Posted on 05/15/2015 6:57:51 PM PDT by 2ndDivisionVet
ATHENS, Ga. — Presidential candidate Ted Cruz said Friday that he will release in the coming weeks details of his promised "simple, flat tax" to replace existing graduated income tax rates.
But the Texas senator told the Associated Press that he's still not decided on key details, such as whether a flat tax would also replace payroll taxes and taxes on investment income....
(Excerpt) Read more at wokv.com ...
This the 114th Congress. If Ted Cruz is elected President, he will be working with a newly seated 115th Congress which may very well go along with his plan for a Flat Tax.
During the midterm elections of 2018, there will be a new Congress seated, the 116th Congress and in 2020 there will be the 117th Congress and so on.
Now you say:
> “10% pure, 100% flat tax for everyone.”
and:
> “No deductions, credits, or loopholes.”
What’s to stop a future Congress from amending the 10% rate to 7% - 10% - 14% with an exemption for senior citizens on social security only?
You don’t need to argue that you don’t believe it will happen. But what PREVENTS future Congresses from doing it?
The FairTax calls for repeal of the 16th and will ‘sunset’ itself if the 16th is not repealed within 7 years.
From day one of the enactment of the FairTax, the focus will be on repealing the 16th.
However in the meantime, the entire Income Tax Code is scrapped and is replaced with the FairTax code, and the IRS is abolished.
So you have it correct. The 16th is the cancer cell that will allow growth and metastasis until a future generation inherits what we have today.
The ‘Flat Tax’ is a baby income tax and the 16th allows it to grow and mature into a malignant monster.
A FLAT TAX NEVER STAYS FLAT.
“A FLAT TAX NEVER STAYS FLAT.”
Never has! Never will!
FairTax rate will not be as easily changed, because, unlike the income tax withholding, FairTax is paid at every retail transaction.
EVERY consumer will be vigilant against sneaky midnight votes in the Congress to raise the rate, and will, IMHO, raise Holy Hell if their Congresscritter tries to raise the rate.
Not only will every consumer be reminded everyday of their tax burden but ....
BUT ....
Every year, EVERY YEAR Congress must VOTE on the NRST rate, the rate that consumers pay for that year.
Do you see what that does?
It means there will be constant pressure on Congress to lower the rate. And what does this mean?
It means there will be downward pressure on spending so that Congress members can please their constituents by lowering the NRST rate.
It’s hands down a brilliant system because it checks, balances and governs itself, as long as we have the Rule of Law.
I thought I knew the FairTax legislation.
Thank you for that information!
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