Jeb Bush: Here's my plan to get to 4% growth

[bertramhall]

Jeb Bush tax reform plan - Business Insider

Jeb Bush promises to achieve 4% GDP growth. It seems to be impossible as we see only 1,1% in average since 2008. Do you think he could really attain this goal only for 4 years with his program?
Here are the points of his proposals:

• He wants to cut the number of individual tax brackets from seven to three — 28%, 25%, and 10%. Right now, the highest individual tax rate is above 39%.

• He would cut the corporate tax rate from its current level of 35% down to 20%.

• He seemingly takes aim at "carried interest," a loophole that many investment managers use to pay lower percentages on their incomes.

• "We will retain the deductibility of charitable contributions but cap the deductions used by the wealthy and Washington special interests, enabling tax-rate cuts across the board for everyone. And while we’re doing that, we will treat all noninvestment income the same, so unless you stake capital in an investment, you won’t be able to claim the capital-gains tax rate on your market gains," he wrote.

• He says he would expand the Earned Income Tax Credit, ding the estate tax, get rid of the alternative minimum tax, and end the employee's share of the Social Security tax for workers older than 67.

• Finally, he would impose a one-time tax of 8.75% on more than $2 trillion in overseas profits, which he says will be payable over a 10-year stretch.

 

[ScienceRocks]

Do you know what China, India and most of Africa currently growing at 4% do? Infrastructure, investment into education, science and r&d....You can never go wrong with those.

WE need to tax our fucking rich and make it hard to outsource.

 

[CrusaderFrank]

4% is a fucking piece of cake and I have no faith or trust in anyone named Bush

 

[Luddly Neddite]

Ronnie Ray-Gun on steroids.

Yep, he's a Bush all righty.

 

[g5000]

Jeb Bush tax reform plan - Business Insider

Jeb Bush promises to achieve 4% GDP growth. It seems to be impossible as we see only 1,1% in average since 2008. Do you think he could really attain this goal only for 4 years with his program?
Here are the points of his proposals:

• He wants to cut the number of individual tax brackets from seven to three — 28%, 25%, and 10%. Right now, the highest individual tax rate is above 39%.

• He would cut the corporate tax rate from its current level of 35% down to 20%.

• He seemingly takes aim at "carried interest," a loophole that many investment managers use to pay lower percentages on their incomes.

• "We will retain the deductibility of charitable contributions but cap the deductions used by the wealthy and Washington special interests, enabling tax-rate cuts across the board for everyone. And while we’re doing that, we will treat all noninvestment income the same, so unless you stake capital in an investment, you won’t be able to claim the capital-gains tax rate on your market gains," he wrote.

• He says he would expand the Earned Income Tax Credit, ding the estate tax, get rid of the alternative minimum tax, and end the employee's share of the Social Security tax for workers older than 67.

• Finally, he would impose a one-time tax of 8.75% on more than $2 trillion in overseas profits, which he says will be payable over a 10-year stretch.

Whew! I thought his 4% growth plan was going to involve penis pumps and Enzyte.

Here's something that will make you flaccid: Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

 

[Billy000]

Supply side economics doesn't work. I don't understand why you cons cannot grasp this.

 

[Mad Scientist]

"Ooooo! hes got a plan for 4 percent growth! Lets elect Mr Low Energy just for that!"

His "one time tax" would turn into an "all the time tax" for everybody.

He's a Bush. He's genetically a P.O.S. and learned how to lie from his father and Grandfather.

Supporting Bush is just as Stupid and Suicidal as supporting Hillary Roddam (hr17).

 

[bertramhall]

Do you know what China, India and most of Africa currently growing at 4% do? Infrastructure, investment into education, science and r&d....You can never go wrong with those.

WE need to tax our fucking rich and make it hard to outsource.

Taxes don`t really help to increase GDP growth. Here is another question: do we really need this growth. The US is not a developing country. Should we be at the heels of China?