Heh.
Not that Jeb! necessarily needs more money—but hey, if you're gonna float a new tax plan, why not make a killing off it? Philip Elliott
reports on Jeb!'s potential boon:
Economists at the liberal Center for American Progress Action Fund reviewed Bush’s 2013 tax returns, his most recent ones available, and found that his federal tax liability would have been $773,677 less in that year. It’s a staggering sum but reflective of Bush’s overall plan to dramatically cut taxes across the board in the hopes that Americans would use their newfound pocket change to buy more goods and grow the economy. [...]
The math clearly benefits Bush, who reported an adjusted gross income of almost $7.3 million in 2013. He would seriously benefit if the top tax rate was reduced to 28% from the current 39.6%. In his net income, he reported $730,898 of taxable interest, long-term capital gains and dividends that qualify for reduced tax rates. Under Bush’s plan, this income would be taxed at 20%.
Bush's tax plan would also eliminate all income taxes for families making $38,600 or less and reduce taxes for millions more. But the benefits of his plan are exponentially higher for America's richest—the top 1 percent gain the most and the top 10 percent would be the second biggest winners,
reports the
Wall Street Journal. So while some families will be able to afford an extra meal out or maybe just another PB&J for the week, others can add another million-dollar home to their list of assets.
Not to mention the boost that all those tax cuts promise to give our national debt.
Jeb! "the policy wonk" triumphs again.