ABC News’ Jan Simmonds Reports: An energetic and enthusiastic Rudy Giuliani campaigned in Florida on Wednesday, unveiling what his campaign is calling the “largest tax cut in the history of America,” and beginning his push to win what is becoming a something of a do or die primary set for January 29th in Florida.
After an hour delay and relocation of his speech due to a unspecified bomb threat, the former New York City Mayor walked into an airport hangar at the Melbourne International Airport where outlined the details of his plan before the press and about 50 supporters.
"Really what its ultimately all about, its about making this country a country in which we have prosperity for everyone, where people can dream their biggest dreams, where we reward success, where we don’t penalize success, and where we continue to be the leader of the world as a entrepreneurial country,” Giuliani explained.
The tax cut plan, which has multiple parts to it, begins by making the current Bush tax cuts, set to expire in 2010, permanent. Giuliani then vows to expand on President Bush’s efforts by also seeking to reduce the current six tax brackets to three. Those revised brackets would include a 10 percent tax on income up to $40,000, a 15 percent tax on income between $40,000 and $150,000, and all income over $150,000 would be taxed 30 percent.
In addition, he also would seek to reinstate the Research and Development Tax Credit, cut the corporate tax rate from 35 to 25 percent, and cut the capital gains tax from 15 to 10 percent.
As he has stated several times over the past months on the trail, the Giuliani Tax Cut Plan would include his promise to give the “death tax the death penalty.”
With a beaming Steve Forbes, a champion of the flat tax, at his side, Giuliani also unveiled his proposal to simplify the tax code.
If elected president, Giuliani vows introduce what he is calling the “Fair and Simple Tax (FAST) form”. The FAST form would allow taxpayers the option of filling out a single page tax form.
The document, which has only ten lines to fill out, would ask for taxation depending on your tax bracket as described above and allow for major deductions on mortgage interest, charity, state & local taxes, the child tax credit, the personal exemption and the Giuliani’s health care exclusion proposal.
Giuliani promised that anyone would be able to fill out this form but that it also would not be required.
"I believe in giving Americans choices, giving them options,” Giuliani said. “After all it’s your money, its your choice. This form will save you a great deal of time and in most cases it will save you money."
According to Giuliani’s math, a family of four in Florida with a household income of $80,000 would save $2,207 on their federal taxes, a 24 percent decline.
Thursday Rudy Giuliani will take a one day trip outside of Florida to attend a FOX News Debate in South Carolina. But before departing the State at an evening rally in West Palm Beach with his wife Judith, at his side Giuliani urged the crowd for their support in these final 20 days before votes are cast in Florida.
"We got 20 days in which to do this, we got 20 days together to make sure that Florida counts.Florida is going to be important," Giuliani rallied his supporters.
"The democrats have boycotted Florida, so we get the next 20 days to win the primary, to have that become the springboard to winning the nomination, and then we will have laid the groundwork for what has to be done if you want to be President of the United States, you got to win Florida."