Rudy Giuliani Proposes `Biggest Tax Cut’ in U.S. History

Bloomberg, 1/10/8

Republican presidential candidate Rudy Giuliani proposed a tax overhaul plan that would reduce capital gains and corporate tax rates and allow many Americans to file a one-page return.

The plan would reduce the corporate tax rate to 25 percent and the capital-gains tax to 10 percent. The current corporate tax rate is 35 percent, and the capital-gains rate is 15 percent, set to rise to 20 percent in 2010 as President George W. Bush’s tax cuts expire.

If all of his proposals were enacted, “it would be the biggest tax cut in American history,” Giuliani said in an interview on Bloomberg Television.