Tuesday, November 10, 2015

Cruz Has A Modest Suggestion

Ted Cruz sets out his vision for what he'd like to do should he get elected.
During my first year as president, I will fight to abolish the IRS, the Department of Education, the Department of Energy, the Department of Commerce, and the Department of Housing and Urban Development. To do that, I will press Congress relentlessly.
This sounds like a good start. He also suggests a flat 10% income tax on all income over $36,000 and cut the corporate tax rate to 16%. This is very close to what the Irish did shortly after joining the EU which led to them becoming the haven of choice for anyone with one Euro to rub against another. The howls of anguish from Paris were truly heartwarming.

The big drawback I saw was that he wanted to somehow "strengthen and preserve" Social Security. The correct approach is to phase it out over 20 or 30 years and replace it with a privatized system as was done in Chile.

The article makes for interesting reading so give it a look.

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