Cruz's Simple Flat Tax Plan

[ScreamingEagle]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

 

[Weatherman2020]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

I like it if everyone is paying the same 10%.
Every American has a vested interest in America equally, so we should all pay.

 

[Eaglewings]

Cruz would have never brought this up if it wasn't for Trump, the same with vetting, or building a wall. I do not trust him at all.

 

[Dovahkiin]

Cruz's tax plan is a disaster, no matter how you look at it.
Ted Cruz's Naive VAT Plan Would Lead Federal Tax Rates To Soar

Cruz’s plan would increase wage taxes, prices, and the cost of living
Actually, there are several catches, ones that the Tax Foundation’s model doesn’t analyze. The first is that the change from a corporate income tax to a corporate value-added tax would lead to a significant increase in consumer prices and lower employment.
If the burden of national taxation is going to be transferred to businesses, then businesses will have to increase their prices to pass on the effects of that tax. In other words, while individuals might have higher wages, their cost of living will also go up significantly—possibly at a higher rate than wage growth.
If the cost of living goes up for the average American by more than his wages, then in his pocketbook, he’s actually lost money. This will hammer retirees, who have little to no individual income to benefit from Cruz’s lower individual tax rates, but would be hit by the plan’s higher consumer prices.
And remember that businesses would no longer be able to deduct the cost of labor. As my colleague Ryan Ellis has detailed, that amounts to a “16 percent wage tax withheld at the employer level under the Cruz plan.” Effectively, the Cruz plan replaces the traditional 15.3 percent payroll tax (half from the employee, half from the employer) with the new 16 percent VAT.

 

[NYcarbineer]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

That's Pie, and that rhymes with Sky and that stands for Lie.

 

[S.J.]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

We hear that every four years and it never happens. This is why the voters are fed up and want an outsider. Nobody seems to get that.

 

[Slade3200]

Curious... If he is proposing to impose a Tax and also to abolish the IRS, then who is going to collect the taxes? (Checks made out to the White House attn: Prez Cruz???) This whole thing sounds like a bunch of hot air with more holes than swiss cheese.

 

[S.J.]

Curious... If he is proposing to impose a Tax and also to abolish the IRS, then who is going to collect the taxes? (Checks made out to the White House attn: Prez Cruz???) This whole thing sounds like a bunch of hot air with more holes than swiss cheese.

That's right. The only way to abolish the IRS is to make retailers the tax collectors with a consumption tax that's paid at the point of purchase. Even then, you have to have a department that collects the money from the retailers. This isn't a serious claim.

 

[NYcarbineer]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

There's a line for itemized deductions on that plan. Simple? No IRA needed to oversee that?

Fuckinay. Stupid.

 

[Remodeling Maidiac]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

We hear that every four years and it never happens. This is why the voters are fed up and want an outsider. Nobody seems to get that.

The thing is an outsider doesn't have the ability to force congress to do anything anymore than an insider does.

 

[RandallFlagg]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

The idea of getting rid of 50,000 pages of tax code is wonderful. No one in their right mind can EVER hope to figure it out. That's the way those in the IRS keep their jobs. A flat tax would allow us to get rid of the VAST majority of those leeches who work for the IRS and make paying your taxes a simple 1 page process. I'm all for it. Thing is - if I'm not mistaken, nearly every republican candidate has (if not the same) a very similar plan. Good for them. It's high time to make this nonsense easier for us all.

 

[LoneLaugher]

4.9 million new jobs is peanuts.

 

[RandallFlagg]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

We hear that every four years and it never happens. This is why the voters are fed up and want an outsider. Nobody seems to get that.

You are correct. Every 4 years we hear both sides promising "pie-in-the-sky" crap. 99% of it never comes to fruition. Just like that senile old man Bernie Sanders promising to raise taxes on the rich to 90% - he's a damned fool. Hell, every rich person in the US would leave the country.

Still - for what's left of the middle class - a flat tax could only help.

 

[LoneLaugher]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

We hear that every four years and it never happens. This is why the voters are fed up and want an outsider. Nobody seems to get that.

You are correct. Every 4 years we hear both sides promising "pie-in-the-sky" crap. 99% of it never comes to fruition. Just like that senile old man Bernie Sanders promising to raise taxes on the rich to 90% - he's a damned fool. Hell, every rich person in the US would leave the country.

Still - for what's left of the middle class - a flat tax could only help.

How's about a link to Sanders' tax plan. Thanks.

 

[ScreamingEagle]

Anybody here prefer Trump's plan.....? i understand it would put us in the hole about a trillion a year....

"Trump's tax plan would reduce government revenue enormously, and the federal budget deficit would almost inevitably skyrocket.

Nonpartisan tax research group the Tax Foundation calculates that Trump's plan would cut taxes by $11.98 trillion over the course of a decade. It would lead to 11% growth in the GDP, 6.5% higher wages and 29% larger capital stock as well as 5.3 million jobs. However, it would also reduce tax revenues by $10.14 trillion, even when accounting for economic growth from increases in the supply of labor and capital."

Everyone's a winner under Donald Trump's tax plan

 

[g5000]

“Imagine 4.9 million new jobs. Instead of Obama’s income stagnation, imagine average wages rising 12.2 percent over the next decade. Capital investment rising 43.9 percent. And every income-level seeing double-digit increases in after-tax income. Imagine exports and manufacturing jobs booming. Our trade deficit falling as the tax bias against American made goods is eliminated. Imagine a 10 percent income tax, with every American filling out his or her taxes on a postcard or iPhone app. And abolishing the IRS as we know it.” – Ted Cruz

The Simple Flat Tax Plan | Cruz for President

There's a line for itemized deductions on that plan. Simple? No IRA needed to oversee that?

Fuckinay. Stupid.

Thank you. I was beginning to think I was the only one who noticed.

In order to itemize deductions, one needs another very long form.

In other words, Ted Cruz's tax return is no shorter than the current one, and is just as wide open to corruption.

 

[Timmy]

Why are there deductions? If you say it's "fair" , why are childless people being treated differently . That's not fair .

 

[g5000]

Basically, we today have a tax structure chock full of tax expenditures, and several tax rates which depend on your income.

With the current system, we have managed to run up an 18 trillion dollar debt, give or take.

With Ted Cruz's tax plan, you still have those tax expenditures (itemized deductions, plus tax credits), and a LOWER tax rate for everyone.

Gee, will that increase or decrease deficits?

D'oh!

 

[Timmy]

If you own you own biz . What's your income ?

 

[Timmy]

Basically, we have a tax structure chock full of tax expenditures, and several tax rates which depend on your income.

With the current system, we have managed to run up an 18 trillion dollar debt, give or take.

With Ted Cruz's tax plan, you still have those tax expenditures (itemized deductions, plus tax credits), and a LOWER tax rate for everyone.

Gee, will that increase or decrease deficits?

D'oh!

And don't forget how Cruz (and the others ) wants to increase military spending on top of that!