Senator Ted Cruz’s victory in Tuesday’s Wisconsin primary cements him as the clear, conservative alternative to Donald J. Trump. The Texas Republican trumped the New York real-estate mogul, 48 percent to 35. This landslide confirms Cruz, not Governor John Kasich (R., Ohio), as the life boat for GOP voters who wisely worry that the high-decibel tycoon’s juggernaut would sink beneath the waves next November — to the applause of women, Hispanics, immigrants, the disabled, and millions of others whom he has frosted.
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Cruz now should crank up the volume on campaign 2016’s best idea: a 10 percent flat tax that is perfectly timed as smart policy and smart politics.
Cruz’s Simple Flat Tax Plan would:
- Collapse today’s seven personal-income-tax rates into one: 10 percent.
- Offer taxpayers a $10,000 standard deduction and a $4,000 personal exemption.
- Keep the Child Tax Credit and expand the Earned Income Tax Credit.
- Exclude from tax the first $36,000 in income for a family of four.
- Dump thousands of tax loopholes, but save the charitable deduction and home-mortgage write-off up to $500,000 in principle value.
- Replace today’s corporate tax. As the Wall Street Journal crisply explains: “Businesses would deduct capital purchases immediately and pay a 16 percent rate without deducting wages.”
- Allow corporations to deploy domestically some $2.4 trillion in profits dormant overseas after paying a one-time, 10 percent repatriation tax.
- Create Universal Savings Accounts for up to $25,000 in tax-deferred, annual, heritable deposits.
Read the rest of this National Review op-ed HERE.
- Bury the Payroll Tax, Alternative Minimum Tax, Obamacare taxes, and the Death Tax.
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