GREENSBORO, N.C. — Republican presidential hopeful Rudy Giuliani on Monday criticized the “fair tax” plan that has been touted by rival candidate Mike Huckabee, saying it could hurt homebuyers.
The former New York City mayor cited the struggling U.S. housing market as a reason to avoid the plan, which would eliminate all taxes on income and investment in favor of a hefty federal sales tax. The “fair tax” plan also calls for getting rid of the Internal Revenue Service and giving low-income taxpayers a monthly rebate on taxes.
“I think there are several tax deductions that are vital to our economy,” Giuliani told a questioner. “This would not be a good time — I don’t know if there would ever be a good time to do this — to advocate ending the home-mortgage deduction.”
Still, Giuliani said he wants to simplify the tax code.
The Associated Press
