A Few More Notes from the AFP Summit

By October 5, 2007Taxation

Fred Thompson spoke to the small-government, lower-taxes crowd at the Americans for Prosperity Defending the American Dream Summit and argued for smaller government and lower taxes.

WASHINGTON — Fred Thompson called for an extension of President Bush’s tax cuts and a large reduction in the corporate tax rate at a speech today to a conservative group.

Speaking at the Americans for Prosperity Foundation convention, the Republican candidate for president also called for an overhaul of the tax code and addressing the impending crisis that will result from Medicare and Social Security benefit payments that outstrip the taxes being paid by workers.

“We are locked into a mandatory spending cycle that is going to bankrupt the country,” Thompson said.

The actor and former Tennessee senator called for reducing the corporate tax rate from its current 34 percent average to at least 28 percent.

Meanwhile, Dave Weigel of Reason considers the Ron Paul phenomenon. Good quote: “I think if Ayn Rand was watching Ron Paul right now,” said Anthony Baumann, 18, “she’d give him a thumb’s up.”

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