Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

[David_42]

Hilarious.
Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

This item has been updated.

Just three tax brackets. No more taxes on death or marriage. Tax cuts for major corporations and small businesses and about 42 million families.

[Tax proposal comes as Bush tries to gain ground on Trump]

Republican presidential candidate Jeb Bush on Wednesday unveiled a long-awaited tax reform plan that would add trillions of dollars to the deficit, filling in details that he says would help fulfill his promise to restore 4 percent annual economic growth. With a North Carolina factory as his backdrop, Bush married traditional conservative thinking on taxes with some politically viable proposals that already enjoy support on Capitol Hill.

The plan would add $1.2 trillion to the deficit, even when using a system favored by Republicans that takes into account any potential growth the tax changes could encourage, according to Republican economists who reviewed the plan on Bush's behalf. The plan would lose closer to $3.4 trillion using traditional methods.

Given the high price tag and some of the details, Bush's tax plan is fraught with political peril. His brother, former president George W. Bush, focused much of his 2000 presidential campaign on plans to slash taxes and jump-start economic growth. Those tax cuts contributed to the record deficit spending that even Jeb Bush criticized Tuesday night on Stephen Colbert's new late-night talk show. In 2012, GOP presidential nominee Mitt Romney had similar ideas on tax reform that were widely dismissed by voters, who believed he was pushing policies that would mostly help wealthy people.

[Analysis: What's new and what isn't in Jeb Bush's tax plan]

So Bush is also embracing an idea also backed by GOP frontrunner Donald Trump and Democrats, including President Obama and Hillary Rodham Clinton. He would end a lucrative tax loophole for hedge fund and private equity managers that lets them avoid billions of dollars in taxes by treating their income as capital gains instead of salaries.

"My plan works whether you're on Main Street or Wall Street – no special favors, no special breaks," he told workers and invited supporters at Morris & Associates, an industrial refrigeration company in Garner, N.C.

Bush described the current tax code as "a disaster."

“It punishes people for doing things we should encourage and rewards people for doing things that may not be so good," he added. "It taxes paychecks hard but gives companies a write-off for debt. The current tax code makes it easier to borrow than to build. I believe it’s time we build for the future, not borrow from it."

Later, he explained his plan by using what he claimed was a common Florida phrase: "We need to let the big dog eat. We need to focus on creating a fair environment, and then let people pursue their dreams as they see fit."

If Bush becomes president, he would seek to condense seven tax brackets into three: 10 percent, 25, percent and 28 percent. He would slash the corporate tax rate to 20 percent, end the Alternative Minimum Tax, the estate tax and the so-called marriage penalty tax, while continuing deductions for charitable giving. Bush also would cut home mortgage deductions to just 2 percent and eliminate state and local tax deductions, essentially goading local governments to slash high tax rates.

Independent assessments of the total cost of Bush's proposals weren't immediately available. But in advance of its release, the Bush campaign asked four GOP economists -- John Cogan, Martin Feldstein, Glenn Hubbard and Kevin Warsh -- to analyze the plan. Buried within their 17-page analysis was the trillions-dollar price tag. Notably, they did not factor for Bush's goal of 4 percent economic growth, instead presuming that an additional 0.5 percent per year in growth would come from the tax plan and another 0.3 percent from proposed regulatory reforms. That would still leave the U.S. economy short of 4 percent annual growth.

Bush spokeswoman Allie Brandenburger dismissed the traditional scoring of such plans as "antiquated" and "irrelevant, except to partisan liberals who think that we can tax our way to prosperity."

 

[Sun Devil 92]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

 

[Zander]

Jeb who?

 

[ScienceRocks]

And at the same time what will we get with giving more money to the rich? NOT A DAMN THING. We'll have less for infrastructure, science, r&d and education.

Time to increase taxes and get more revenue to pay off what we currently owe. Stupid fucking bush.

 

[frigidweirdo]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

So not implementing the tax cut will cost the country 10 trillion over eight years? Er....

 

[ScienceRocks]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

Are you dumb or something??? What will this 3.4 trillion do for America? Nothing! In fact it means deeper cuts in every area to pay for the damn thing.

 

[Sun Devil 92]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

So not implementing the tax cut will cost the country 10 trillion over eight years? Er....

I figured that you guys who are such debt lovers (look at Obama's record) would think that Bush should actually cut deeper.

 

[Sun Devil 92]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

Are you dumb or something??? What will this 3.4 trillion do for America? Nothing! In fact it means deeper cuts in every area to pay for the damn thing.

Tell me what Bush's/Obama's debt did for America ?

 

[1stRambo]

Hilarious.
Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

This item has been updated.

Just three tax brackets. No more taxes on death or marriage. Tax cuts for major corporations and small businesses and about 42 million families.

[Tax proposal comes as Bush tries to gain ground on Trump]

Republican presidential candidate Jeb Bush on Wednesday unveiled a long-awaited tax reform plan that would add trillions of dollars to the deficit, filling in details that he says would help fulfill his promise to restore 4 percent annual economic growth. With a North Carolina factory as his backdrop, Bush married traditional conservative thinking on taxes with some politically viable proposals that already enjoy support on Capitol Hill.

The plan would add $1.2 trillion to the deficit, even when using a system favored by Republicans that takes into account any potential growth the tax changes could encourage, according to Republican economists who reviewed the plan on Bush's behalf. The plan would lose closer to $3.4 trillion using traditional methods.

Given the high price tag and some of the details, Bush's tax plan is fraught with political peril. His brother, former president George W. Bush, focused much of his 2000 presidential campaign on plans to slash taxes and jump-start economic growth. Those tax cuts contributed to the record deficit spending that even Jeb Bush criticized Tuesday night on Stephen Colbert's new late-night talk show. In 2012, GOP presidential nominee Mitt Romney had similar ideas on tax reform that were widely dismissed by voters, who believed he was pushing policies that would mostly help wealthy people.

[Analysis: What's new and what isn't in Jeb Bush's tax plan]

So Bush is also embracing an idea also backed by GOP frontrunner Donald Trump and Democrats, including President Obama and Hillary Rodham Clinton. He would end a lucrative tax loophole for hedge fund and private equity managers that lets them avoid billions of dollars in taxes by treating their income as capital gains instead of salaries.

"My plan works whether you're on Main Street or Wall Street – no special favors, no special breaks," he told workers and invited supporters at Morris & Associates, an industrial refrigeration company in Garner, N.C.

Bush described the current tax code as "a disaster."

“It punishes people for doing things we should encourage and rewards people for doing things that may not be so good," he added. "It taxes paychecks hard but gives companies a write-off for debt. The current tax code makes it easier to borrow than to build. I believe it’s time we build for the future, not borrow from it."

Later, he explained his plan by using what he claimed was a common Florida phrase: "We need to let the big dog eat. We need to focus on creating a fair environment, and then let people pursue their dreams as they see fit."

If Bush becomes president, he would seek to condense seven tax brackets into three: 10 percent, 25, percent and 28 percent. He would slash the corporate tax rate to 20 percent, end the Alternative Minimum Tax, the estate tax and the so-called marriage penalty tax, while continuing deductions for charitable giving. Bush also would cut home mortgage deductions to just 2 percent and eliminate state and local tax deductions, essentially goading local governments to slash high tax rates.

Independent assessments of the total cost of Bush's proposals weren't immediately available. But in advance of its release, the Bush campaign asked four GOP economists -- John Cogan, Martin Feldstein, Glenn Hubbard and Kevin Warsh -- to analyze the plan. Buried within their 17-page analysis was the trillions-dollar price tag. Notably, they did not factor for Bush's goal of 4 percent economic growth, instead presuming that an additional 0.5 percent per year in growth would come from the tax plan and another 0.3 percent from proposed regulatory reforms. That would still leave the U.S. economy short of 4 percent annual growth.

Bush spokeswoman Allie Brandenburger dismissed the traditional scoring of such plans as "antiquated" and "irrelevant, except to partisan liberals who think that we can tax our way to prosperity."

Yo, sounds like he is not wasting the taxpayer money to me! You idiots don`t understand anything, except TAX THE RICH! Bunch of dumb-asses!!!

"GTP"

 

[frigidweirdo]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

So not implementing the tax cut will cost the country 10 trillion over eight years? Er....

I figured that you guys who are such debt lovers (look at Obama's record) would think that Bush should actually cut deeper.

So.... Bush didn't make massive debt from two wars while lowering taxes for his rich friends?

 

[1stRambo]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

So not implementing the tax cut will cost the country 10 trillion over eight years? Er....

I figured that you guys who are such debt lovers (look at Obama's record) would think that Bush should actually cut deeper.

So.... Bush didn't make massive debt from two wars while lowering taxes for his rich friends?

Yo, Bush was not a "Conservative Republican" like Ted Cruz! He was a BIG Spender!!! He kinda messed it up for Jeb Bush!!!

"GTP"

 

[Sun Devil 92]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

So not implementing the tax cut will cost the country 10 trillion over eight years? Er....

I figured that you guys who are such debt lovers (look at Obama's record) would think that Bush should actually cut deeper.

So.... Bush didn't make massive debt from two wars while lowering taxes for his rich friends?

He did....with the help of his so called republican congress.

Should have been the drunken sailor party.

 

[frigidweirdo]

Hilarious.
Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

This item has been updated.

Just three tax brackets. No more taxes on death or marriage. Tax cuts for major corporations and small businesses and about 42 million families.

[Tax proposal comes as Bush tries to gain ground on Trump]

Republican presidential candidate Jeb Bush on Wednesday unveiled a long-awaited tax reform plan that would add trillions of dollars to the deficit, filling in details that he says would help fulfill his promise to restore 4 percent annual economic growth. With a North Carolina factory as his backdrop, Bush married traditional conservative thinking on taxes with some politically viable proposals that already enjoy support on Capitol Hill.

The plan would add $1.2 trillion to the deficit, even when using a system favored by Republicans that takes into account any potential growth the tax changes could encourage, according to Republican economists who reviewed the plan on Bush's behalf. The plan would lose closer to $3.4 trillion using traditional methods.

Given the high price tag and some of the details, Bush's tax plan is fraught with political peril. His brother, former president George W. Bush, focused much of his 2000 presidential campaign on plans to slash taxes and jump-start economic growth. Those tax cuts contributed to the record deficit spending that even Jeb Bush criticized Tuesday night on Stephen Colbert's new late-night talk show. In 2012, GOP presidential nominee Mitt Romney had similar ideas on tax reform that were widely dismissed by voters, who believed he was pushing policies that would mostly help wealthy people.

[Analysis: What's new and what isn't in Jeb Bush's tax plan]

So Bush is also embracing an idea also backed by GOP frontrunner Donald Trump and Democrats, including President Obama and Hillary Rodham Clinton. He would end a lucrative tax loophole for hedge fund and private equity managers that lets them avoid billions of dollars in taxes by treating their income as capital gains instead of salaries.

"My plan works whether you're on Main Street or Wall Street – no special favors, no special breaks," he told workers and invited supporters at Morris & Associates, an industrial refrigeration company in Garner, N.C.

Bush described the current tax code as "a disaster."

“It punishes people for doing things we should encourage and rewards people for doing things that may not be so good," he added. "It taxes paychecks hard but gives companies a write-off for debt. The current tax code makes it easier to borrow than to build. I believe it’s time we build for the future, not borrow from it."

Later, he explained his plan by using what he claimed was a common Florida phrase: "We need to let the big dog eat. We need to focus on creating a fair environment, and then let people pursue their dreams as they see fit."

If Bush becomes president, he would seek to condense seven tax brackets into three: 10 percent, 25, percent and 28 percent. He would slash the corporate tax rate to 20 percent, end the Alternative Minimum Tax, the estate tax and the so-called marriage penalty tax, while continuing deductions for charitable giving. Bush also would cut home mortgage deductions to just 2 percent and eliminate state and local tax deductions, essentially goading local governments to slash high tax rates.

Independent assessments of the total cost of Bush's proposals weren't immediately available. But in advance of its release, the Bush campaign asked four GOP economists -- John Cogan, Martin Feldstein, Glenn Hubbard and Kevin Warsh -- to analyze the plan. Buried within their 17-page analysis was the trillions-dollar price tag. Notably, they did not factor for Bush's goal of 4 percent economic growth, instead presuming that an additional 0.5 percent per year in growth would come from the tax plan and another 0.3 percent from proposed regulatory reforms. That would still leave the U.S. economy short of 4 percent annual growth.

Bush spokeswoman Allie Brandenburger dismissed the traditional scoring of such plans as "antiquated" and "irrelevant, except to partisan liberals who think that we can tax our way to prosperity."

Yo, sounds like he is not wasting the taxpayer money to me! You idiots don`t understand anything, except TAX THE RICH! Bunch of dumb-asses!!!

"GTP"
View attachment 49820

Why do you care if the rich get taxed?

But I don't want the rich to pay too much. I also don't want them to pay too little.

 

[ScienceRocks]

These rich give aways will be added on top of infrastructure, science, r&d and education investment. The thing is these so called "tax breaks" will mean less revenue to pay for things.

I guess being a first world country isn't what you assholes want.

 

[frigidweirdo]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

So not implementing the tax cut will cost the country 10 trillion over eight years? Er....

I figured that you guys who are such debt lovers (look at Obama's record) would think that Bush should actually cut deeper.

So.... Bush didn't make massive debt from two wars while lowering taxes for his rich friends?

Yo, Bush was not a "Conservative Republican" like Ted Cruz! He was a BIG Spender!!! He kinda messed it up for Jeb Bush!!!

"GTP"
View attachment 49822

Cruz was trying to get in on the govt official who thinks she can do what she likes. He's got no chance. If he came up against the democrats he'd be slaughtered.

Bush isn't a real conservative republican? Is this a way of distancing yourself from his complete and utter incompetence?

 

[1stRambo]

Hilarious.
Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

This item has been updated.

Just three tax brackets. No more taxes on death or marriage. Tax cuts for major corporations and small businesses and about 42 million families.

[Tax proposal comes as Bush tries to gain ground on Trump]

Republican presidential candidate Jeb Bush on Wednesday unveiled a long-awaited tax reform plan that would add trillions of dollars to the deficit, filling in details that he says would help fulfill his promise to restore 4 percent annual economic growth. With a North Carolina factory as his backdrop, Bush married traditional conservative thinking on taxes with some politically viable proposals that already enjoy support on Capitol Hill.

The plan would add $1.2 trillion to the deficit, even when using a system favored by Republicans that takes into account any potential growth the tax changes could encourage, according to Republican economists who reviewed the plan on Bush's behalf. The plan would lose closer to $3.4 trillion using traditional methods.

Given the high price tag and some of the details, Bush's tax plan is fraught with political peril. His brother, former president George W. Bush, focused much of his 2000 presidential campaign on plans to slash taxes and jump-start economic growth. Those tax cuts contributed to the record deficit spending that even Jeb Bush criticized Tuesday night on Stephen Colbert's new late-night talk show. In 2012, GOP presidential nominee Mitt Romney had similar ideas on tax reform that were widely dismissed by voters, who believed he was pushing policies that would mostly help wealthy people.

[Analysis: What's new and what isn't in Jeb Bush's tax plan]

So Bush is also embracing an idea also backed by GOP frontrunner Donald Trump and Democrats, including President Obama and Hillary Rodham Clinton. He would end a lucrative tax loophole for hedge fund and private equity managers that lets them avoid billions of dollars in taxes by treating their income as capital gains instead of salaries.

"My plan works whether you're on Main Street or Wall Street – no special favors, no special breaks," he told workers and invited supporters at Morris & Associates, an industrial refrigeration company in Garner, N.C.

Bush described the current tax code as "a disaster."

“It punishes people for doing things we should encourage and rewards people for doing things that may not be so good," he added. "It taxes paychecks hard but gives companies a write-off for debt. The current tax code makes it easier to borrow than to build. I believe it’s time we build for the future, not borrow from it."

Later, he explained his plan by using what he claimed was a common Florida phrase: "We need to let the big dog eat. We need to focus on creating a fair environment, and then let people pursue their dreams as they see fit."

If Bush becomes president, he would seek to condense seven tax brackets into three: 10 percent, 25, percent and 28 percent. He would slash the corporate tax rate to 20 percent, end the Alternative Minimum Tax, the estate tax and the so-called marriage penalty tax, while continuing deductions for charitable giving. Bush also would cut home mortgage deductions to just 2 percent and eliminate state and local tax deductions, essentially goading local governments to slash high tax rates.

Independent assessments of the total cost of Bush's proposals weren't immediately available. But in advance of its release, the Bush campaign asked four GOP economists -- John Cogan, Martin Feldstein, Glenn Hubbard and Kevin Warsh -- to analyze the plan. Buried within their 17-page analysis was the trillions-dollar price tag. Notably, they did not factor for Bush's goal of 4 percent economic growth, instead presuming that an additional 0.5 percent per year in growth would come from the tax plan and another 0.3 percent from proposed regulatory reforms. That would still leave the U.S. economy short of 4 percent annual growth.

Bush spokeswoman Allie Brandenburger dismissed the traditional scoring of such plans as "antiquated" and "irrelevant, except to partisan liberals who think that we can tax our way to prosperity."

Yo, sounds like he is not wasting the taxpayer money to me! You idiots don`t understand anything, except TAX THE RICH! Bunch of dumb-asses!!!

"GTP"
View attachment 49820

Why do you care if the rich get taxed?

But I don't want the rich to pay too much. I also don't want them to pay too little.

Yo, the more Government taxes them? The less you make!

"GTP"

 

[tyroneweaver]

Wow....

3.4 Trillion over ten years ?

vs.

10 Trillion over eight years.

Seems like an improvement to me.

So not implementing the tax cut will cost the country 10 trillion over eight years? Er....

I figured that you guys who are such debt lovers (look at Obama's record) would think that Bush should actually cut deeper.

So.... Bush didn't make massive debt from two wars while lowering taxes for his rich friends?

you may be preaching to the choir. Most true conservatives don't care for bush
never vetoed anything
created another massive gov over reach
tarp, bank bailout.

 

[frigidweirdo]

Hilarious.
Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

This item has been updated.

Just three tax brackets. No more taxes on death or marriage. Tax cuts for major corporations and small businesses and about 42 million families.

[Tax proposal comes as Bush tries to gain ground on Trump]

Republican presidential candidate Jeb Bush on Wednesday unveiled a long-awaited tax reform plan that would add trillions of dollars to the deficit, filling in details that he says would help fulfill his promise to restore 4 percent annual economic growth. With a North Carolina factory as his backdrop, Bush married traditional conservative thinking on taxes with some politically viable proposals that already enjoy support on Capitol Hill.

The plan would add $1.2 trillion to the deficit, even when using a system favored by Republicans that takes into account any potential growth the tax changes could encourage, according to Republican economists who reviewed the plan on Bush's behalf. The plan would lose closer to $3.4 trillion using traditional methods.

Given the high price tag and some of the details, Bush's tax plan is fraught with political peril. His brother, former president George W. Bush, focused much of his 2000 presidential campaign on plans to slash taxes and jump-start economic growth. Those tax cuts contributed to the record deficit spending that even Jeb Bush criticized Tuesday night on Stephen Colbert's new late-night talk show. In 2012, GOP presidential nominee Mitt Romney had similar ideas on tax reform that were widely dismissed by voters, who believed he was pushing policies that would mostly help wealthy people.

[Analysis: What's new and what isn't in Jeb Bush's tax plan]

So Bush is also embracing an idea also backed by GOP frontrunner Donald Trump and Democrats, including President Obama and Hillary Rodham Clinton. He would end a lucrative tax loophole for hedge fund and private equity managers that lets them avoid billions of dollars in taxes by treating their income as capital gains instead of salaries.

"My plan works whether you're on Main Street or Wall Street – no special favors, no special breaks," he told workers and invited supporters at Morris & Associates, an industrial refrigeration company in Garner, N.C.

Bush described the current tax code as "a disaster."

“It punishes people for doing things we should encourage and rewards people for doing things that may not be so good," he added. "It taxes paychecks hard but gives companies a write-off for debt. The current tax code makes it easier to borrow than to build. I believe it’s time we build for the future, not borrow from it."

Later, he explained his plan by using what he claimed was a common Florida phrase: "We need to let the big dog eat. We need to focus on creating a fair environment, and then let people pursue their dreams as they see fit."

If Bush becomes president, he would seek to condense seven tax brackets into three: 10 percent, 25, percent and 28 percent. He would slash the corporate tax rate to 20 percent, end the Alternative Minimum Tax, the estate tax and the so-called marriage penalty tax, while continuing deductions for charitable giving. Bush also would cut home mortgage deductions to just 2 percent and eliminate state and local tax deductions, essentially goading local governments to slash high tax rates.

Independent assessments of the total cost of Bush's proposals weren't immediately available. But in advance of its release, the Bush campaign asked four GOP economists -- John Cogan, Martin Feldstein, Glenn Hubbard and Kevin Warsh -- to analyze the plan. Buried within their 17-page analysis was the trillions-dollar price tag. Notably, they did not factor for Bush's goal of 4 percent economic growth, instead presuming that an additional 0.5 percent per year in growth would come from the tax plan and another 0.3 percent from proposed regulatory reforms. That would still leave the U.S. economy short of 4 percent annual growth.

Bush spokeswoman Allie Brandenburger dismissed the traditional scoring of such plans as "antiquated" and "irrelevant, except to partisan liberals who think that we can tax our way to prosperity."

Yo, sounds like he is not wasting the taxpayer money to me! You idiots don`t understand anything, except TAX THE RICH! Bunch of dumb-asses!!!

"GTP"
View attachment 49820

Why do you care if the rich get taxed?

But I don't want the rich to pay too much. I also don't want them to pay too little.

Yo, the more Government taxes them? The less you make!

"GTP"

Not necessarily.

Take Somalia. The less govt taxes you pay, the little difference it makes.

Rich people get rich because the govt spends on infrastructure, it spends on making trade with foreign countries easy, it spends on wars to open up oil markets and to try and make the impact of OPEC much reduced so you have lower fuel prices, it spends on a LOT of things that make it much easier to make a lot of money.

But the people who make all this money pretend that only they have made this money and had not help at all from the government and shouldn't have to pay anything.

 

[1stRambo]

Hilarious.
Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

This item has been updated.

Just three tax brackets. No more taxes on death or marriage. Tax cuts for major corporations and small businesses and about 42 million families.

[Tax proposal comes as Bush tries to gain ground on Trump]

Republican presidential candidate Jeb Bush on Wednesday unveiled a long-awaited tax reform plan that would add trillions of dollars to the deficit, filling in details that he says would help fulfill his promise to restore 4 percent annual economic growth. With a North Carolina factory as his backdrop, Bush married traditional conservative thinking on taxes with some politically viable proposals that already enjoy support on Capitol Hill.

The plan would add $1.2 trillion to the deficit, even when using a system favored by Republicans that takes into account any potential growth the tax changes could encourage, according to Republican economists who reviewed the plan on Bush's behalf. The plan would lose closer to $3.4 trillion using traditional methods.

Given the high price tag and some of the details, Bush's tax plan is fraught with political peril. His brother, former president George W. Bush, focused much of his 2000 presidential campaign on plans to slash taxes and jump-start economic growth. Those tax cuts contributed to the record deficit spending that even Jeb Bush criticized Tuesday night on Stephen Colbert's new late-night talk show. In 2012, GOP presidential nominee Mitt Romney had similar ideas on tax reform that were widely dismissed by voters, who believed he was pushing policies that would mostly help wealthy people.

[Analysis: What's new and what isn't in Jeb Bush's tax plan]

So Bush is also embracing an idea also backed by GOP frontrunner Donald Trump and Democrats, including President Obama and Hillary Rodham Clinton. He would end a lucrative tax loophole for hedge fund and private equity managers that lets them avoid billions of dollars in taxes by treating their income as capital gains instead of salaries.

"My plan works whether you're on Main Street or Wall Street – no special favors, no special breaks," he told workers and invited supporters at Morris & Associates, an industrial refrigeration company in Garner, N.C.

Bush described the current tax code as "a disaster."

“It punishes people for doing things we should encourage and rewards people for doing things that may not be so good," he added. "It taxes paychecks hard but gives companies a write-off for debt. The current tax code makes it easier to borrow than to build. I believe it’s time we build for the future, not borrow from it."

Later, he explained his plan by using what he claimed was a common Florida phrase: "We need to let the big dog eat. We need to focus on creating a fair environment, and then let people pursue their dreams as they see fit."

If Bush becomes president, he would seek to condense seven tax brackets into three: 10 percent, 25, percent and 28 percent. He would slash the corporate tax rate to 20 percent, end the Alternative Minimum Tax, the estate tax and the so-called marriage penalty tax, while continuing deductions for charitable giving. Bush also would cut home mortgage deductions to just 2 percent and eliminate state and local tax deductions, essentially goading local governments to slash high tax rates.

Independent assessments of the total cost of Bush's proposals weren't immediately available. But in advance of its release, the Bush campaign asked four GOP economists -- John Cogan, Martin Feldstein, Glenn Hubbard and Kevin Warsh -- to analyze the plan. Buried within their 17-page analysis was the trillions-dollar price tag. Notably, they did not factor for Bush's goal of 4 percent economic growth, instead presuming that an additional 0.5 percent per year in growth would come from the tax plan and another 0.3 percent from proposed regulatory reforms. That would still leave the U.S. economy short of 4 percent annual growth.

Bush spokeswoman Allie Brandenburger dismissed the traditional scoring of such plans as "antiquated" and "irrelevant, except to partisan liberals who think that we can tax our way to prosperity."

Yo, could cost the Government. from wasting money, that`s a good thing! Need to kick those leeches off Welfare too!!!

"GTP"
Blood Sucking Leech!

 

[1stRambo]

Hilarious.
Jeb Bush’s new tax plan could cost $3.4 trillion over next decade

This item has been updated.

Just three tax brackets. No more taxes on death or marriage. Tax cuts for major corporations and small businesses and about 42 million families.

[Tax proposal comes as Bush tries to gain ground on Trump]

Republican presidential candidate Jeb Bush on Wednesday unveiled a long-awaited tax reform plan that would add trillions of dollars to the deficit, filling in details that he says would help fulfill his promise to restore 4 percent annual economic growth. With a North Carolina factory as his backdrop, Bush married traditional conservative thinking on taxes with some politically viable proposals that already enjoy support on Capitol Hill.

The plan would add $1.2 trillion to the deficit, even when using a system favored by Republicans that takes into account any potential growth the tax changes could encourage, according to Republican economists who reviewed the plan on Bush's behalf. The plan would lose closer to $3.4 trillion using traditional methods.

Given the high price tag and some of the details, Bush's tax plan is fraught with political peril. His brother, former president George W. Bush, focused much of his 2000 presidential campaign on plans to slash taxes and jump-start economic growth. Those tax cuts contributed to the record deficit spending that even Jeb Bush criticized Tuesday night on Stephen Colbert's new late-night talk show. In 2012, GOP presidential nominee Mitt Romney had similar ideas on tax reform that were widely dismissed by voters, who believed he was pushing policies that would mostly help wealthy people.

[Analysis: What's new and what isn't in Jeb Bush's tax plan]

So Bush is also embracing an idea also backed by GOP frontrunner Donald Trump and Democrats, including President Obama and Hillary Rodham Clinton. He would end a lucrative tax loophole for hedge fund and private equity managers that lets them avoid billions of dollars in taxes by treating their income as capital gains instead of salaries.

"My plan works whether you're on Main Street or Wall Street – no special favors, no special breaks," he told workers and invited supporters at Morris & Associates, an industrial refrigeration company in Garner, N.C.

Bush described the current tax code as "a disaster."

“It punishes people for doing things we should encourage and rewards people for doing things that may not be so good," he added. "It taxes paychecks hard but gives companies a write-off for debt. The current tax code makes it easier to borrow than to build. I believe it’s time we build for the future, not borrow from it."

Later, he explained his plan by using what he claimed was a common Florida phrase: "We need to let the big dog eat. We need to focus on creating a fair environment, and then let people pursue their dreams as they see fit."

If Bush becomes president, he would seek to condense seven tax brackets into three: 10 percent, 25, percent and 28 percent. He would slash the corporate tax rate to 20 percent, end the Alternative Minimum Tax, the estate tax and the so-called marriage penalty tax, while continuing deductions for charitable giving. Bush also would cut home mortgage deductions to just 2 percent and eliminate state and local tax deductions, essentially goading local governments to slash high tax rates.

Independent assessments of the total cost of Bush's proposals weren't immediately available. But in advance of its release, the Bush campaign asked four GOP economists -- John Cogan, Martin Feldstein, Glenn Hubbard and Kevin Warsh -- to analyze the plan. Buried within their 17-page analysis was the trillions-dollar price tag. Notably, they did not factor for Bush's goal of 4 percent economic growth, instead presuming that an additional 0.5 percent per year in growth would come from the tax plan and another 0.3 percent from proposed regulatory reforms. That would still leave the U.S. economy short of 4 percent annual growth.

Bush spokeswoman Allie Brandenburger dismissed the traditional scoring of such plans as "antiquated" and "irrelevant, except to partisan liberals who think that we can tax our way to prosperity."

Yo, sounds like he is not wasting the taxpayer money to me! You idiots don`t understand anything, except TAX THE RICH! Bunch of dumb-asses!!!

"GTP"
View attachment 49820

Why do you care if the rich get taxed?

But I don't want the rich to pay too much. I also don't want them to pay too little.

Yo, the more Government taxes them? The less you make!

"GTP"

Not necessarily.

Take Somalia. The less govt taxes you pay, the little difference it makes.

Rich people get rich because the govt spends on infrastructure, it spends on making trade with foreign countries easy, it spends on wars to open up oil markets and to try and make the impact of OPEC much reduced so you have lower fuel prices, it spends on a LOT of things that make it much easier to make a lot of money.

But the people who make all this money pretend that only they have made this money and had not help at all from the government and shouldn't have to pay anything.

Yo, sounds like you are pushing it a little?

"GTP"