He at the very least should have known basic Finance 101 and Econ 101. I just think he made a compromise with the Wall Street backers and trying to pull wool over ‘simple folks’, thanks to Fai Mao's excellent explanation.
Reading both viewpoints has really confused me on this Cruz ‘vat’ idea even after I wrote two vanities on it and encouraged feedback.
[I’ll post some info to ‘all’ after this. Would still like informed feedback.]
While I’m a Trump supporter, we should go back to only taxing consumption:
1. We get rid of the IRS.
2. Taxing businesses is also more efficient than trying to snoop into the income of every US resident.
3. LESS CORRUPTION.
Lobbying has a lot more trouble hiding in the woodwork because purchase prices are much simpler than calculating net profits.
4. Income tax is a damper on earning income. An economic drag. Changing to a consumption tax encourages saving money.
5. If done pragmatically, the poor can get better and more evenly distributed tax credits than ever to boot. No more social engineering.
~~~
The transition into this tax plan is what scares people. ‘Better the devil you know’, they think. If you go piecemeal, then you still have the income tax. If you go whole hog and leap from the plane, they wonder if the parachute was packed properly.
And unfortunately for Cruz, if FReepers are baffled by his plan, then he’s had a tough row to hoe on this issue.
That’s why Rubio went at him the way he did. Cruz failed to clarify his message.
[now for specific info posted to ‘all’]