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Pence raps Ramaswamy over inheritance tax idea

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August 30th, 2023 by Jim Field

Former Vice President Mike Pence says extending the Trump era tax cuts will be a priority if he’s elected president.

Pence, who has started a three day campaign swing through Iowa, says he’d like to lower the income tax rate for individuals and families — and make a strong move on the corporate tax rate.

The 2017 Tax Cuts and Jobs Act cut the corporate tax rate from 35 down to 21 percent. The plan also doubled the standard deduction and cut individual income tax rates. Pence is critical of a tax idea floated by another G-O-P candidate.

Ramaswamy — in his book “Nation of Victims” — has suggested the inheritance tax could be used to save the country’s meritocracy from sinking into autocracy — and would be a way of redistributing duty. Pence says he’ll oppose any effort by Ramaswamy or anyone else to raise inheritance taxes.

Ramaswamy has recently said he supports a 12 percent flat tax on income. On his campaign website, Ramaswamy says he mentioned the inheritance tax in the book he released last year as part of a calculation for fully eliminating the federal income tax.