Abolish the IRS, as We Know It

The Ted Cruz Flat Tax Plan will work for America.

Cruz’s plan would abolish the IRS as we know it and end the use of the tax code as a political weapon, with a simple tax code that is “transparent and resistant to corruption.”

The personal income tax rate would be 10% after a $ 10,000 standard deduction and a $ 4,000 personal exemption. Deductions for charitable contributions and mortgage interest payments are preserved.

The Payroll Tax would be eliminated.

The Corporate Income Tax would be replaced by a 16% Business Flat Tax. The tax would be based on revenues minus expenses such as equipment, computers and other business investments.

Death Tax: Eliminated.