General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTed "Carnival" CRUZ "calls" for abolishing IRS; I "call" for abolishing his pay, pension, benefits
*************QUOTE*************
http://www.washingtonpost.com/blogs/post-politics/wp/2013/06/03/ted-cruz-abolish-the-irs/
[font size=5]Ted Cruz: Abolish the IRS[/font]
.... Mr. President, if your #1 priority is fixing the problem, lets abolish the #IRS and ensure it NEVER happens again! Senator Ted Cruz (@SenTedCruz) May 16, 2013
I think we ought to abolish the IRS and instead move to a simple flat tax where the average American can fill out taxes on postcard, he explained in a Fox News interview over the weekend. Put down how much you earn, put down a deduction for charitable contributions, home mortgage and how much you owe. It ought to be a simple one-page postcard, and take the agents, the bureaucracy out of Washington and limit the power of government.
Cruz proposed a flat tax during the 2012 election, but he said he would keep a standard deduction for lower-income earners, as well as deductions for mortgage interest and charitable donations.
Rep. Ron Paul (R-Tex.) has frequently called for the abolition of the IRS. He would go further than Cruz by also eliminating the income tax.
*************
ananda
(28,835 posts)Boy the Reeps are going after the IRS!
They must have something to hide and stash.
spanone
(135,791 posts)LuvNewcastle
(16,834 posts)"Carnival" Cruz
UTUSN
(70,645 posts)darkangel218
(13,985 posts)Grrrrrrrr!
wandy
(3,539 posts)Well FreedomWorks has one explanation....
http://www.freedomworks.org/issues/flat-tax
Alas, although Wikipedia isn't always right, I seem to have more faith in their explanation.
A capped flat tax is one in which income is taxed at a flat rate until a specified cap is reached. For example, in 2010, the United States Social Security and Medicare payroll tax assessed a flat rate of 7.65% on all income under $106,800 and only 1.45% above that level. Thus, someone earning $100,000 paid $6,200 (a rate of 6.2%) while someone earning $1,000,000 paid $21,122 (a rate of 1.45% on all income and 6.2% on first $106,800). This cap has the effect of turning a nominally flat tax into a regressive tax.
Theirs much more to it than that so.....
http://en.wikipedia.org/wiki/Flat_tax
Or for a shorter explanation.....
http://www.usnews.com/debate-club/is-a-flat-tax-a-good-idea
Do check the comments, or better still the commenters.