CAMPAIGN SAYS MILLIONS OF MIDDLE CLASS FAMILIES WILL SEE BIG RELIEF
|| By FITSNEWS || In response to our questions/ criticisms, former Florida governor Jeb Bush‘s campaign has provided us with details of his “Reform and Growth Act of 2017” – a.k.a. his tax plan.
This is the proposal Bush claims will result in annual economic growth of greater than four percent each year of his administration (a level of economic expansion not seen in this country since 2000). Bush also claims his plan will create 19 million new jobs.
Do we believe either of these claims? Um, no.
But Bush has “top men” on his team, so …
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Bush’s proposal revolves around compacting the nation’s seven individual income tax brackets – which range from 10 percent to 39.7 percent – into three brackets (28 percent, 25 percent and 15 percent).
Here’s how those brackets would break down …
In addition to big tax cuts for upper-income Americans (and the expansion of tax breaks for lower-income earners), Bush says his compacted brackets will also provide relief to middle class taxpayers. Specifically, the campaign says “more than 42 million middle class families will get a 33 percent cut in their income tax rate.”
Also, Bush’s campaign claims that a family of four making less than $40,000 would pay no federal income tax whatsoever.
To view the documents Bush’s campaign provided us, click on the links below …
12 comments
And where are the spending cuts to balance the tax cuts?
All these proposals mean squat…the congress decides…not the Prez.
It would just end up being a shell game even if he got them to consider reducing the burden. If there’s one thing both Democrats & Republicans can get along on, it’s the overall spending…they only bicker on what to spend it on.
Bush proposes to eliminate Medicare and cut Social Security to pay for the tax cuts.
That sounds like a joke but it is a Republican wet dream. Most of their offers to “fix” those programs is just that, with the caveat of allowing current seniors to still milk the system. If they didn’t include that little piece they would get fewer votes than even Lindsey Graham.
Liar.Obama and the Democrats have to get rid of seniors to pay for the poor and illegals FREE Medicaid:
Last week, a new Congressional Budget Office (CBO) report updated the amount of money Obamacare robs out of Medicare from $500 billion to a whopping $716 billion between 2013 and 2022.
According to the CBO, the payment cuts in Medicare include:
A $260 billion payment cut for hospital services.
A $39 billion payment cut for skilled nursing services.
A $17 billion payment cut for hospice services.
A $66 billion payment cut for home health services.
A $33 billion payment cut for all other services.
A $156 billion cut in payment rates in Medicare Advantage (MA); $156 billion is before considering interactions with other provisions. The House Ways and Means Committee was able to include interactions with other provisions, estimating the cuts to MA to be even higher, coming in at $308 billion.
$56 billion in cuts for disproportionate share hospital (DSH) payments.* DSH payments go to hospitals that serve a large number of low-income patients.
$114 billion in other provisions pertaining to Medicare, Medicaid, and CHIP* (does not include coverage-related provisions).
http://dailysignal.com/2012/08/01/obamacare-robs-medicare-of-716-billion-to-fund-itself/
Seniors already figured out OBAMACARE was used to steal money from Medicare and expand MEDICAID in states for Democrat votes.
We are also aware of the Death Panels.
So now it is OK to not pay any federal income tax? What happened to the 47% freeloaders touted about in 2012?
“Also, Bush’s campaign claims that a family of four making less than $40,000 would pay no federal income tax whatsoever.”
I’ve thought part of our debt problem was not letting the Bush tax cuts sunset and the GOP solution was to cut spending. Well the debt is larger and NEITHER party is going to cut spending where it is needed – the seniors would revolt if you changed their Medicare and SS benefits. The GOP wants to play War God and increase defense spending. So what is the solution? Cutting more taxes? Pfft.
I don’t pay any federal income tax. If anything the federal government pays me! Thanks taxpayers! LMAO!!! LMAO!!!
Also, Bush’s campaign claims that a family of four making less than $40,000 would pay no federal income tax whatsoever.
Ummm….a family of four making less than $40,000 (Mom, Dad, 2 children under 18) have no net federal income tax liability now.
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For an analysis of Jeb!s “plan” from a non-Libertarian perspective: https://www.washingtonpost.com/posteverything/wp/2015/09/09/jeb-bushs-new-tax-plan-a-revenue-eating-wolf-in-sheeps-clothing/
So just a guess here, but Bush proposes to increase the deficit by about $300 billion a year with the tax plan, and add $200 billion in defense spending, and knows Congress won’t touch entitlements and he’ll probably ask for an additional $150 billion in education spending, so doesn’t that take us back to $1 trillion deficits? Even if this plan did add say 8 million jobs over four years, that would still leave us with $500 billion in deficits. And let’s remember, the biggest fall in our most recent deficits is the $500 billion the Treasury receives for ownership of FNMA and FHLMC. So I guess we’re not going to give up our ownership of those.