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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

9 Answers

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  • 6 years ago

    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.

  • 6 years ago

    There is no tax credit for me being gay. That sucks.

  • ?
    Lv 7
    6 years ago

    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

  • Julian
    Lv 6
    6 years ago

    Anything involving the elimination of the IRS I'm cool with.

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  • 6 years ago

    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!

  • ZILLA
    Lv 7
    6 years ago

    The flaw that's glaring to me is the first 50 grand for a family of four not being taxed; it should be higher IMHO. Who the hell can raise a family of four on 50 grand a year?

  • Anonymous
    6 years ago

    Why do you need an EIT if the first 50K is free.

    Drop that and I agree.

  • Anonymous
    6 years ago

    Rand Paul is selling out on the Iran deal

  • Anonymous
    6 years ago

    My bet is working people would pay more to make up for the big tax cuts the super wealthy would get

    I'll pass

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