As Mitt Romney, John McCain and Mike Huckabee trade jabs on the campaign trail, one Republican is avoiding the mudslinging to stay focused on policy. Rudy Giuliani today unveiled an outstanding tax reform plan that won widespread praise among conservatives, notably Americans for Tax Reform and the Club for Growth.

Giuliani’s plan is so ambitious that it would be the biggest tax cut in American history if all of its components were enacted. Here’s what it would do:

• Extend the 2001 and 2003 tax cuts immediately
• Eliminate the Death Tax completely
• Lower the capital gains and dividends tax rate to 10% and index capital gains to inflation
• Lower the corporate tax rate from 35% to 25%
• Permanently index the Alternative Minimum Tax to inflation with a plan for eventual elimination

Matt Lewis has more details on Townhall and appeared on Fox News to discuss it. Giuliani adviser Steve Forbes called the plan “the most significant move to tax simplification in 20 years,” and Giuliani himself sold the idea to Neil Cavuto in an interview this afternoon, telling the Fox News anchor that taxpayers could choose to file on one page.

While other candidates can talk a good game on tax reform, Giuliani has put together a plan that will be hard to beat. And unlike Mike Huckabee’s fairy tale FairTax, Giuliani’s ideas actually stand a chance of being enacted.