(Bloomberg)  Presidential candidate Ted Cruz’s tax proposals, which include cutting taxes for most individuals and replacing the corporate income tax with a flat 16 percent business tax, would reduce federal revenue by $8.6 trillion over a decade and “almost surely depress the economy over the long run,” according to a policy study and its authors.

Cruz’s plan would benefit wealthy taxpayers “dramatically” and raise taxes slightly for some people in the bottom fifth of low-income taxpayers, according to a report released Tuesday by the Tax Policy Center, a research group in Washington, D.C. The center is a joint project of the Urban Institute and the Brookings Institution.

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