To me Rand Paul's tax plan is the best I have seen from a candidate, but I like Paul so my view is bias, do you see any flaws?
Some highlights: 2 trillion tax cut that would repeal the entire IRS tax code more than 70,000 pages replace it with a low, broad-based tax of 14.5 percent on individuals and businesses.
eliminates nearly every special-interest loophole.
eliminates the payroll tax on workers and several federal taxes outright.
The first $50,000 of income for a family of four would not be taxed. For low-income working families, the plan would retain the earned-income tax credit.
https://randpaul.com/issue/taxes
AMERICA IS DEAD2015-07-15T13:55:00Z
It would never pass, the corporations paying zero now, would not stand for it, even though it would be a huge tax cut for the billionaire class. The fact that it would cut revenue, and explode the debt and deficit, is just the icing on the guano cake. I suggest a different solution that would also throw out most of the 70k pages of tax code. Cut taxes in half for all incomes under $250k then eliminate all tax cuts, havens etc. Treat capital gains, inheritance, dividends and interest as income. Add a tax of 50¢ on every $100 of Wall Street transactions. We would generate more revenue, and be able to more easily eliminate the $18 trillion debt.
I will not support any plan that keeps the EITC intact Plus the $50,000 threshold is too high Make it first $25,000 tax free and elimination of EITC I'll endorse By the way you would still need an IRS to collect and track taxes, eliminating the IRS is stupid and impossible
Yes, the flaw is that some people are still getting money for having children they can't afford. And now it goes up, in effect to those making 50K who pay no taxes!