Cruz tax plan

[Wyrd of Gawd]

What do you think of the Cruz tax plan?
https://www.tedcruz.org/tax_plan_summary/


I do not support Cruz and am not interested in general opinion of him. I am simply interested in opinions of his tax plan. What do you think are the pros and cons?

It's a scam.  Since there's no limit on Item 6, Savings Plan Contributions, rich people could dump an unlimited amount of money into such plans and whittle down their gross taxable income to almost nothing.  It also exempts income earned aboard.

Theodore Roosevelt said in his State of the Union message on December 7, 1907 that the country needed a stiff inheritance tax.

"There is no reason why in the United States the National Government should not impose inheritance taxes in addition to those imposed by the States, and when we last had an inheritance tax about one-half of the States levied such taxes concurrently with the National Government, making a combined maximum rate, in some cases as high as 25 per cent. The French law has one feature which is to be heartily commended. The progressive principle is so applied that each higher rate is imposed only on the excess above the amount subject to the next lower rate; so that each increase of rate will apply only to a certain amount above a certain maximum. The tax should if possible be made to bear more heavily upon those residing without the country than within it. A heavy progressive tax upon a very large fortune is in no way such a tax upon thrift or industry as a like would be on a small fortune. No advantage comes either to the country as a whole or to the individuals inheriting the money by permitting the transmission in their entirety of the enormous fortunes which would be affected by such a tax; and as an incident to its function of revenue raising, such a tax would help to preserve a measurable equality of opportunity for the people of the generations growing to manhood. We have not the slightest sympathy with that socialistic idea which would try to put laziness, thriftlessness and inefficiency on a par with industry, thrift and efficiency; which would strive to break up not merely private property, but what is far more important, the home, the chief prop upon which our whole civilization stands. Such a theory, if ever adopted, would mean the ruin of the entire country--a ruin which would bear heaviest upon the weakest, upon those least able to shift for themselves. But proposals for legislation such as this herein advocated are directly opposed to this class of socialistic theories. Our aim is to recognize what Lincoln pointed out: The fact that there are some respects in which men are obviously not equal; but also to insist that there should be an equality of self-respect and of mutual respect, an equality of rights before the law, and at least an approximate equality in the conditions under which each man obtains the chance to show the stuff that is in him when compared to his fellows."
http://www.presidency.ucsb.edu/ws/index....e+tax&st1=

Where does the dummy think the money will come from to fund his war machine?  Guns and bombs are expensive.  Where will the money come from to rebuild and maintain the country's infrastructure?  Our roads and bridges are terrible.  Where will he get the money to give to Israel, which he loves more than he does America since he isn't an American?  He needs to stop listening to that foreign agent Norquist.

When a rich guy starts talking about reforming the tax system he's actually talking about a way the wealthy can avoid paying their fair share of taxes to support the country that enabled them to become wealthy.  Besides, America already has one of the lowest tax rates in the world.  How can the country ever be great if it only spends a nickel on itself?