Paul L. Caron
Dean




Tuesday, January 5, 2016

Ben Carson's Tax Plan:  14.9% Flat Tax, No Charitable, Mortgage, State & Local Tax Deductions, No Tax On Capital Gains, Dividends, Interest

Ben Carson 3Ben Carson, A Simple, Transparent and Fair Tax System for All Americans: Everybody Gains, America Prospers and We Return to Our Ideals:

Ben

Press and blogosphere coverage:

https://taxprof.typepad.com/taxprof_blog/2016/01/ben-carsons-tax-plan-149-flat-tax-no-charitable-mortgage-state-local-tax-deductions-no-tax-on-capita.html

Political News, Tax | Permalink

Comments

You may want to read the forbes article. Everything is taxed at the personal level, so capital gains are taxed. There is no shift in tax burden to the middle class, they actually pay less now

Posted by: TC1994 | Jan 6, 2016 7:42:20 AM

The middle class will like this plan as well as the wealthy. Reason: the middle class has income from dividends, interest, capital gains that get hit at top rates when added to other middle class income. As to deductions, why should federal and state governments write checks to charities, mortgage companies? As to capital gains not subject to tax consider that the gains are phantom, namely you had an asset, you converted its form when you sold it, same asset.

Posted by: gregger | Jan 6, 2016 7:39:47 AM

I am sure that the wealthy will like this plan. If they can take their income as dividends or interest-no tax. His plan exempts capital gains at the personal level from tax based on them already having been taxed. What this really means is that personal capital gains will not ever be taxed. This will simply shift more of the tax burden to the middle class. This guy has no class.

Posted by: gator | Jan 6, 2016 6:25:46 AM