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Ted Cruz Wants To Raise Taxes On Your Grandma
Fortune.com ^ | February 2, 2016 | Chris "The Thrill" Matthews

Posted on 02/08/2016 7:00:17 PM PST by kiryandil

**snip**

...Ted Cruz has endorsed policies that would fundamentally change who pays the federal government’s bills, and how.

Expect the establishment wing of the Republican Party to increasingly draw attention to this fact, especially when it comes to his tax policy. While on the one hand Cruz’s plan hews to Republican orthodoxy in its large tax cuts for the wealthy, he also embraces a European-style Value Added Tax, which is a lot like a sales tax, as replacement for all payroll taxes, and which would enable the elimination of all income tax outside a 10% flat tax for all earners...

**snip**

...The downside to this is that his plan is both very regressive - shifting the burden of paying for the federal government onto the middle and lower classes during a time when only wealthy Americans are seeing economic gains - and that it places particular pressure on older Americans living off of social security.

As my colleague Shawn Tully points out, the Cruz plan would increase the price of the things we buy everyday by a lot. Cruz would argue that this would be more than offset by his tax plan’s increase in take-home pay. But what about people who no longer earn wages, like retired folks living off social security? They worked their whole life paying income taxes, and if Cruz’s plan is enacted, will have the rules of the game change on them when they can afford it least. Their entitlement payments won’t go up, but the price of everything they buy will.

Since older Americans vote in greater numbers than any other demographic group, and senior citizens are now one of the Republican Party’s most reliable voting blocks, expect Republican hopefuls to increasingly attack Cruz on this point in New Hampshire this week and beyond.

(Excerpt) Read more at fortune.com ...


TOPICS: Front Page News; News/Current Events; Politics/Elections
KEYWORDS: chrismatthews; cruz; fearmongering; gettedcruz; losecruz; socialsecurity; taxes
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To: taxcontrol

>>We dont have a tax COLLECTION problem, we have a SPENDING problem.

Bingo. The pigs in the bureaucratic farm house don’t care how the sheets on the beds get laundered — as long as they’re the ones sleeping in them.

A flat tax will destroy retirement savings and accelerate the demise of the elderly competition who might put actually think they’re entitled to all those Socialist “security” dollars they’ve paid into the Ponzi scheme while WORKING.


141 posted on 02/08/2016 9:40:58 PM PST by HLPhat (Preventing Global Cooling one tank full at a time!)
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To: kiryandil

>>Their entitlement payments won’t go up, but the price of everything they buy will.

But then that’s “Kinder and Gentler” than...

“Leave your clothes here. Glasses please? FACE THE DOOR!”

[Chekist 1992 Russian film Eng-Subs (full)]
http://www.youtube.com/watch?v=_RQVSHfuPCQ

Isn’t it?


142 posted on 02/08/2016 9:43:30 PM PST by HLPhat (Preventing Global Cooling one tank full at a time!)
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To: kiryandil
Chris Matthews says: ...shifting the burden of paying for the federal government onto the middle and lower classes...

This is left-wing balderdash from Chris Matthews. As Chris actually points out, Cruz would lower taxes across the board: Personal income tax rates go down to 10% and the payroll tax is gone.

Business would pay something akin to a sales tax, but this business tax would replace the larger corporate income tax. Just as the corporate income tax is now passed on to the customer, the new business tax would also be passed on to the customer — but it's smaller. So Grandma comes out ahead. (Not to mention that she probably cares that her children and grandchildren will be doing much better.)

So yes, Chris's Grandma would end up paying for the new business tax when she buys things, but she ends up paying for the corporate tax when she buys things today. And the new business tax is lower than the existing corporate tax.

Combine that with a commitment to reducing government spending and living within our means, and you have the makings of an economic revival.

143 posted on 02/08/2016 11:21:35 PM PST by Persephone Kore
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Comment #144 Removed by Moderator

To: bolobaby

That’s pretty harsh. Sorry you can’t handle a difference of opinion. Save the ad hominem attacks for the progressives, not fellow conservatives.


145 posted on 02/09/2016 1:25:53 AM PST by Prince of Space (Be Breitbart, baby. LIFB.)
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To: kiryandil

My grandma is long gone.


146 posted on 02/09/2016 2:11:26 AM PST by Brown Deer (Pray for 0bama. Psalm 109:8)
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To: kiryandil

Bookmarked


147 posted on 02/09/2016 2:43:05 AM PST by Mr Apple ( GOOGLE: JEFFREY EPSTEIN & BILL 'TWITCHIN' FINGERS CLINTON)
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To: kiryandil

Does anyone even use this “so and so candidate is going to kill your grandma” anymore? When’s the last time that laughable scars tactic actually worked? Fortune magazine has been in the tank for the Democrat party for decades now. Pathetic.


148 posted on 02/09/2016 4:01:50 AM PST by SmokingJoe
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To: kiryandil

149 posted on 02/09/2016 5:06:04 AM PST by kinsman redeemer (The real enemy seeks to devour what is good.)
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To: Nifster

Yep VAT is the ultimate in indirect taxation. HUGE mistake on Cruz’s part


150 posted on 02/09/2016 6:31:09 AM PST by MNJohnnie ( Tyranny, like Hell, is not easily conquered)
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To: WENDLE

his is spin from our communist left. I assure you this is a propaganda lie.
***********************
Yep. I’ve never heard Cruz propose a VAT. He has proposed a flat tax. ....Dems lying again!


151 posted on 02/09/2016 6:46:44 AM PST by octex
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To: Luke21
But there are people here who hate Cruz so much they would post drivel from one of the press’ most craven idiots. I'm surprised more people aren't getting zotted these days.

Agree with the hate part. Not sure about the zotted part.

People here can be so unfair, yet they can't see it.

152 posted on 02/09/2016 6:59:30 AM PST by rdb3 (You know, I've never seen a U-Hall truck following a hearse. . .)
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To: kiryandil

It won’t make prices go up. The business tax REPLACES the corporate income tax and payroll tax. It creates enormous savings in tax preparation by simplifying things. And it is NOT a European-style VAT.


153 posted on 02/09/2016 7:03:34 AM PST by JediJones (Marco Rubio: When the Establishment Says Jump, He Asks How High?)
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To: Leto

Thanks for posting the listing of things Cruz proposes to eliminate or reduce.

Missing are the EPA and several others that don’t come to mind right now. ....I’ve been awake 27 hours and have to crash soon. Not ill, just have body clock problems lately.


154 posted on 02/09/2016 7:03:49 AM PST by octex
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To: Georgia Girl 2

Trump’s plan is the status quo, leaving the giant IRS bureaucracy and making it a costly nightmare to comply with. Trump retains the progressive rates which are nothing but a socialist, class warfare tool.


155 posted on 02/09/2016 7:06:46 AM PST by JediJones (Marco Rubio: When the Establishment Says Jump, He Asks How High?)
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To: kiryandil

He’ll tax the pennies on their eyes too


156 posted on 02/09/2016 7:06:56 AM PST by shotgun
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To: MNJohnnie

It’s not a VAT, it’s essentially a stream-lining of the corporate income tax.


157 posted on 02/09/2016 7:09:55 AM PST by JediJones (Marco Rubio: When the Establishment Says Jump, He Asks How High?)
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To: blueplum

There is a personal exemption of 9k per person, 10% thereafter along its an exemption for savings for retirement like 401k and Roth more generous IIRC.


158 posted on 02/09/2016 7:18:00 AM PST by Leto
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To: JediJones

Everybody is going to leave the IRS in place including Cruz because there is no will in the US Congress to get rid of it. Its easy to be against something that you know will not change. If Cruz really thought he could get rid of the IRS he would just go for a sales tax and be done with it.

Trump has accepted it and is lowering tax rates on individuals and on business. He is not trying to sneak a VAT in on small business.


159 posted on 02/09/2016 7:23:44 AM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: Lagmeister

That is his actual plan. the hidden VAT tax
******************************************
Why don’t you post the proof of that so we can all see what you’re talking about?


160 posted on 02/09/2016 7:29:15 AM PST by octex
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