MIAMI (CBS4) – When CBS4 Anchor Eliott Rodriguez sat down with Newt Gingrich, he was ready to talk about a lot more than Cuba policy and immigration. The former House speaker also took on a traditional GOP issue: taxes.
The day after Mitt Romney released his tax returns showing he paid a 14-percent rate, Rodriguez asked Gingrich if his proposal to lower the capital gains tax would result in him paying zero income tax was correct, as stated by Romney.
“What I’ve said is, I have a proposal for a flat tax at 15 percent,” said Gingrich. “So I want every American to have an opportunity to pay Mitt Romney’s rate by choosing a 15 percent flat tax.”
Then he turned a dig at Romney into a jab at President Barack Obama.
“The Obama reaction is to want to raise Romney’s rate. My reaction is to want to lower everyone else’s rate,” said Gingrich.
He went on to blast a proposal the president made in his State of the Union address, to raise the tax rate on anyone making a million dollars to 30-percent.
“If he meant his 30 percent tax rate proposal, it is catastrophic. That would double the capital gains tax,” predicted Gingrich. ”My hunch is, he didn’t understand his own statement. It would crash the stock market. It would weaken every pension fund in the country. It would reduce the value of every 401K.”