The Tax Policy Center provides an analysis of Rick Santorum’s tax plan, which they say will “very likely add trillions of dollars to the federal deficit” while slashing direct government spending on programs aimed at assisting families. Here’s some of the analysis:
The Tax Policy Center has not yet formally modeled the former Pennsylvania senator’s tax platform. However, because it cuts rates significantly but does not eliminate tax preferences—and even expands a few—it would very likely add trillions of dollars to the federal deficit. Looked at from that prism, it is not so different from the ideas raised by most of his GOP rivals.
Like other Republican tax planks, Santorum’s would benefit corporations and high-income individuals. No surprise there. But unlike his rivals, he’d also cut taxes for many families with children.
Santorum is no bleeding heart, however. Even as he’d cut their taxes, he’d shred direct government spending for programs aimed at assisting these same households. As part of his plan to cut federal spending by $5 trillion over five years, he’d immediately slash many domestic programs to 2008 levels, and freeze for five years spending for social programs such as Medicaid, housing subsidies, food stamps, education, and job training.