Ted Cruz (Tax Reform)

Cruz's Tax Reform (section page)

Repeal Tax Code and Institute a "Flat Tax" Policy

• Wants to institute a "simple flat tax policy"
  • Up to 36,000 dollars in untaxed income for a family of four (TCWTR)
  • A flat 10% tax rate for all individuals exceeding the income cutoff (TCWTR)
  • An additional flat 16% "business tax" that effectively acts as a value-added tax (TCWTR)
  • Child Tax Credit and deductions for mortgage interest payments will remain in effect (TCWTR)
• "I am campaigning on a flat tax that would allow every American to fill out his or her taxes on a post card [or iPhone app] that allow us to abolish the IRS."(WE)
• Supports elimination of other taxes such as the Inheritance Tax, Overseas Profit Tax, Alternative Minimum Tax, and any "Obamacare" taxes (TCWTR)