Posted on 02/17/2016 4:38:24 AM PST by raybbr
Republican presidential candidate Ted Cruz's plan to impose a flat 10 percent tax on all personal income and greatly lower the corporate tax rate would cost the federal government at least $8.6 trillion over a decade, according to a new analysis.
The plan would be the second most expensive tax proposal in the GOP presidential field, with only businessman Donald Trump offering a proposal that would add more in government debt over the next 10 years, according to data released Tuesday by the nonpartisan Urban Brookings Tax Policy Center. Trump's plan would cost the government $9.5 trillion in lost revenue.
Republican presidential candidates have been quick to campaign on promises to cut taxes, but because most have yet to detail how they would slash spending to offset this lost revenue, analysts have projected their proposals would be deficit busters.
Cruz's plan also falls short of fulfilling the Texas senator's promise that his flat tax system would be so simple that taxpayers would file their returns on a postcard.
Cruz would eliminate nearly every tax deduction except those for charitable contributions and mortgage interest and would increase the standard deduction to make doing your taxes easier. He would also eliminate all credits except the earned income tax credit for low-income workers and the child tax credit.
The streamlined system is the simplest plan released by any presidential candidate, but analysts said Cruz's proposals would still require most people to fill out more than a postcard.
(Excerpt) Read more at courant.com ...
No. Only about how much is costs the government. The government has a hand in every pocket and pocketbook but to this fully brainwashed writer ALL money belongs to the government. This writer should be ridiculed off of the media - along with everyone else who utters this absurd canard.
Look at your representatives. Do they want more of your money? Do they promise to "take things from you for the common good"? (Hilary Clinton) Why are so many people willing to support politicians that want to confiscate wealth and money from their friends, neighbors and relatives just to give it away to political cronies like public unions and companies like Solyndra? Have your morals fallen so low that someone like Sanders offering "free" stuff to be paid for by your fellow citizens draws you to him? Or, Clinton who's worth millions and still claims she's not wealthy?
The only people bearing the "cost" of government are the people who produce. They pay all the taxes. They are the dwindling 53% who still want to live a life better than their parents and whose parents worked hard to make that so. People struggling to live a life of liberty and freedom are now the enemy instead of looked at as something to strive for.
The rhetoric of this piece is part of the society that looks upon the victim as someone to be admired. Any victim - real or imaginary.
It’s libtard speak. Change the meaning of words, define the terminology and you’ve won have the (propaganda) battle. Sheeple go bbbaaaaaa bbbaaaaaa..
so what’s the problem. Cut spending by 860 billion a year.
betcha it can be done and we would be fine
In the MSM world, the only thing that “costs” the Government anything is tax cuts.
I say leave the current system in place and allow every taxpayer one year in 4 to pay absolutely no income taxes, which would be an across the board 25% reduction in taxes to tax payers only.
How easy is that?
I agree completely and I reject the assessments based on “cost the government”.
Whatever funding the government receives through taxation is supposed to cover only that which it needs to fulfill its minimum obligations to its citizens. All other brouhaha about “loss in revenue”, “cost the government” or whatever is just specious BS. The bloated beast needs to be put on a minimal subsistence diet until it loses all the ugly, wasted fat.
Obama is the one who added that extra 1 trillion dollar fat into our budget. Been going on ever since he was elected.
Taxing income inspires not working as much over the table.
Taxing products and services consumption without ANY exceptions gets income from the underground economy. Even drug dealers need food, gas, clothes, toilet paper. The more money you have, the more you spend, the more taxes you pay. Poor can’t buy yachts and that Rolls so they won’t be paying those rich-folks taxes.
Repeal the 16th amendment and replace it with a consumption tax that is a fixed rate in the amendment so only another amendment can change the rate. Make taxing income illegal in the same amendment.
It’s amazing how letting people keep more of the income they have worked for “costs” so much and is so “expensive”.
Time to throw a nuclear bomb inside the gummit.
Pray America wakes
..Cost the government...
Looks like it will have to learn how to cut and control spending. Otherwise, it’s government as usual that’s killing us.
They believe that ALL money belongs to the Gruberment. We are rightless serfs who are merely here to serve Killery and those who think as she does.
His immigration plan saves several hundred billion by itself. Then add in some other cuts and the goal is attained.
From the Hartford-Courant Newspaper in Connecticut...which is still trying to understand why GE departed for “greener pastures” in Massachusetts.
Nation of serfs.
Works for me.
Hmmm...lost revenue? Cry me a river. I say cut, and cut deep. Heck, eliminating the waste and fraud alone will equate to billions saved. But we can’t do that, can we?
:: a flat 10 percent tax on all personal income and greatly lower the corporate tax rate would ^^cost the federal government^^ at least $8.6 trillion over a decade ::
And THIS is bad because...?
Ultimately, the FedGov has pumped money into a “safety-net” that provides for citizens...
who’s ONLY contribution is their existence...
Woot, and, Hoo!
Declare a Tax holiday!
What will it “reveal”?
To coin a phrase from my youth...power to the people.
What these people refuse to concede is that Reagan had similar tax cuts that resulted in a tremendous increase in government tax receipts because of the improved economy the tax cuts brought about.
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