OK so Cruz is proposing an individual flat tax of 10% which is great, but then he’s proposing something for a business tax. (BTW, ANY business tax is no good because in fact there is no such thing - it is a hidden tax to the individual via forced higher prices to the consumer because of the resulting higher costs of doing business.)
Nevertheless, Cruz, and everyone else as far as I know, is proposing some kind of so-called “business tax. But what exactly is Cruz proposing for a business tax?
A broad-based, 16 percent Business Transfer Tax or value-added tax. This tax is levied on all business profits, less capital investment. This would include the payroll of business, government, and non-profit institutions, as well as net imports. A business transfer tax is also often known as a subtraction-method value-added tax.
It really smacks small businesses.