.

    January 11, 2008 01:02 pm at 1:02 pm |
  10. Rick

    Typical Republican; cut and eliminate taxes on the wealthy and their heirs, cut the already miniscule taxes paid by corporations and expect us working stiffs to pick up the slack either directly or by running the deficit to even greater heights. Then they wonder why we on the bottom hate them for destroying the very fabric of American society and the Constitution.
    This simply confirms my feeling that we need a Second American Revolution to return this country to the ideals of our Founding Fathers.

    January 11, 2008 01:02 pm at 1:02 pm |
  11. Ben, Chicago IL

    I think this sounds great. With the huge gov't deficit this would create, the gov't would borrow/print even more money, hastening the imminent demise of the dollar and the US economy. I was not entirely sure I would see it my lifetime, but this would seal the deal. Get it over with, I say, the sooner the better. There's no way our elected officials would have the guts to actually cut spending enough to take care of the coming social security and medicare funding problem, and of course no one wants to raise taxes, so the only solution is to print/borrow forever until the dollar is useless.

    January 11, 2008 01:03 pm at 1:03 pm |
  12. erin

    Silly Rudy, more tax cuts for the wealthy? What about average, middle class and working class Americans? WE are the people who keep this country running, and we're the ones who deserve a fair break when it comes to taxes.

    At least he's talking about something other than 9/11. "Sideshow Rudy" and his revisionist history – there's a reason the NYC Firefighters and the members of the IAFF do NOT support him.

    We really need to be more informed about these things – it is our responsibility as Americans to keep a close eye on our government and question anything that doesn't sound "quite right." I bet 9 out of 10 Americans will hear "I'll introduce the largest tax cuts in history" and then stop listening – they won't even realize the tax cuts don't apply to them.

    January 11, 2008 01:04 pm at 1:04 pm |
  13. Jackie

    Great. Now I'll be able to afford some tar and go out and fix the pot holes on my street on the weekends!

    January 11, 2008 01:08 pm at 1:08 pm |
  14. Gobama

    The wise and conscientious way to do a tax cut is to:

    PUT THE MONEY IN THE HANDS OF THOSE WHO WILL PUMP IT RIGHT BACK IN THE ECONOMY!
    PUT THE TAX CUT IN THE HANDS OF LOWER INCOME CITIZENS!

    Wealthy people, absorbed in greed, will just PUT THEIR TAX CUTS IN THEIR BANK ACCOUNTS; so as to make them richer and proud, while the economy suffers and the nation's deficit builds.

    Now, poorer people WILL spend the tax cut; and the wealthier people can then get rich when the poorer people spend their money to buy rich people's goods and services, AS THEY WILL!

    January 11, 2008 01:09 pm at 1:09 pm |
  15. AJ; Montpelier, VT

    And how does this arrogant loud mouthed imbicile propose to pay for these tax cuts? More deficit spending. Thats the thing about Republicans, they havent figured out that running our nation costs money. For years you have been hearing about tax and spend Democrats. Dont you think,dont tax and spend Republicans are even worse. At this rate with another idiotic tax cutting Republican in the White House, our dollar should be worth about 7 cents in another 8 years. My advice, start buying foreign currency, NOW!!!!

    January 11, 2008 01:12 pm at 1:12 pm |
  16. Steven B in Phoenix

    Important to remember outright bribery, no matter the result, has worked recently (W)! Worth a try Giuliani!

    January 11, 2008 01:13 pm at 1:13 pm |
  17. roger, conway sc

    As president you can send anything to congress for a vote, that does not mean it will become law unless it is passed...so this is like saying I will give all US citizens a million dollars each if I am elected president...

    January 11, 2008 01:13 pm at 1:13 pm |
  18. Walt, Belton, TX

    Joe, Mobile, AL

    I'd be happy to contribute to your Presidential election!

    January 11, 2008 01:14 pm at 1:14 pm |
  19. sal lincoln nebraska

    RUDy was talking last night about cutting corporate taxes from 30% to like 20 or 25% or something to that extent, he keeps saying over and over again corporations in america pay more in taxes then in the rest of the world. Where the hell else on this planet has a ecnonomy like we do? What a ridiculous stupid argument and people here in nebraka are walking around repeating it like it makes any sense what so ever, yeah its true. What should we compare our corporate taxation system too Bangledesh? Or maybe Hungrey? All the other canidates look like they agree, i really wonder if they have no idea how little sense that statement makes. The whole point of capitalism is for corporations to make as much money as possible to pay in as many taxes as possible, too keep a massive infustructer in place...AND GUESS WHAT CORPORATIONS ONLY PAY 30% WHEN THEY SHOULD BE PAYING 80 OR 90% AND OUR BRIDGES ARE COLLAPSING AND OUR ROADS OUR SHOT OUR PUBLIC SCHOOL ARE PATHERTIC MORE CUBANS CAN READ THEN AMERICANS AND FURTHERMORE AND MOST IMPORTANTLY AMERICANS ARE FORCED TO PAY THE ILLEGAL INCOME TAX WHICH STEALS EVEN MORE MONEY OUT OF YOUR POCKETS. We know where RUDYS intrests lie and who has their hands deep in his pockets

    January 11, 2008 01:15 pm at 1:15 pm |
  20. Steve, Lyons, CO

    "the capital gains tax from 15 percent to 10 percent, preserve President Bush's 2001 and 2003 tax cuts, lower the corporate tax rate from 35 percent to 25 percent, permanently eliminate the estate tax, and give taxpayers the option of choosing a simplified tax form..."

    Gee, regular taxpayers – the entire middle and lower classes – get a simplified form.

    Thanks, Rudy.

    The rich and corporate get everything else.

    Gee, thanks, Rudy.

    Bush Part II: Rudy talks forever about 9-11.

    January 11, 2008 01:16 pm at 1:16 pm |
  21. Cameron Brown

    Everyone likes lower taxes, but which programs does Rudy want to cut to do it?

    January 11, 2008 01:16 pm at 1:16 pm |
  22. ryanc

    Well folks, I was a resident of NYC during Rud'y terms, before he came to office,

    there was rampant corruption, homeless people pissed in your doorway, the subways were filthy, people were getting robbed, mugged. Beggars and bums were in every neighborhood and intimidated old ladies. the whole city council was dominated by democrats so it was impossible for a republican mayors legislation to get passed, the cops were on the take, building inspectors were on the take. You could see rats running down the street, strip joints were in all business districts, sex shops were everywhere, drug dealers dominated neighborhoods. Traffic was gridlocked, the trains were late, buses were broken down. NY was an absolute disaster area.

    Every single one of these issues totally changed after Rudy started going to work, not a little bit but totally and by the way, my business and property taxes all went down 25% during his term. Rudy Giuliani is not a smooth political operator, he doesn't deliver great speeches, he doesn't motivate you, but he goes to work everyday and he has a very reasonable and pragmatic sensibility, while everyone else is spewing flowery bull-- around, Rudy will get results.

    January 11, 2008 01:18 pm at 1:18 pm |
  23. Mike Birmingham, AL

    What a joke!! How does he propose to pay down the 9 trillion dollar deficit hole that GWB has dug for us?

    This war ain't free – and if the neo-cons and the Republicans love it so much, they are going to have to accept that they are going to have to pay for it.

    January 11, 2008 01:19 pm at 1:19 pm |
  24. Tommy

    Joe,
    While your at it how about we I guess you might as well just add socialism to the pile because that is basically what your ideas amount to. Oh and I would suggest you read the Federalist Papers because you obviously have nary a clue on how the founding fathers intended taxation to go. They were completely opposed to a consumption tax because the people as a whole are responsible for taxes not just certain parts of the population or in your case just those who happen to have the most.They meant for taxation like everything else in this country to be uniform and currently taxation is anything but uniform (and that would include equal opportunity to get rich, not take someone elses money and redistribute it or in your case not tax those with less). If it was anything close to uniform everyone would be taxed the same across the board and then there would be no need for such a large IRS to sift through everything. They also never included for the government to be responsible for things like retirement and healthcare. This country was founded on personal accountability not on big brother taking care of you. That would be why it reads the "general welfare" in the Constiution and not something much more specific.

    I find it hilarious that people are ranting about him "buying" votes when that is typical Democrat territory and that quite frankly nobody can compete with them on since none of the Republican candidates are proposing baby bonds, free universal healthcare, free education, or anything else free targeted at a select group.

    January 11, 2008 01:20 pm at 1:20 pm |
  25. Ben

    Every time a republican promise a tax cut. It means tax cut for the rich. The man is not talking about the midle class.

    January 11, 2008 01:21 pm at 1:21 pm |
1 2 3 4 5