Cruz Proposes 10 Percent Flat Tax

Sen. Ted Cruz on Wednesday said that if he reached the White House he would establish a flat tax of 10 percent on all individual income above $36,000.

Cruz, a U.S. senator from Texas, said in an op-ed in the Wall Street Journal that income below that level would not be taxed. Cruz also said he would eliminate the estate tax and taxes tied to the Obamacare health overhaul, and he would implement a 16 percent flat business tax.