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Cruz: "We should abolish the IRS"

Tuesday, February 16, 2016 - 00:44

Ahead of this weekend's South Carolina Republican primary, Republican presidential candidate Ted Cruz calls for fundamental tax reform and a 'flat tax' on Americans. Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) U.S. Republican presidential candidate Ted Cruz told voters in Anderson, South Carolina on Tuesday he would create a flat individual income tax and that among other changes, he would aim to do-away with the Internal Revenue Service, if elected to office. "I will go to Congress and we will pass fundamental tax reform. A simple, flat tax, where every American can fill our our taxes on a post card. And when we do that, we should abolish the IRS," Cruz told supporters. A tax plan proposed by Republican presidential candidate Ted Cruz would cut federal revenues by $8.6 trillion over 10 years, adding substantially to the debt, according to an analysis published on Tuesday by a nonpartisan research center. Other changes include repealing the corporate income tax, as well as payroll taxes for Social Security and Medicare, and estate and gift taxes; increasing the standard deduction and eliminating most other deductions except for mortgage interest and charity; and adding a broad-based 16 percent value-added consumption tax.

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Cruz: "We should abolish the IRS"

Tuesday, February 16, 2016 - 00:44