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Giuliani Blasts Hillary's Tax Increase Plan
Rudy Giuliani charged that fellow New Yorker and presidential hopeful Hillary Clinton’s plan to reverse President Bush’s tax cuts would amount to "an astounding, staggering tax increase” and would damage America’s economy.
Giuliani’s attack came after Clinton spoke in New Hampshire on Tuesday, grumbling about the return of "robber barons” and vowing to increase taxes on Americans making more than $200,000 a year.
Clinton said the tax increase would help balance the federal budget and provide health care for uninsured Americans, the New York Sun reported.
"This would be an astounding, staggering tax increase,” Giuliani told reporters during a campaign stop in California’s Silicon Valley on Wednesday. "She wants to go back to the 1990s . . . It would hurt our economy. It would hurt this area dramatically. That kind of tax increase would see a decline in your venture capital. It would see a decline in your ability to focus on new technology.”
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To make his point, Giuliani noted: "The way I paid for preparing the New York City budget was by lowering taxes. I was collecting billions of dollars more from the lower taxes than from the higher taxes. You can make money by lowering taxes.”
The former New York City mayor also was critical of another Democratic presidential hopeful, Barack Obama, saying the health care plan he recently outlined would be "socialized medicine” and would require tax increases.
© NewsMax 2007. All rights reserved.
Editor's note:
Read more on this subject in related Hot Topics:
2008 Presidential Race Inside Cover Stories
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