THE SIMPLE FLAT TAX PLANIt’s time for the next American revolution; it’s time to reignite growth in our economy. And the best way to do that is through fundamental tax reform. Cruz's Simple Flat Tax abolishes the IRS and replaces the byzantine tax code with a simple, fair tax. America’s economic strength has been smothered by years of Obama's broken promises, and stifling mandates and taxes, such as those under Obamacare. A great stagnation has led to a lost workforce: Millions of Americans have given up trying to find work and acquire skills to improve their well-being. America needs a bold stroke of pro-growth tax policy to reignite the mighty U.S. economic engine. The Simple Flat Tax is a critical first step to restoring the promise of growth and prosperity in America.Under the Simple Flat Tax, the current seven rates of personal income tax will collapse into a single low rate of 10 percent. For a family of four, the first $36,000 will be tax-free. The Child Tax Credit will remain in place, and the Simple Flat Tax Plan expands and modernizes the Earned Income Tax Credit with greater anti-fraud and pro-marriage reforms. As a result, the Simple Flat Tax will ensure that low- and middle-income Americans have greater opportunities -- not only through minimal taxes, but also through better, high-paying jobs that the Simple Flat Tax will generate. Under the plan, deductions for charitable contributions and mortgage interest payments are preserved.Ted CruzTC_0f9ab760-bc86-11e5-a1cb-5d8e17d502d3U.S. Senator from Texas and candidate for President of the United States of America.... growth is reignited in our economy._0f9ab878-bc86-11e5-a1cb-5d8e17d502d3To fundamentally reform the tax code._0f9ab92c-bc86-11e5-a1cb-5d8e17d502d3GrowthMy number one priority in the Senate since day one has been economic growth, and the reason is simple. Economic growth is foundational to every other challenge we have, whether it is turning around unemployment or raising the stagnant median wages, whether it is finally tackling and turning around our debt and deficit so that we are no longer bankrupting our kids and grandkids, whether it is rebuilding our military to address the reality that the world has gotten to be a much more dangerous place, or whether it is reforming Social Security and Medicare to strengthen and preserve those vital bulwarks of our society. With growth, we can do all of that. Without growth, we can't do anything. If we’re going to turn this country around, we've got to get back to historic levels of growth 3-4-5-percent growth. Suddenly, the federal budget transforms, and it's worth noting why there’s a double whammy with growth. When you have booming growth, millions of people go off unemployment, go off disability, go off food stamps, so expenditures go down. But at the same time, those same millions of people that get jobs -- they begin paying in taxes. Revenues go up as they are providing for their own families. Their work is contributing not only to their wellbeing and self-sufficiency, but also to the good of society.EnterpriseGrowth doesn't come from government. It comes from individuals and enterprise. It comes from entrepreneurs risking capital to meet a need. Government is very effective at obstructing that creative process. If you look historically, every time we pursue out-of-control spending and taxes and regulations, the results have been stagnation and misery and malaise. And every time we pursue tax reform and regulatory reform, the result has been incredible economic growth.ReformThat was true in the 1920s under Calvin Coolidge. It was true in the 1960s under JFK. And it was true in the 1980s under Ronald Reagan. We need fundamental tax reform, and ideally we need to pass a simple flat tax, where every American can fill out his or her taxes on postcard.SimplicityPersonal Income TaxCollapse income-tax rates for individuals into a single, low rate: 10 percent._0f9abaa8-bc86-11e5-a1cb-5d8e17d502d31Personal Income Tax: 10 Percent -- The current seven-tiered income-tax rates for individuals will collapse into a single, low rate: 10 percent. The standard deduction will be $10,000. The personal exemption will be $4,000. For a family of four, the first $36,000 will be tax-free. The Child Tax Credit will remain in place, as will the Earned Income Tax Credit. Existing deductions for charitable contributions and mortgage interest payments are preserved._0f9abb52-bc86-11e5-a1cb-5d8e17d502d3Payroll TaxEliminate the Payroll Tax_0f9abbfc-bc86-11e5-a1cb-5d8e17d502d32Payroll Tax: Eliminated -- The Simple Flat Tax will eliminate the payroll tax, boosting jobs and wages for working Americans, while guaranteeing funding for Social Security and Medicare. The vast majority of Americans pay more in payroll taxes than in income taxes. Eliminating the payroll tax altogether will create an enormous incentive for job growth. The Simple Flat Tax is estimated to create an additional 4.86 million new jobs over 10 years, with wages rising by 12.2 percent over the same period -- stunning numbers that evidence the growth-producing power of these reforms._0f9abca6-bc86-11e5-a1cb-5d8e17d502d3Business TaxEliminate the Corporate Income Tax [in favor of a] Business Flat Tax at 16 Percent_0f9abd6e-bc86-11e5-a1cb-5d8e17d502d33CorporationsBusinessesCorporate Income Tax: Eliminated; Business Flat Tax: 16 Percent -- The corporate income tax -- the source of endless waste and fraud in our tax system -- will be eliminated. No longer will American businesses face the highest top tax rate, 35 percent, in the developed world. The trend of American companies and jobs moving off-shore will stop. Instead, all companies will pay a simple, low rate Business Flat Tax of 16 percent. The tax will be based on revenues minus expenses such as equipment, computers, and other business investments._0f9abe36-bc86-11e5-a1cb-5d8e17d502d3Universal Savings Accounts[Authorize] Americans to save $25,000 annually on a tax-deferred basis_0f9abf1c-bc86-11e5-a1cb-5d8e17d502d34AmericansUniversal Savings Accounts (USA) -- Universal Savings Accounts will create a new tool for Americans to achieve personal prosperity: $25,000 annually can be saved on a tax-deferred basis, and can be used for any purpose, allowing families to save and build for their future._0f9ac0a2-bc86-11e5-a1cb-5d8e17d502d3Death TaxEliminate the Death Tax_0f9ac156-bc86-11e5-a1cb-5d8e17d502d35Death Tax: Eliminated -- This unjust tax will be totally eliminated. Time and money wasted on an industry of lawyers and accountants to minimize taxes will be diverted to productive uses. Small family businesses and farms that would have been sold in order to pay the Death Tax will be spared and family businesses will stay in the family._0f9ac214-bc86-11e5-a1cb-5d8e17d502d3GrowthUnleash growth _0f9ac2be-bc86-11e5-a1cb-5d8e17d502d36Catalysts for Growth -- The Cruz Simple Flat Tax is a critical step for reigniting growth, but in addition to fundamental tax reform, the Cruz opportunity agenda will unleash growth through the following:Health CareRepeal every word of Obamacare and restore patient-centered health care with greater choice provided by a free market._0f9ac368-bc86-11e5-a1cb-5d8e17d502d36.1Regulatory ReliefEliminate regulations such as the Waters of the U.S. Rule that impose tremendous costs and stifle economic recovery._0f9ac458-bc86-11e5-a1cb-5d8e17d502d36.2Spending ControlTighten Washington’s belt, balance the budget, and pay down the deficit._0f9ac50c-bc86-11e5-a1cb-5d8e17d502d36.3Constitutional Government Restore Constitutional Government _0f9ac5c0-bc86-11e5-a1cb-5d8e17d502d36.4Prevent the lawless behavior that we have seen in the current Administration.TradeOpen markets to provide greater opportunity for businesses and more affordable goods and services for Americans._0f9ac692-bc86-11e5-a1cb-5d8e17d502d36.5Monetary PolicyReturn to a sound and stable dollar, a bulwark for economic stability._0f9ac750-bc86-11e5-a1cb-5d8e17d502d36.6EnergyUnleash the American Energy Renaissance for a new age of affordable and abundant domestic supplies of energy._0f9ac80e-bc86-11e5-a1cb-5d8e17d502d36.72016-01-16https://www.tedcruz.org/tax_plan/OwenAmburOwen.Ambur@verizon.net