Posted on 11/10/2015 1:05:03 PM PST by JSDude1
Good, now lets move on.
At each stage of manufacture, a VAT is added to the product. WHY? Because each piece adds "value".
Do payroll taxes "ADD VALUE"?
NO, they don't !
True, but the folks objecting don’t realize that the tax consumers would be paying in the Cruz plan is half the current rate we are paying under our current tax code.
Yes, we are currently paying 38% corporate tax and Cruz is proposing 16% business tax to replace it. I agree,the minimum wage issue is an inflation driver for sure.
NO, the tax is after business costs are deducted. Also,business investments can be deducted all in one tear, instead of being spread out over several years.
The tax that Cruz is proposing on businesses is closer to a Fair Tax than anything else I’ve seen. Cruz is extremely pro small business. His tax plan is being misunderstood by some.
The tax that Cruz is proposing on businesses is closer to a Fair Tax than anything else I’ve seen. Cruz is extremely pro small business. His tax plan is being misunderstood by some.
Instead of personal income taxes have family funds.
Everyone in the family chips in 10% of their income via the IRS.
The people putting in get to vote on the outgoes according to their contributions.
Your money can’t go to yourself, a person making over $50,000/year or make a person have an income over $50,000/year.
This would replace Social Security disability, welfare, SNAP, etc.
The Buffett/Gates/etc. family excesses would fund government operations.
Basically you could transfer shares from your 10% to any relative(s) within three steps except yourself, your spouse and your children living with you.
My very old and poor uncle and my disabled sister-in-law would be considered two steps away.
Perhaps:
1. cut corporate tax rate to 15%
2. tax all capital gains (except of a sale of your home for a period of over one year) as ordinary income
The AICPA lobby ALONE would kill all of these plans.
Plenty more behind them.>>>>
yes there would be millions of unemployed CPAs and accountants. It is the only real tax reform tho. i wish it could be implemented t would cause a booming economy
The bills WILL be paid; one way or another!
And he talked about ELIMINATING five federal departments. That’s leadership.
Let the Democrats defend these useless agencies.
-— How is Cruz’s plan being construed as a VAT when he portrays it as flattening existing corporate taxes? -—
It’s not formally a VAT, but since corporations largely pass taxes on to consumers, it’s effectively a VAT.
You nailed it.
Our income tax system is one of the stupidest systems ever devised by man.
The only way you could have a worse tax system is to have an income tax system plus a VAT tax.
Which is what the Cruz and Paul tax proposals amount to.
No thanks!
Repeal the 16th Amendment. Repeal all current forms of federal taxation. Shut down the IRS. Implement a simple broadbased national retail sales. End of story. Liberty and prosperity restored.
Agreed
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