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 ...
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Called facts and reality.
You are allergic to both.
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If you can read which is doubtful you will see that Cruz’s tax plan calls for business’s to be taxed on “Gross receipts” Gross receipts is the total revenue your business takes in. Not profits.
So then you get to deduct out most business expenses but you have to pay a 16% tax on profits as well as wages. Wages are not money that go to the owner it goes to the employees. So now the business owner is paying 16% on wages and then the owner and the employees get to pay another 10% later on those wages when they file their individual tax returns. Cruz is abolishing the payroll tax and then making the business owner start paying the equivalent of a payroll tax. How hard is that for you to understand?
Hey my place at 8:00PM for the Trump victory party tonight. :-)
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Theme song will be The Volga Boatman.
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Dead Corpse reads just fine.
You on the other hand seem to be on common core.
Your lies are insane.
I’m Thinking the theme to Rocky. :-)
I think it should have increased (very slightly) a few times in that time period. But the basic point is correct: this large group of people are treated unfairly because they are perceived as past their usefulness.
Read the AEI article. Just because he doesn’t call it VAT wins him no bonus points. A rose by any other name
Well don’t worry about it because even Congress has enough sense to never pass Teddy’s insane tax plan. LOL!
So can we count on you and Dead at the Trump victory party tonight? :-)
So, enough with the lies...
Cruz is for a FLAT tax.
In other news Trump won NH and its yuuuge! :-)
Not really. Read the AEI article before you continue to make yourself look silly
Yay. /sarc
When you have your, “Oh my God, we voted for Jesse Ventura Mark II” moment... I don’t want to hear you wining...
Teddy is learning the age old lesson that cheaters never win.
He didn’t...
Never mind. Just be careful when they start passing out the grape coolaid...
I don't care what an article says.
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