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Ted Cruz adds to GOP divide on how best to overhaul tax system

in 2017/Top Headlines by

In proposing the U.S. adopt a flat tax coupled with a levy similar to a European-style value added tax, Texas Sen. Ted Cruz is contributing to a division in the Republican presidential field. Some simply want to cut existing rates. But others — Cruz among them — suggest scrapping the nation’s tax code entirely and starting over from scratch. All the tax plans released by the Republican candidates to date would starkly reduce the amount of money Americans and U.S.…

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Reliance on property, sales taxes holds Florida back in new tax fairness report

in Statewide/Top Headlines by

A new report released Monday by online financial services firm WalletHub says Florida ranks near the bottom nationally when it comes to the fairness of its state and local taxes. The survey evaluated the taxes levied by all 50 states – broken down by income, property, sales & excise and “other” taxes – and how they are levied on people of varying income brackets and compared that to the ideal system of taxation, gathered by asking respondents the question, “In thinking about…

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