Pawlenty Plan: Deep Tax Cuts and a ‘Google Test’ - Washington Wire - WSJ

Pawlenty Plan: Deep Tax Cuts and a ‘Google Test’ - Washington Wire - WSJ: "Mr. Pawlenty wants to reduce the corporate tax rate from 35% to 15% and create just two tax brackets for individuals and families: a 10% rate on the first $50,000 of income for individuals – or $100,000 for married couples – and a 25% rate for all other income. In addition, he will call for the elimination of taxes on capital gains, dividends, interest income and inheritance.

One challenge for Mr. Pawlenty is to show that his plan would not explode a deficit that is expected to top $1.6 trillion, given that cutting rates so steeply could prompt a fall-off in tax revenues. The plan could expose Mr. Pawlenty to criticism from Democrats or even rivals for the Republican presidential nomination who have all made deficit-reduction a hallmark of the primary fight."