Paul Pitches Flat Tax, Immigration as Remedies for Detroit
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U.S. Senator Rand Paul, a potential presidential candidate who has said a bailout of Detroit would occur “over my dead body,” told a business crowd there that cutting taxes and luring immigrants would turn the city’s fortunes.
The 50-year-old Kentucky Republican wants federal legislation to create “economic freedom zones” in distressed cities like Detroit, which has filed the largest U.S. municipal bankruptcy. He said he would cut income taxes to a flat 5 percent in areas of the U.S. with unemployment more than 1.5 times higher than the national average. He would cut payroll taxes and eliminate capital-gains taxes.