THOMPSON: Yep. Yep. It's maintaining the tax cuts that we had in 2001, 2003. It's eliminating the death penalty. It's reducing the corporate tax rate.
We have the second-highest corporate tax rate among our competing partners. It's hurting us competitively. We're probably losing revenue from it.
We have several other provisions in it, but another major one is an adoption, basically, of the approach that the House Republican study group has that would give taxpayers an option of continuing to file the way they do now or filing under a flatter plan where you only have two rates, but no exemptions past the personal exemption and no deductions.
So give that a try. And it would be a major move toward tax reform, which I think is greatly needed.
I believe fox is trying to attack Fred Thompson to hide their own republican base. Fred Thompson is a moderate republican and deserves more than he receives.
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