Explore Candidates → Rudy Giuliani on Taxes and Budget
Rudy Giuliani on Taxes and Budget
"I believe in supply-side tax policies. I believe in it because I saw it work, and I put a lot on the line in order to make it work... I reduced taxes 23 times. Nine or ten million dollars in tax reductions. One example: I reduced the rate of income tax by about 23% or 24%. The revenues from the income tax went up 40%. That's what we have to do. We've got to keep our tax rate low. We've got to find ways to make it lower. This is very much at stake in this election; every major Democratic candidate has promised to raise taxes anywhere between 20% and 25%. I guarantee you tax rates will remain low. We will not raise -- we will lower if we can -- each one of these tax rates. We will certainly keep them low, because I realize that that is how you stimulate an economy."
Speaking in Manchester, New Hampshire, Giuliani vowed to make permanent President Bush's tax reductions and find ways to cut them further
"I believe in supply-side tax policies. I believe in it because I saw it work, and I put a lot on the line in order to make it work... I reduced taxes 23 times. Nine or ten million dollars in tax reductions. One example: I reduced the rate of income tax by about 23% or 24%. The revenues from the income tax went up 40%. That's what we have to do. We've got to keep our tax rate low. We've got to find ways to make it lower. This is very much at stake in this election; every major Democratic candidate has promised to raise taxes anywhere between 20% and 25%. I guarantee you tax rates will remain low. We will not raise -- we will lower if we can -- each one of these tax rates. We will certainly keep them low, because I realize that that is how you stimulate an economy."
The economy begins to go in decline. I think we see an outsourcing of jobs. We see a loss of revenue. I think we see it before then. I think we start seeing it in 2008, 2009. I did a forum on taxes, and a guy who runs a medium-size business was saying he's already starting to hedge his bets against the idea of a major tax increase in 2010. I mean, how many businesses plan three, four, five years ahead
Interview in US News & World Report, "Homeowner Bailout" Aug 27, 2007
Q: Six of your colleagues on this stage have signed the pledge of the Americans for Tax Reform to oppose any increase in marginal tax rates. You say that you were a big tax-cutter in New York, but you did raise fees and fines and, in fact, you even went to court to fight elimination of the commuter tax. Why have you refused to sign? A: It's a matter of principle. I think if you're president, you take one pledge: to uphold the Constitution. It is my intention to lower taxes. I have without any doubt of all the people running for president the strongest record of lowering taxes. I did it 23 times in a city that never lowered a tax before. I made supply-side economics work in a city that didn't understand it. And I ended up having a very positive impact on the economy of the city as the result of that. But I only think a person running for president should take one pledge, and that is to uphold the Constitution of the United States.
2007 GOP debate at UNH, sponsored by Fox News Sep 5, 2007
Promised on campaign website to cut taxes if possible in all tax brackets
"Rudy Giuliani supports a large decrease in federal spending and a Balanced Budget Amendment to ensure responsible fiscal management."
Mr. Giuliani said that if elected president, he would like to change over to a flat tax, but acknowledged that may be impractical.
"We will [eliminate] the death tax."
Eliminate the death tax. That should be eliminated immediately. It makes no sense at all. In 2010, the death tax is going to go to zero percent. And then it's going to go to 55% in 2011. You do not want to be on a respirator in 2010. And then I would say the most sensible thing to do is to simplify the tax code, reduce taxes, keep taxes low.
2007 GOP Iowa Straw Poll debate Aug 5, 2007
Scored as supporting an elimination of estate taxes on FOX News
Tax plan calls for an end to marriage penalty
Republican presidential candidate Rudy Giuliani said Friday that the alternative minimum tax -- which is expected to generate as much as $1 trillion over the next 10 years -- could be eliminated over the long term by balancing it out with even more tax cuts.
We have to adjust the alternative minimum tax. That has to be reduced. We have to get rid of the death tax. It's going to go to zero in 2010. And then in 2011, it's going to go to 55%. And we have to make sure that the tax cuts that went into effect, that that level remains. Otherwise, we're going to have one of the biggest tax increases in history in 2011.
2007 GOP primary debate, at Reagan library, hosted by MSNBC May 3, 2007
Senator Edwards last week recommended increasing the capital gains tax from 15 percent to 28 percent because he wants more money. Now, Senator Edwards hasn't had much executive experience because the reality is the last time we raised the capital gains tax, from 20% to 28%, we lost $45 billion. There is a liberal Democratic assumption that if you raise taxes, you raise money. The way to do it sometimes is to reduce taxes and raise more money.
2007 GOP Iowa Straw Poll debate Aug 5, 2007