By: Jack Hunter
As The Wall Street Journal’s Stephen Moore explained on FOX Business to Judge Andrew Napolitano after Monday night’s debate:
Judge Napolitano: But the biggest sound bite of last night comes from another cowboy from Texas. Congressman Ron Paul, whos tax ideas outgunned his opponents.
Ron Paul: We should have the lowest tax that we’ve ever had, and up till 1913 it was 0%. What’s so bad about that?
Debate moderator: So you’re answer is 0?
Judge Napolitano: Zero! Joining me now to discuss abolishing the income tax is a man who’s no stranger to studying and analyzing taxes. He’s Stephen Moore, head of the editorial board of the Wall Street Journal.
Judge Napolitano: Can we take Congressman Paul seriously at his word? That were he to be nominated and elected President, he would move to reduce the income tax rates to zero, or as he says, gradually abolish the income tax, shrink the government down to its Constitutional size, and force it to go to other resources for cash.
Stephen Moore: This is a point Ron Paul made very effectively last night, which was for the first roughly 130 or 140 years of our nation we didn’t have an income tax, and yet we did have a prosperous country, we got richer every year, and so there’s no reason we can’t imagine what America would be like without an income tax.
Stephen Moore: As an economist, can you imagine America’s competitive position in the world if Ron Paul were able to get our income tax rate down to zero, when other countries have 30, 40, 50% rates… you would see the most insourcing of jobs into America in the history of the world.