Posted on 02/07/2016 1:57:15 AM PST by Cincinatus' Wife
[snip]
First, the Cruz plan would give America the lowest tax rates since the income tax was devised 100 years ago. For this reason, these plan are estimated by the Tax Foundation to grow the economy by a gigantic $2 trillion extra GDP per year after 10 years. That's exactly the opposite effect of the Hillary and Bernie show plans.
Second, Cruz's plan eliminates almost all deductions and credits-which is how they get the rate so low. The IRS could be dramatically shrunk in size. Don't forget, when there are fewer deductions,there are fewer ways to cheat on your taxes. The lower the tax rate, the less incentive to cheat, which means greater voluntary compliance.
Third, because the Cruz plan is "border adjustable," imports are taxed at the flat rate when they are brought into the U.S., but American products sold abroad are not taxed at all. This would level the global playing field for American manufacturers,tech firms,and drug companies and bring these jobs scampering back to the U.S. Blue collar union workers should love this.
Rubio and his allies are charging that the flat tax that imposes a low tax rate on the broadest possible business tax base, which includes wages and salaries and benefits will quickly rise from the teens to the twenties or even 30 percent. Even if that happened, it would still be lower than the Rubio tax rate of 35 percent.
In Europe the VAT has been an add-on tax to existing income and payroll taxes. The flat tax is a replacement for the corporate and payroll taxes. This is why liberals hate the Cruz flat tax. It will flatten liberal big government....
....The flat tax won't make America look like Europe, it will make American race past Europe and the rest of our competitors. That's conservative, pro-growth-and fair.
(Excerpt) Read more at spectator.org ...
So- you, Hillary, Huma and the rest, are ready to meet GOD
Good.
?
I like the way Cruz explains his plans in a calm and comprehensive manner. He’s my candidate.
Watch how Ted Cruz explains to an angry farmer, who eventually quiets down to listen, how he is going to help farmers.
All subsidies - across the board - oil, gas, wind, solar, ethanol are gone; EPA fuel blend, gone.
Death tax, gone.
Happy Iowan: How Cruz Crushed Ethanol [and helps farmers] - "Hot d*mn!" a gentleman shouted from the back of the room. Feb 3rd FR THREAD
“Second, Cruz’s plan eliminates almost all deductions and credits — which is how they get the rate so low. The IRS could be dramatically shrunk in size.”
Actually, Ted Cruz says that he is going to eliminate the IRS! How is he going to collect this money? He must have plans to keep the part that receives the returns and the money and call it something else. Perhaps he will call it the Personal Tax Agency (PTA). That way he can tell everyone that he eliminated the IRS and moved the PTA into all the old IRS buildings and computer centers.
I like Trumps, gives a working family a jump start.
I like the fact that Trump’s tax plan is scored with the highest deficit when applied to current spending. That means that Donald Trump plans to cut the size of the federal government more that any other candidate. There was a story that so many federal government workers have threatened to quit if Donald Trump is elected, that the budget is balanced his first year.
So many families are on the brink of collapse, i know of one that last year combined made less than $16,000, for the decade prior made between $40 to $65 thousand, its that bad.
The next two years will be tough for families in that lowest bracket to climb back up, especially paying back debt, Trumps plan gives them a running start. 0, zero taxation.
What, specifically, does he mean by “as we know it?” He can’t eliminate collection and refund disbursement activities. Is he going to eliminate all enforcement activities? Is he going to eliminate tax exempt organizations, so that we don’t need people to process their applications?
If you fill out your return on a postcard, or and iPhone app, then it must mean that all payments will be made electronically. Is Ted Cruz telling us that he wants to eliminate cash and checks?
Can you tell me how the agency that will administer Ted Cruz’s tax plan will differ from the IRS as we know it?
You cannot starve the federal government into submission.
It will not work. You either kill the program or it continues.
When you try to starve the federal government it just prints and borrows more money in your name. It just ends up being a tax on the future and those who have saved.
Over Obama’s term he’s spent 8 trillion dollars more than what the government took in. And that in spite of raising taxes substantially. It is as simple as that.
Isn’t trumps plan raising taxes on business and “the rich”?
Most of the tax plans up there simply won’t be approved by the Congress likely to be seated in 2017 after the election.
A rise of 12.2% over the next decade is an average increase of 1.1% per year. I think that's still income stagnation. Worse when inflation is factored in.
Or not.
Shame, shame, shame on Moore not disclosing that he advised on the two VAT tax proposals—which are the worst of the GOP plans because the Dems would double it with the traditional income tax, and easily jack it up just as the Euros did to wreck their own economies.
An insidious VAT on top of an income tax: one of the few ways you could make our tax system worse.
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