Cruz tax plan
March 6, 2016 at 12:18 pm
(This post was last modified: March 6, 2016 at 12:18 pm by KUSA.)
(March 6, 2016 at 11:54 am)Tiberius Wrote: I don't see how a 10% flat tax on personal income, and a 16% flat tax on business income will solve any of the above, but mostly (3). It seems like the US government would be taking in much less in taxes under such a plan.
Perhaps the cost of the tax burden would offset it.
http://www.laffercenter.com/wp-content/u...lexity.pdf
Page 3
This study creates a comprehensive estimate of the total administrative costs, time costs, and direct tax compli- ance costs created by the complex U.S. federal income tax code. is paper deals only with Segments B, C, D and E from Figure ES 1. One can only imagine what the full burden of government on the well-being of society might be. In our analysis we estimate that U.S. taxpayers pay $431.1 billion annually, or 30 percent of total income taxes collected, just to comply with and administer the U.S. income tax system.* is cost estimate includes:• Approximately $31.5 billion in direct outlays (e.g. paying a professional tax preparer such as H&R Block or purchasing tax so ware) (2010 data).• TotalIRSadministrativecostsof$12.4billion(2010data).• e Taxpayer Advocacy Service of the IRS estimates that individuals and businesses also spent 6.1 billion hours complying with the ling requirements of the U.S. income tax code. We estimate the dollar value or cost of these hours to be $377.9 billion as of 2008. e 6.1 billion hours number was estimated by multiplying the number of copies of each form led in tax year 2008 by the average amount of time the IRS estimated it took to complete the form.• Individuals spent 3.16 billion hours complying with the income tax code, which weighted by time spent by income group, costs the U.S. economy $216.2 billion annually.• Businesses spent 2.94 billion complying with the business income tax code, which costs the U.S. econo- my $161.7 billion.• Comprehensive audits also impose an additional taxpayer burden of at least $9.3 billion annually.
Quote:2) Obamacare penalties should be abolished. Obamacare is good, but people shouldn't be forced to buy healthcare if they don't want it, or punished by the IRS if they don't have it.
It looks like the Obamacare benefits the insurance companies more than anything. It is not a single payer healthcare plan that was sold to the American people. It was Obama paying his rich pals in the insurance business.
