What Would Ben Carson's 15% Flat Tax Mean for Landlords?

[Tim Porsche]

Hey all, bit of a hypothetical question here, but would you be worried if Carson's 15% flat tax would be adopted at some point? He said there would be no deductions...which would obviously have a huge negative impact on your cash flow if you couldn't deduct depreciation, mortgage interest, insurance, operating expenses, repairs, amortize capex costs, etc.

Am I missing something, or would a 15% flat tax with no deductions be as bad for landlords as I think it would?