OK but that’s just energy.
Where is Cruz saying he’s for American manufacturing once again?
Where is Cruz saying he’s for America IT jobs once again?
Energy is just one tiny part of our economy. At the moment we are running the largest-ever (by far) trade deficit with China, in recorded history. 343 billion dollars, just last year, just with that one country.
And it’s going up, yet again this year.
Where is Cruz on American manufacturing? Where is Cruz on American jobs.
Energy is not American industry. It is one industry, but there are a whole lot of others which have been sent overseas.
A whole lot. Cruz needs to come out strongly for American jobs.
I haven’t seen that. I really haven’t.
Ted Cruz: "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."
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. ..."
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