- Associated Press - Friday, May 15, 2015

ATHENS, Ga. (AP) - Presidential candidate Ted Cruz said Friday that he will release in the coming weeks details of his promised “simple, flat tax” to replace existing graduated income tax rates.

But the Texas senator told the Associated Press that he’s still not decided on key details, such as whether a flat tax would also replace payroll taxes and taxes on investment income.

Payroll taxes, which don’t apply to earned income beyond $118,500, on top of a flat tax could leave lower income workers paying a larger overall share of their income in federal taxes than higher-paid workers.

Cruz also wouldn’t commit to releasing detailed revenue estimates with his outline, though he repeated his argument that the changes would spur enough economic growth to meet his promises to “protect Social Security and Medicare.”



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