Individuals still have deductions, small businesses filing as individuals still have expenses to deduct, and businesses subject to the 16% flat tax still have to calculate income net of cost of goods sold.And don't forget you can do all that on a postcard. < /sarcasm>
BTW, the only business deductions are business to business purchases...Other than that it's a gross sales tax AKA VAT. Not even wages are deductible.
It would be a small business and jobs killer.
Imagine you have a business, you pay 16% tax on your gross sales, including profit. Then you file your individual return for the profit you earned and pay another 10% on the profit your business just paid 16% on. The sCruz IRS would have to hire more auditors just for that.
The sCruz tax is designed to have the eliminated corporate taxes paid for off the backs of small business.
If you don't think his big money business owners didn't have their slimey hands in that little tax scam, think again.
As an accountant I agree with you. I have not read any details of his tax plan for business, but I guess I should, because he seems like too smart a guy to propose that.
Wow - you must really dislike Cruz.
Question, what effective tax rates do businesses really pay? How do they negate the effects of them? If you said zip and by raising costs of products to make up for them, you may be closer to right than what the rest of your screed is.
BTW - Joe Public will be able to do his taxes on a postcard and nobody in the world, who actually thinks would think that, even businesses would be able to do their taxes on a postcard...
If you feel so strongly, then donate to a campaign that you think will achieve your goals (and don't forget FR) so you can say you did your part in trying to make things right as you see them - too many miss the big picture because they are concerned about their own personal situation - when that happens, nothing can ever get done to set things right because anything worth doing will have a negative impact on some folks, so selfishness among "conservatives" will also thwart conservatism....
Now for a short public service announcement to all on FR:
I prefer Cruz and my money goes to his campaign, hence the Cruz link. If you like someone else, donate to him/her (find your own link to do it) and if you use FR and don't donate, then please don't complain about the welfare leeches or those who have Obama Phones because, functionally, you are no different than any other FReeloader.....
GO CRUZ!! Keep it up Trump!!