TED CRUZ Turn 7 bracket tax system into a 10% flat tax and which expected to do the following:
Boost GDP by 13.9% above what is currently projected
Increase wages by 12.2%
Create 4,861,000 additional jobs.
https://www.tedcruz.org/issues/jobs-and-opportunity/A family of 4 will pay no taxes on their first $36,000 of income
The plan exempts a large amount of initial income for low- and middle-income taxpayers, with a $10,000 standard deduction and $4,000 personal exemption
Enables Americans to save up to $25,000 annually tax-deferred in the Universal Savings Accounts (USA)
Capital investment would rise by 43.9%
The following taxes would be eliminated in the Cruz Simple Flat Tax:
Death Tax.
Overseas profits tax.
The Alternative Minimum Tax.
The Obamacare taxes.
https://www.tedcruz.org/tax_plan_summary/JOHN KASICH Work with Congress to pass a resolution amending the Constitution to require a balanced budget and submit it to the states for ratification. If Congress refuses, he'll work with the states to call a constitutional convention to craft an amendment that could be submitted to the states for ratification
1 year moratorium on all major, new regulations will give businesses a respite from the costs of Obama Administration regulations and allow time to overhaul the regulatory process
Call on Congress to make cost-benefit analyses mandatory for all new regulations to make sure their benefit outweighs their costs
John Kasich will approve the Keystone XL pipeline
https://www.johnkasich.com/resultsnow/Eliminate federal estate(death) tax
Reduce the number of income tax brackets from 7 to 3 and reduce the top rate from 39.6% to 28%(which is the same rate it was when Ronald Reagon was President)
http://www.cnn.com/2015/10/15/politics/john-kasich-budget-plan/Balnce budget by 2025
Increase the Earned Income Tax Credit by 10%
Double the R&E tax credit for small businesses
Kasich's tax reform plan intends to raise $1 trillion of revenue through 2025
http://crfb.org/blogs/kasich-releases-plan-get-balanceReduce capital gains and dividends tax from 23.8% to 15%
Lower corporate tax rate from 35% to 25%
https://www.atr.org/atr-analysis-john-kasich-tax-plan
DONALD TRUMPThe Trump plan phases out the tax exemption on life insurance interest for high-income earners
A one-time deemed repatriation of corporate cash held overseas at a significantly discounted 10% tax rate
Eliminate the death tax
The Trump plan eliminates the income tax for over 73 million households. 42 million households that currently file complex forms to determine they don’t owe any income taxes will now file a 1 page which will save them an average of $110 in preparation costs
Over 31 million households get the same simplification and keep on average nearly $1,000
This plan simplifies the tax code by taking nearly 50% of current filers off the income tax rolls entirely and reducing the number of tax brackets from 7 to 4 for everyone else
The following will pay 0% income taxes and 0% Long Term Cap Gains/ Dividends:
-Single filers earning $0-25,000
-Married filers earning $0-50,000
-Heads of Household earning $0-37,500
The following will pay 10% income taxes and 0% Long Term Cap Gains/ Dividends:
-Single filers earning $25,001-50,000
-Married filers earning $50,000-100,000
-Heads of Household earning $37,501-75,000
The following will pay 20% income taxes and 15% Long Term Cap Gains/ -Dividends:
-Single filers earning $50,001-150,000
-Married filers earning $100,001-300,000
-Heads of Household earning $75,001-225,00
The following will pay 25% income taxes and 20% Long Term Cap Gains/ -Dividends:
-Single filers earning $150,001+
-Married filers earning $300,001+
-Heads of Household earning $225,001+
https://www.donaldjtrump.com/positions/tax-reformThe tax foundation's analysis finds that the plan would reduce federal revenues by $11.98 trillion over the next decade
Increase GDP by 11%
Eliminates the Net Investment Income Tax of 3.8%
The plan would lead to 6.5% higher wages and a 29% larger capital stock
The changes to the corporate income tax will reduce revenues by an additional $1.54 trillion over the next decade
However, if we account for the economic growth that the plan would produce, the plan would end up lowering revenue by $10.14 trillion over the next decade
Donald Trump’s tax plan would increase the after-tax income across all taxpayers by 10.2%
The top 1% of all taxpayers would see a 21.6% increase in after-tax income
http://taxfoundation.org/article/details-and-analysis-donald-trump-s-tax-plan