Ted Cruz's tax plan - flat rate

[jimnyc]

What sayeth everyone? What do you like or dislike about it?

-----

Summary

It’s time for the next American revolution; it’s time to reignite growth in our economy. And the best way to do that is through fundamental tax reform. Cruz’s Simple Flat Tax abolishes the IRS and replaces the byzantine tax code with a simple, fair tax. America’s economic strength has been smothered by years of Obama’s broken promises, and stifling mandates and taxes, such as those under Obamacare. A great stagnation has led to a lost workforce: Millions of Americans have given up trying to find work and acquire skills to improve their well-being. America needs a bold stroke of pro-growth tax policy to reignite the mighty U.S. economic engine. The Simple Flat Tax is a critical first step to restoring the promise of growth and prosperity in America.

Under the Simple Flat Tax, the current seven rates of personal income tax will collapse into a single low rate of 10 percent. For a family of four, the first $36,000 will be tax-free. The Child Tax Credit will remain in place, and the Simple Flat Tax Plan expands and modernizes the Earned Income Tax Credit with greater anti-fraud and pro-marriage reforms. As a result, the Simple Flat Tax will ensure that low- and middle-income Americans have greater opportunities – not only through minimal taxes, but also through better, high-paying jobs that the Simple Flat Tax will generate. Under the plan, deductions for charitable contributions and mortgage interest payments are preserved.

The IRS will cease to exist as we know it, there will be zero targeting of individuals based on their faith or political beliefs, and there will be no way for thousands of agents to manipulate the system.

For businesses, the corporate income tax will be eliminated. It will be replaced by a simple Business Flat Tax at a single 16 percent rate. The current payroll tax system will be abolished, while maintaining full funding for Social Security and Medicare.

The convoluted tax code will be replaced with new rules of the game – so simple, in fact, that individuals and families could file their taxes on a postcard or phone app. The Death Tax will be eliminated. The Alternative Minimum Tax will be eliminated. The tax on profits earned abroad will be eliminated. And of course, the Obamacare taxes will be eliminated. Also gone will be the unending loopholes in the current code, the stacks of depreciation schedules for businesses, and the multi-tiered rates on income and investments. Under the Simple Flat Tax, the Internet remains free from taxes.

The results will be truly dramatic. According to the well-respected Tax Foundation, the Simple Flat Tax will deliver an economic boost of tremendous magnitude. In the first decade, the Simple Flat Tax will:

Boost Gross Domestic Product by 13.9 percent above what is currently projected.
Increase wages by 12.2 percent.
Create 4,861,000 additional jobs.

In the tax-cutting spirit of Presidents Ronald Reagan and John F. Kennedy, the Simple Flat Tax will lift Americans out of the current economic stagnation and into an historic boom.

Rest here - https://www.tedcruz.org/tax_plan/

[indago]

For businesses, the corporate income tax will be eliminated.

The artificial person is the one taxed under the indirect taxing system laid out in the Constitution.


The IRS will cease to exist as we know it

There will always be a federal tax collecting service. It is written into the Constitution.

Government was never granted the power to lay a direct tax upon the inhabitants of the States.

[Gunny]

What sayeth everyone? What do you like or dislike about it?

-----

Summary

It’s time for the next American revolution; it’s time to reignite growth in our economy. And the best way to do that is through fundamental tax reform. Cruz’s Simple Flat Tax abolishes the IRS and replaces the byzantine tax code with a simple, fair tax. America’s economic strength has been smothered by years of Obama’s broken promises, and stifling mandates and taxes, such as those under Obamacare. A great stagnation has led to a lost workforce: Millions of Americans have given up trying to find work and acquire skills to improve their well-being. America needs a bold stroke of pro-growth tax policy to reignite the mighty U.S. economic engine. The Simple Flat Tax is a critical first step to restoring the promise of growth and prosperity in America.

Under the Simple Flat Tax, the current seven rates of personal income tax will collapse into a single low rate of 10 percent. For a family of four, the first $36,000 will be tax-free. The Child Tax Credit will remain in place, and the Simple Flat Tax Plan expands and modernizes the Earned Income Tax Credit with greater anti-fraud and pro-marriage reforms. As a result, the Simple Flat Tax will ensure that low- and middle-income Americans have greater opportunities – not only through minimal taxes, but also through better, high-paying jobs that the Simple Flat Tax will generate. Under the plan, deductions for charitable contributions and mortgage interest payments are preserved.

The IRS will cease to exist as we know it, there will be zero targeting of individuals based on their faith or political beliefs, and there will be no way for thousands of agents to manipulate the system.

For businesses, the corporate income tax will be eliminated. It will be replaced by a simple Business Flat Tax at a single 16 percent rate. The current payroll tax system will be abolished, while maintaining full funding for Social Security and Medicare.

The convoluted tax code will be replaced with new rules of the game – so simple, in fact, that individuals and families could file their taxes on a postcard or phone app. The Death Tax will be eliminated. The Alternative Minimum Tax will be eliminated. The tax on profits earned abroad will be eliminated. And of course, the Obamacare taxes will be eliminated. Also gone will be the unending loopholes in the current code, the stacks of depreciation schedules for businesses, and the multi-tiered rates on income and investments. Under the Simple Flat Tax, the Internet remains free from taxes.

The results will be truly dramatic. According to the well-respected Tax Foundation, the Simple Flat Tax will deliver an economic boost of tremendous magnitude. In the first decade, the Simple Flat Tax will:

Boost Gross Domestic Product by 13.9 percent above what is currently projected.
Increase wages by 12.2 percent.
Create 4,861,000 additional jobs.

In the tax-cutting spirit of Presidents Ronald Reagan and John F. Kennedy, the Simple Flat Tax will lift Americans out of the current economic stagnation and into an historic boom.

Rest here - https://www.tedcruz.org/tax_plan/

I agree with a flat tax. Just no breaks/shelters. We all pay the same. What I would probably disagree with is the percentage rate of said tax. If it's more than we already pay, it's too much. However, this one has to be stopped from the word go. A BIG start would be getting rid of some of these professional bureaucrats. Put term limits on Congress-peeps and NO retirement check. The absolute waste in DC is appalling and if you saw it like I was forced to (the Corps doesn't "ask" if you want to go) it would open some eyes.

I never got free coffee, free meals, free dry cleaning, a free apartment, wheels and 2 free trips home a year at taxpayer expense. When I did get so-called "free" meals and lodging you should see the crap served in the chow hall and live 3 to a 2 man room in the barracks. And that was Nirvana compared to being on float or in the field. These clowns do 5-star crap. I'm just surprised they let us lowly taxpaying servants use the front door at the Pentagon and Capitol.

[fj1200]

What sayeth everyone? What do you like or dislike about it?

Sounds good. It'll never be passed.

[Tyr-Ziu Saxnot]

What sayeth everyone? What do you like or dislike about it?

-----

Summary

It’s time for the next American revolution; it’s time to reignite growth in our economy. And the best way to do that is through fundamental tax reform. Cruz’s Simple Flat Tax abolishes the IRS and replaces the byzantine tax code with a simple, fair tax. America’s economic strength has been smothered by years of Obama’s broken promises, and stifling mandates and taxes, such as those under Obamacare. A great stagnation has led to a lost workforce: Millions of Americans have given up trying to find work and acquire skills to improve their well-being. America needs a bold stroke of pro-growth tax policy to reignite the mighty U.S. economic engine. The Simple Flat Tax is a critical first step to restoring the promise of growth and prosperity in America.

Under the Simple Flat Tax, the current seven rates of personal income tax will collapse into a single low rate of 10 percent. For a family of four, the first $36,000 will be tax-free. The Child Tax Credit will remain in place, and the Simple Flat Tax Plan expands and modernizes the Earned Income Tax Credit with greater anti-fraud and pro-marriage reforms. As a result, the Simple Flat Tax will ensure that low- and middle-income Americans have greater opportunities – not only through minimal taxes, but also through better, high-paying jobs that the Simple Flat Tax will generate. Under the plan, deductions for charitable contributions and mortgage interest payments are preserved.

The IRS will cease to exist as we know it, there will be zero targeting of individuals based on their faith or political beliefs, and there will be no way for thousands of agents to manipulate the system.

For businesses, the corporate income tax will be eliminated. It will be replaced by a simple Business Flat Tax at a single 16 percent rate. The current payroll tax system will be abolished, while maintaining full funding for Social Security and Medicare.

The convoluted tax code will be replaced with new rules of the game – so simple, in fact, that individuals and families could file their taxes on a postcard or phone app. The Death Tax will be eliminated. The Alternative Minimum Tax will be eliminated. The tax on profits earned abroad will be eliminated. And of course, the Obamacare taxes will be eliminated. Also gone will be the unending loopholes in the current code, the stacks of depreciation schedules for businesses, and the multi-tiered rates on income and investments. Under the Simple Flat Tax, the Internet remains free from taxes.

The results will be truly dramatic. According to the well-respected Tax Foundation, the Simple Flat Tax will deliver an economic boost of tremendous magnitude. In the first decade, the Simple Flat Tax will:

Boost Gross Domestic Product by 13.9 percent above what is currently projected.
Increase wages by 12.2 percent.
Create 4,861,000 additional jobs.

In the tax-cutting spirit of Presidents Ronald Reagan and John F. Kennedy, the Simple Flat Tax will lift Americans out of the current economic stagnation and into an historic boom.

Rest here - https://www.tedcruz.org/tax_plan/

Far too good to ever be passed ... Future stolen trillions are at stake, about 80% of which are to be stolen by the dem party politicians and their installed , sponsors/unions, bots, socialist allies, and asskissers!
IRS is a totally illegal gestapo, thus it 'll not ever be abolished without a revolution, IMHO. --Tyr

[Tyr-Ziu Saxnot]

Sounds good. It'll never be passed.

Damn!! fj finally got one right!
Agreeing with a conservative position for once.
I am guessing that is him living up to a new year's resolution to try to pretend to be more conservative!!
Did you ever notice how when he makes comments like that, he never follows up with actual detailed criticisms of the dems/ leftists??
Hey fj, how come you never follow up with specific criticizing details/insults aimed at the stinking dems, the few times you make statements like that?--Tyr

[fj1200]

Damn!! fj finally got one right!
Agreeing with a conservative position for once.
I am guessing that is him living up to a new year's resolution to try to pretend to be more conservative!!
Did you ever notice how when he makes comments like that, he never follows up with actual detailed criticisms of the dems/ leftists??
Hey fj, how come you never follow up with specific criticizing details/insults aimed at the stinking dems, the few times you make statements like that?--Tyr

Why are you so ignorant? Did you notice when I said I liked trump's tax plan? Of course you didn't; You ignore what you don't understand and proves you wrong. Carry on with your uneducated rants. :)

[Drummond]

Damn!! fj finally got one right!
Agreeing with a conservative position for once.
I am guessing that is him living up to a new year's resolution to try to pretend to be more conservative!!
Did you ever notice how when he makes comments like that, he never follows up with actual detailed criticisms of the dems/ leftists??
Hey fj, how come you never follow up with specific criticizing details/insults aimed at the stinking dems, the few times you make statements like that?--Tyr:clap::clap::clap::clap:

Totally agree.

FJ could also try INITIATING Conservative opinions ... if he's really inclined to try and be more convincing as one. Instead of just picking up on others' leads (.. when not just sniping, or indulging in pedantic, supposed 'deconstructions').

... But I won't hold my breath ... to initiate Conservative thought does involve having a mind actually thinking that way ....

[fj1200]

:clap::clap::clap::clap:

Totally agree.

FJ could also try INITIATING Conservative opinions ... if he's really inclined to try and be more convincing as one. Instead of just picking up on others' leads (.. when not just sniping, or indulging in pedantic, supposed 'deconstructions').

... But I won't hold my breath ... to initiate Conservative thought does involve having a mind actually thinking that way ....

Apparently you choose ignorance as well. It's a shame you're unable to engage in even the most basic of discussions.

[Drummond]

Apparently you choose ignorance as well. It's a shame you're unable to engage in even the most basic of discussions.

Care to take up a challenge ?

Try opening a thread, initiating an opinion, purely yours and not borrowed from elsewhere, which shows your thinking to be unquestionably Conservative in nature ... something you could've only thought or believed in if you'd been a diehard Conservative thinker and supporter.

Give it a go.

[fj1200]

Care to take up a challenge ?

Try opening a thread, initiating an opinion, purely yours and not borrowed from elsewhere, which shows your thinking to be unquestionably Conservative in nature ... something you could've only thought or believed in if you'd been a diehard Conservative thinker and supporter.

Give it a go.

If you're confused about my position on the flat tax then you're not very bright.