Gary North, in an essay entitled, "Tax Payment Calculator (Rigged): 4 Presidential Candidates", opines:
"I would go with Cruz's plan: a flat tax. This honors the principle
of the rule of law: all people pay the same percentage. I call it the
principle of the tithe. To vote to impose a tax on someone else
requires that you vote to pay the same. This principle is never honored
in politics...This would involve massive spending cuts. I'm for that, too. But Cruz does not mention this in his speeches."
Yes, I'm for a flat tax too. I agree with Gary's principle of voting for yourself what you vote for others. BUT...I disagree that lower taxes "would involve massive spending cuts".
We'll just do what we've been doing, oh, since the '50s at least, and just paper over the difference between collections and spending with money creation. Don't just take my word for it, here's what Alan Greenspan recently said:
And frankly, if that flat ten percent leaves NO loopholes at all, except for the $10k deduction for everyone, I think that perhaps revenue collection will be "enhanced", to use a governmental term. And, more importantly, 95% of the IRS will be left without justification for its existence. Just the prospect of putting 95% of that organization's bureaucratic parasites out on the street is enough for me to vote for the flat tax (but not for Cruz).
Just to make my position perfectly clear: I think that the income tax is a smokescreen. It's a smokescreen to obscure the amount of money creation that's been going on. If there were no income tax, and government carried on business as usual, people might get wise: "Where's the money coming from?"
To further clarify my position: IMO, tax collection is the least important of the IRS's functions. Its primary purpose is to ride herd on the citizenry, and keep them in line. Case in point: the administration's siccing the IRS on conservative groups they didn't like. If you REALLY want to nail someone, forget the FBI--send the IRS after them. (Didn't they finally get Capone on tax evasion charges? That speaks volumes.)
The income tax is just a not-so-subtle yearly reminder of who's boss.