>>Their entitlement payments wonât 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?
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.
My grandma is long gone.
Bookmarked
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.
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.
He’ll tax the pennies on their eyes too
Problem for Cruz is we have heard this spin before. Instead of getting what we are promised we get the current code PLUS the additions.
That is why candidates should suggest adding anything to the tax system like a VAT. We will get the VAT, and a temporary roll back of other taxes but eventually we will go back to the existing system PLUS the add ons.