O'Reilly Agrees with Rand Paul: 'America Needs a Flat Tax'
In his Talking Points Memo tonight, Bill O'Reilly agreed with Kentucky Sen. Rand Paul's calls for a flat tax.
O'Reilly explained that the 2016 Republican presidential hopeful's tax plan would mandate a 14.5 percent income tax rate for all individuals and businesses.
He added that Paul would do away with most personal deductions, in addition to throwing out the payroll tax.
"Sen. Paul's flat tax proposal is friendly to the American worker," O'Reilly said, noting that the Tax Foundation said the plan would increase the country's gross domestic product by about 10 percent and create 1.4 million new jobs over ten years.
O'Reilly explained that since the federal government would take in about $1 trillion less in revenue over those ten years, Paul has said he would make up the shortfall with spending cuts.
O'Reilly asserted, however, that Paul's numbers don't add up. "The Factor" host said a flat tax is possible, but it would have to be around 19 percent.
Despite that, O'Reilly said, Paul's proposal separates him from most of the other presidential candidates, because he is actually putting forth something concrete.
"The next presidential election will be won by the person who can convince most voters that he or she will help their financial security," O'Reilly said. "Talking Points believes America needs a flat tax. The question: Will the folks rally around it?"
Watch the Talking Points Memo in the video above.