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Rand Paul Discusses His Flat Tax Policy

Rand Paul talked to Chris Wallace on "Fox News Sunday" about his tax policy. He stated "The thing is, income inequality is due to some people working harder and selling more things. If people voluntarily buy more of your stuff, you'll have more money." Paul proposes a "flat and fair tax," which would put a flat 14.5 percent tax on all types of income. An analysis by the Tax Foundation found that under the plan, households earning more than $1 million per year would see their after-tax incomes rise by 13 percent. Households earning between $50,000 and $75,000 per year, meanwhile, would see their after-tax income rise only by 3 percent.

Wallace asked "Doesn't your plan massively increase income inequality?" Paul responded "It's a fallacious notion to say, 'Oh, rich people get more money back in a tax cut.' If you cut taxes 10 percent, 10 percent of a million is more than 10 percent of a thousand dollars. So, obviously, people who pay more in taxes will get more back. We all end up working for people who are more successful than us, and that's a good thing, that more money will be back in the economy."

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