Posted on 09/10/2015 7:17:34 AM PDT by Jim W N
Bush's plan starts by slashing tax rates. He'd return to the top personal income tax rate of 28% that America had when Ronald Reagan left office. That top rate, by the way, was a true bipartisan reform designed in part by congressional Democrats like Bill Bradley and Dick Gephardt. The rate has since migrated up to 42%, with many Democrats longing to tax the rich well above 50%.
Middle-class tax rates would fall to 10% for families with incomes up to $89,000 and to 25% for incomes up to $163,800. For singles, the thresholds are lower. But the thresholds are not high enough to ensure no one in the middle class gets pushed into higher tax brackets.
Corporate, capital gains and dividend taxes would all fall to 20% while the estate tax is eliminated. Bush also would provide immediate expensing of plant and equipment for businesses, which the Tax Foundation says is the most pro-growth tax fix to create jobs and higher incomes.
A new tax of 8.75% payable over 10 years would be created on overseas profits. This would reduce the tax incentive to keep foreign profits stored abroad and bring these funds back to America to be reinvested or distributed to shareholders.
Donald Trump has tapped into voter fear that America is losing jobs to foreign rivals. But if the goal is to bring jobs home, the best way to do so is to slash regulations and tax rates and keep the dollar strong — not to create trade barriers.
(Excerpt) Read more at news.investors.com ...
Nevertheless, Trump needs to pay attention to this:
“Donald Trump has tapped into voter fear that America is losing jobs to foreign rivals. But if the goal is to bring jobs home, the best way to do so is to slash regulations and tax rates and keep the dollar strong — not to create trade barriers.”
AND ABOLISH MINIMUM WAGE!
In other words more tax cuts for the MSM,the corporate rinos, the people who are helping the Dems bring in illegal aliens, gentry trust fund libs and platinum spooned socialists. No more what ever the economy gains will just be taken away by documented and undocmented Democrats. Do not fall for it. No Jeb, no way!
Kudlow? LOL. No thanks.
Maybe. But with Bush’s immigration plan, the only people getting jobs will be immigrants. Legal, and illegal.
And I’m supposed to believe Jeb Bush WHY?
That’s not enough slashing. I like Trump’s plan better. Tax rates would fall to 5% for for families with incomes up to $100,000. Up to 30k it falls to 1%. 100k to 1m is 10%. 1m+ is 15%.
It only took two posts. Thanks for saying what I was going to say.
Scrap the tax code altogether and go with a flat tax. Right now the system is tilted so that there are makers and takers, when in reality there are a lot more makers.
If everybody paid something, the number of BS programs coming out of DC would plummet, because people would look at each other and say, “I’m not paying for that. I’ll pay for subs, bullets, fences, even rockets to the moon. I’m not paying for Planned Parenthood, and I’m pro-choice.”
First...he’s got to win...a long shot.
ONLY 4%??????????
Is that all?????????????
Let Trump do it, we could have more.....
Go Trump/Cruz 2016!!! All the way to the White House!!!
That’s right. We should not have the same trade barriers that countries impose on the US. We should just let them dump their crap on us while we build our debtor economy and make the elite richer. /sarcasm
I’ll probably get flamed for this, but I think the fact that so many people pay NO taxes, or even get a tax rebate, is a big problem.
Why? Because these are the people who have no skin in the game. So, they are also the first to demand free stuff because its not costing them anything.
I’m not saying we should break their backs with taxes. But everyone should pay something—everyone should feel the pain of Government spending.
Better yet go with the “Fair Tax” and scrap the income tax altogether.
It would restore privacy and get rid of the IRS.
That’s 4% GROWTH, not tax cuts. 4% growth is fantastic. Real economic growth averaged 3.2 percent during the Reagan years. http://www.cato.org/publications/policy-analysis/supplyside-tax-cuts-truth-about-reagan-economic-record
I’m for Trump and not for Bush and the point here is for economic recovery, Trump needs to put more emphasis on tax cuts and abolishing minimum wage, useless, dead-end regulations, and union protection.
Fair, flat, fine. This tax code is like having a secret police.
Yup.
The point here is for economic recovery, Trump needs to put more emphasis on tax cuts and abolishing minimum wage, useless, dead-end regulations, and union protection.
Sounds just like one of obama’s plans, if you like you doctor you can keep your doctor and save $2,500 per year.
Steve Moore is a Club for Growth/Romney guy. I prefer Steve Forbes and Art Laffer.
Asking Jeb Bush for economic advice is like asking a circus clown for advice on...well, anything.
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