Cruz vs. Trump: Comparing their Tax Proposals

By Justin Stakes

By Dr. Tracy C. Miller

Grove City, PA -(Ammoland.com)- As Donald Trump and Ted Cruz battle to become the Republican nominee for president, it is time to closely consider their policies.

Although both propose cutting taxes, the details of their plans are very different. Ted Cruz is proposing a drastic revision of the tax code that would replace the progressive income tax with a flat tax. Donald Trump’s proposal, though it would lower the top tax rate, preserves higher rates on the rich. In terms of sound principles that should guide discussions of future tax policy, Cruz’s proposal is better than Trump’s.

Cruz’s plan, which includes a 10-percent flat-tax rate on income and a value-added tax to replace the payroll tax, would reduce overall taxes paid by almost everyone. He proposes repealing the corporate-income tax, the payroll tax, estate taxes, and gift taxes and replacing those taxes with a 16-percent value-added tax. By altering incentives to work and save his plan could have a large positive effect on economic growth.

Trump’s plan would also lower tax rates for most …Read the Rest

Source:: AmmoLand