By wplog

Published Friday, Dec. 14, 2007 | 8:02 p.m.

Updated Thursday, Oct. 30, 2008 | 2:14 p.m.

(Tancredo dropped out of the presidential race for the Republican nomination on Dec. 20, 2007. See a video of his explanation on his campaign Web site.)

Under the current tax system, Tancredo believes that every American pays too much, and is punished for productivity. He is in favor of eliminating both the IRS and the income tax and moving toward a flat tax which imposes a single tax rate on income regardless of the income amount, or the fair tax system that would impose a national sales tax. Tancredo argues that either the flat tax or fair tax would ensure that Americans didn't have to continue paying taxes after they paid the government in April. Moving toward a fair tax system would simultaneously eliminate the marriage penalty and the alternative minimum tax (AMT). Tancredo has signed the pledge not to raise taxes and supports making Bush's 2001 and 2003 tax cuts permanent. Tancredo suggests that only thorugh the fundamental restructuring of Social Security and Medicare can federal spending ever be fully controlled.

Tancredo's campaign Web site: Read more about Tancredo's thoughts about replacing the income tax with a flat tax or a national sales tax.YouTube Video: Tancredo discusses tax cuts and more in an FRCA interview.

YouTube Video: Tancredo speaks at a FairTax rally in South Carolina.MSNBC Video: Tancredo takes an oath not to increase taxes and discusses the root of tax reform.

— Las Vegas Sun new media intern Jenna Kohler compiled this report.