Diana Furchtgott-Roth compares Mitt Romney's and Rick Santorum's tax plans:
Santorum would cut taxes across the board. The top individual rate would decline to 28 percent from 35 percent now. Small businesses owners who currently file as individuals would see their tax rates decline. Santorum would halve the corporate tax from 35 percent now to 17.5 percent, so firms would do better filing as corporations rather than as individuals.
Manufacturers would have a corporate tax rate of zero. Naturally, this would encourage companies of all stripes to describe themselves as manufacturers. ...
Santorum would end estate taxes and reduce the long-term capital gains tax (for holdings of more than a year) and dividends from 15 percent now to 12 percent. ...
Romney would not lower taxes to the same extent. He has not promised cuts in personal tax rates, as have Santorum, Perry, Huntsman, and Gingrich. Individuals, and small businesses filing as individuals, would still be subject to a maximum rate of 35 percent. ...
Romney would, however, lower the top corporate rate to 25 percent (compared with 17.5 percent for Santorum). The ten percentage point difference between top rates for individuals and corporations would encourage some business owners to file as corporations.
Romeny would eliminate capital gains taxes completely for those earning under $200,000 per year, but leave the top rate at 15 percent for others. And he would eliminate the estate tax.