GOP tax plan would slash rates, simplify code


House Republicans called for a “fairer” and “flatter” tax code Friday, saying Americans should be split into fewer income brackets and file their returns on something as simple as a postcard.

Their tax proposal, the sixth and final piece of the GOP’s election-year agenda, would slash rates for individuals and corporations, streamline deductions for parents and clarify benefits tied to paying for college.

It would bolster incentives for charitable giving, decrease the tax burden on American-made products and reform the IRS.

“We want a tax code that works for taxpayers, not for tax collectors,” said Speaker Paul D. Ryan, Wisconsin Republican.

The GOP plan would lower the corporate tax rate from 35 percent to 20 percent and cap the individual rate at 33 percent, down from 39.6 percent. It also would repeal the estate tax — or “death tax” in GOP parlance — on the grounds it robs families of the nest egg that farmers and others have built for their heirs.

24 Comments - what are your thoughts?

  • justinwachin says:

    The IRS needs to be reformed. The liberal bureaucrats who are running the place need to be fired. Those who have discriminated against conservatives and conservative groups need to lose their pensions and gain a prison cell.

    I applaud the House Republicans for laying out a vision for the future. The House Democrats’ vision for the future is bigger government, higher taxes, more socialism, more chaos & turmoil, gun control, minimize the Constitution, double the national debt, double the government regulations and give permanent control to the Democrat Party.

  • skHurricane says:

    Funny they want to pass this now that Trump when becoming President is going to reduce taxes for the taxpayers. It is to make them look good to the voters traitors.

  • CharlieSeattle says:

    And the reason this was not done 2 years ago was??

  • chicken ufo says:

    where was Ryan 2 years ago .in fact what has Ryan done period. .Ryan is only the foot stool for Obama its time to impeach Ryan

  • Terry T says:

    Taxes should be a simple and fair method to pay for the cost of running the government. The first step is to quit using taxes as economic incentives!! That is what makes taxes complicated.

    For individuals, implement a flat tax with an individual exemption (i.e. 10% tax on income over $10,000). No deductions or credits.

    For businesses, tax cash flow. Subtract expenses from income and tax the difference. (20% is way too high, more like 10%). Again, no tax incentives!!! Stay away from the obscenely complicated accounting practices.

    1. CharlieSeattle says:

      Taxation methods and the amounts raised ignore the real problem while the deficit grows exponentially.

      >> Democrats always spend more than the taxes they increase when they are in power.

      >> Republicans always cuts taxes less than what they spend when they are in power.

      …………So what is the difference here? None.

      Congress has a spending problem NOT a revenue problem. Ops, I take the second part back. Tax revenues would be higher if NAFTA and China’s MFN trade status were never passed by Congress.

      That was about 8 million lost jobs ago. Passage of TPP will make it even worse!

      Both political parties have lied to the voters for 40 years and committed willful economic treason against the taxpayers that sent them in good faith to Washington to build a better America not destroy it.

      …………..Fight Organized Crime! Re-elect No One!

  • Vangie Martinez says:

    Ya right, now their trying to do something since they have People Voting for Trump. I’m not buying it. Another thing they ought to Scrap the IRS. They don’t answer the Phones and you then when you finally get someone, they tell you, Oh you have to call so and so I can’t help you, Oh you can’t help me? Why not? You have a Computer there to look up my case. I guess it’s not in their Job Description. I have been waiting since February 2016 for my $332.00 and had to fill out Paper work for Injured Spouse. I had to jump through hoops just to get things straightened out and I am still waiting for my Money. I went to my Congress Man, his Office told me you have to fill out Paper work and then it’s going to take another Month to investigate and then they will get back to me. It is absolutely Unacceptable and Ridiculous. Waste of Our Money. Not happy.

  • Cled B. Painter says:

    I am not worried about the IRS people being fired, I just don’t want them on the american tax payers back for the rest of their lives.
    Cled

    1. CharlieSeattle says:

      Pay your taxes + don’t cheat. = no problems.

  • Richard Hennessy says:

    We don’t need half measures like this. What we need is to eliminate the income tax entirely, get the IRS off our backs permanently, and replace the income tax with the “Fair Tax”. As long as the income tax is in place, the Congress will again tinker with it for the benefit of special interests or to compel certain actions (see mandatory Obamacare), and we will soon be back where we are today.

  • maxx says:

    Just more BS from Rino Ryan. He must be getting a lot of flack from the many people that now see him as the rino he is. If is looks like a rat and smells like a rat and acts like a rat it must be a Rino just like Ryan. He has done much damage to his political career in the past two months by his indecisiveness and lack of character. Maybe his “rising star” title will go away as well. Good riddance.

    1. CharlieSeattle says:

      This is still the wrong argument. Congress refuses to control spending.

  • obama says:

    The devil is in the details

  • Rodney Steward says:

    This is one of the plans that Cruz ran on for President, a flat tax and do away with the IRS for GOOD!

    1. Cled B. Painter says:

      I agree that we need total tax reform, but what will we do with the thousands of IRS agents? Can we fire them? I hope so but doubt it.
      Cled

      1. maxx says:

        They would all go on SSI disability just like all the people that could tot find employment after their 99 weeks ran out. There are tens of thousands of perfectly able bodied welfare recipients that now are on SSI. No wonder they are escalating the time table for SS to be bankrupt. It was never meant to be an actual government handout. People were supposed to pay in a lot longer than to collect it. And take a guess who these new beneficiaries are.

      2. Rodney Steward says:

        Send them to Kenya, most are black anyway, if they refuse to relocate, then fire them!

      3. Retired says:

        The Government did not care about working people loosing their jobs, so why worry about the IRS or any other Gov. jobs ?.

      4. used_to_be_a_liberal says:

        no, what we can do is send them to the middle east, then let them try to get “taxes” from the Muslims using the same sort of tactics that they have used on American citizens, and since these IRS Agents are so “liberal” we make sure that they are unarmed.

        1. Robert Briggs says:

          25June,2016
          I Vote Yes for sending IRS TO Syria & OTHER PLACES IN Mid East!
          MN1 Robert Briggs USN Retired in TN.

          1. used_to_be_a_liberal says:

            yup, that is a good place for them.

  • Marty says:

    So let’s [ass it and send it to HRH Obama for veto so he can show all his real colors of socialist.

  • Jim Lambert says:

    Sounds like a plan!

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