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. Connie, Tn.

    What an IDIOT. He is not even paying his staffers now. We've had 8 years of the "richer getting richer and the poor getting poorer".

    January 11, 2008 02:10 pm at 2:10 pm |
  2. Ken, Suitland MD

    Pretty laughable right? But there are millions of toothless morons who will be bought off by it.....and they are all in one party....and look where that's gotten us. He's trying sooo hard to be a tough right-winger, that he's eating charmin everytime a wingnut goes to the bathroom.

    And just WHAT is your point "Chris"? That the 90's weren't all that good afterall? That the republican baloney they are handing out is not all that much of a lie? You do YOUR homework, and then continue your list into the 2000's, and then tell us why the rate of increase has been soooo much more in the 2000's than in the 1990's. Are you trying to imply that because those numbers went up in the 90's that the budget deficits were not low, and even in the black? Why DID the debt continue to grow in those years (in the 90's) when the budget was in the black? If you have the answer, I'll be surprised. And certainly the wing-nuts don't....nor do they want to. They just want to pile on any mis-guided incomplete "facts" that people like you feed to them, so they can use it to justify the right-wing lies and dogma.

    Here's what I learned over the past 15 years. A truly moderate rebalancing of the tax scheme (to override the Reagan give-away to the rich) in the early 90's as put in place by a short-lived combination of a democratic administration and congress, followed by strong fiscal leadership by a democratic administration who masterfully kept at hands-length a thoroughly distracted Repub-nut Congress led by our old friend newt, led to the strongest economic showing this country has ever enjoyed.

    Now we can debate about whether or not the "rebalancing" of the early 90's was moderate. But as middle class person, I neither benefited significantly from Reagan's tax cut, nor did I suffer from Clinton's tax increase. And no matter how you want to label it, the effects of the Clinton tax increase to the rest of the economy speak for themselves....the economy BOOMED. Now these facts stand in stark contrast AGAINST the brainless wing-nut tax and economic dogma spewed out by their talking heads. They love to tell you that you are really not in pain, after they cut your leg off. And certain people actually fall for it, and they will fall for it again with the current brood of [R] monkey candidates.

    Over the last 28 years repubs have consistently trashed our economy, and dems have consistently improved it. And there is a primary policy cause for this difference in results: dems have consistently dealt with and improved the deficit problem; the repubs have consistently exacerbated it.

    January 11, 2008 02:14 pm at 2:14 pm |
  3. Holla!

    How about we just sell America to the Chinese and Arabs and say screw it. Or better yet, I know, you'll love this. I can get rid of the debt in one swoop. America declares Chapter 11-BANKRUPTCY and were back at ZERO! Yeah!

    January 11, 2008 02:16 pm at 2:16 pm |
  4. lagosboy

    Rudy, has absolutely nothing to run on except 9/11. What about 9/12? Giuliani can’t win in a million years, what a joke!

    January 11, 2008 02:26 pm at 2:26 pm |
  5. jose'

    This cracks me up.

    All these people bashing Republicans for wanting to lower taxes.

    Geesh you people are sheep.

    Keep supporting the democrat establishment of expanding government programs and higher taxes, and see what that gets us.

    January 11, 2008 02:34 pm at 2:34 pm |
  6. Corbett

    Lets not forget, Bush already took a trillion dollars out of our Government in 2000, before 9/11 and before Katrina. There are only some many Trillions Rudy. We're gonna need at least a couple to get through the next 4 years!

    January 11, 2008 02:35 pm at 2:35 pm |
  7. OJC, Phoenix, AZ

    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."

    Can some explain to me how running the federal government is easier than running New York City? I realize that New York is God's gift to the planet and all (intense sarcasm), but this statement is just ridiculous. Much like Rudy's plan to put the dollar on par with Zimbabwe's currency

    January 11, 2008 02:52 pm at 2:52 pm |
  8. Tim Welter

    Anyone who asks how do we pay for tax cuts does not understand economics or history. History tells us that any time there is a tax cut, it stimulates the economy and thus tremendously increases revenue. The ONLY problem with the scenario is that as soon as the revenue shows up in Washington the Congress finds a new half assed program to spend it on and that program remains through eternity whether it is needed or not.

    January 11, 2008 03:01 pm at 3:01 pm |
  9. Jams O'Donnel

    Tommy – The Founding Fathers were against a consumption tax (or 'fair tax', which Joe was not advocating) because it would screw the poor and middle class.
    Say I make 50k a year and spend 10k on food and clothing (which is taxed). A guy who makes 50 million is not going to buy 10 million worth of food and clothing! I would then be taxed at a rate (as a percentage of my income) thousands of times higher than the millionaire!!!

    January 11, 2008 03:02 pm at 3:02 pm |
  10. TK

    I think we have a 0% tax rate up to the poverty line, and a flat tax rate beyond that. I would set a very high estate tax rate for anything over a reasonable amount of money, so billionaires cannot pass the wealth to their undeserving children while the rest of America suffers. This massive influx of cash would allow the flat tax rate on the middle and upper classes to be much lower than any of the rates currently charged these groups and help pay back the national debt.

    January 11, 2008 03:07 pm at 3:07 pm |
  11. Mary

    The only reason Rudy's camp came out with this ad is because they've noticed the polls showing that the economy is now the number one concern of U.S. citizens–not the war/terrorism. So much for his banking on 9/11...

    January 11, 2008 03:19 pm at 3:19 pm |
  12. David

    Anyone who believes in cutting taxes is anything other than cutting government spending should not be allowed to have a credit card. All the spending has to be paid one way or another either through debt or now. Rudy if you have a plan to cut spending tell me where you plan to cut or please stop blowing sunshine up my you know what.

    January 11, 2008 03:20 pm at 3:20 pm |
  13. Ian of Canada

    Hey Rudy,

    Where are you going to get money to make up from the Trillions of Dollars in taxes? Oh wait, isn't the govenment in debt already....


    January 11, 2008 03:25 pm at 3:25 pm |
  14. Jimmy Crackhorn

    Whaddaya know....theys a startin to sound more and more like RON FACKING PAUL...Don't drink this man's Kool-Aid – he's a fraud...live free by voting for the real McCoy......

    Giuliani is a tool of the party....

    January 11, 2008 03:25 pm at 3:25 pm |
  15. Jimmy Crackhorn

    This man is delusional...Rudy "Snickers" Giuliani is a walking talking paradox of a two faced canine barking at a moon he'll watch China walk on before he'll ever be President...

    He laughs at Ron Paul and then immitates him in his platform because Paul is robbing him of his place in the polls...oh and RP has tons of money bombs lined up....

    Ron Paul will use the Bully Pulpit to push for the following;

    1.) Reduce personal income taxes – or repeal the personal income tax altogether.
    2.) Reduce the size and scope of the DOD's overseas presence lowering annual costs for taxpayors.
    3.) Reducing subsidies to foreign governments.
    4.) Reducing subsidies to US corporations
    5.) Reducing the cost and size of the Federal Governmentand shifting costs to their rightful place – the State and Local governments.
    6.) Repealing drug laws for what is and has alweays been readily available to anyone who wanted them, in s[pite of hundreds of billions spent on the so-called drug-war and the prison industrial complex.
    7.) Getting our federal fiscal house in order.
    8.) Addressing healthcare issues through congressional efforts.

    Ron Paul is the Real McCoy – Giuliani is not ther right stuff...

    January 11, 2008 03:34 pm at 3:34 pm |
  16. Lee, California

    Rudy, Did I get that right...reduce taxes when our government has to borrow money
    from China and Russia to continue it's operation? I'm sure it will get you elected
    by minus-IQ supporters who can't see beyond next weekend. Maybe you should
    concern yourself with the future, when our children will (eventually) have to face the debt that "W" has managed to dig us into. Frankly, it may be time to trash our
    two party political system and find a "benevolent dictator" to run the country (with
    the option of deposing him/her when their approval rating gets as low as "W's").
    I'm looking for a copy of Lou Dobbs book...he may be one of the few sane people
    commenting on the actual condition of this country.

    January 11, 2008 03:43 pm at 3:43 pm |
  17. seth, minneapolis

    Giuliani's First Year as President

    1. Expand the war in Iraq
    2. Borrow money from China
    3. Invade Iran
    4. Borrow more money from China, destroying the US dollar
    5. Give out bazillions of worthless dollars in tax cuts woohooo!!
    6. Sell Hawaii to China

    January 11, 2008 03:45 pm at 3:45 pm |
  18. Brad, Stockton, CA

    If Rudy or any candidate had the ability to do this while at the same time to pulling the US out of the United nations, throwing the United Nations out of New York, stopping ALL foreign aid and weapons sales, putting the money back into building America and American citizens, and stop running Spanish ads in Florida while making English-speaking a cornerstone of his campaign, I still don't think I would consider him a viable candidate.

    Short of that, Rudy may as well stay in Florida, retire and start a 911 fan club, since 911 seems to be the single moment in history that he is fixated on. ANYONE who is capable of building a campaign on one iconic moment is doesn't have a campaign.

    Rudy Guiliani, you are pathetic, you are in the same class as Hillary and Bill Clinton.

    P.S. Rudy... please consider cutting the Spanish ads and using the savings to pay your paid staff for January.

    January 11, 2008 03:53 pm at 3:53 pm |
  19. Elise, Florida

    Ron Paul is the dumist person I ever heard of. He shouldn't even be on the podium for president. Everyone laughs at him.

    Anyway, Guillian will cut taxes. He did it for New York and he will do it for the country. He has my vote!!!!

    January 11, 2008 03:55 pm at 3:55 pm |
  20. Brad, Stockton, CA

    Seth from Minneapolis – you forgot a couple of items:

    1. Expand the war in Iraq
    2. Borrow money from China
    3. Invade Iran
    4. Borrow more money from China, destroying the US dollar
    5. Give out bazillions of worthless dollars in tax cuts woohooo!!
    6. Sell Hawaii to China
    7. Give out bazillions more of worthless dollars in expanded foreign aid
    8. Sell Alaska to China
    9. Sell American citizens to China to use as cheap domestic labor in China
    10. Import more non-citizens to fill the void created by having sold American citizens to China

    January 11, 2008 04:01 pm at 4:01 pm |
  21. Jordan, Seattle WA

    Guiliani should change his tax plan to this:

    Cut the income tax to 9%.

    Institute a national 11% sales tax.

    It's the 9/11 tax plan!

    January 11, 2008 04:04 pm at 4:04 pm |
  22. Scott Austin, TX

    My vote is not for sale.

    January 11, 2008 04:05 pm at 4:05 pm |
  23. Steven

    1. I remember Bush 41's tax pledge it doomed his re-election
    2. With all these pledges it is so easy to forget that the 535 member Congress always have an awful lot to say and do about taxes. All the candidates can do is declare they will fight for one thing or another, they cannot really promise anything because they have Congress to deal with!

    January 11, 2008 04:13 pm at 4:13 pm |
  24. Shannon Shiflett

    Republicans, make up your mind, would you? Do you want unnecessary, criminal wars that cost us 10-12 billion a month OR do you want tax cuts? You can't have both.

    January 11, 2008 04:46 pm at 4:46 pm |
  25. Seth

    When I become president, I will extend recess one hour.

    January 11, 2008 04:53 pm at 4:53 pm |
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