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Thursday, September 10, 2015

Jeb Brings Back his Brother's Tax Cut's for the Rich

Meet the new Bush. Same as the old Bush. While it's great the way the White House used Dick Cheney's opposition to the Iran deal to get it over the finish line

http://lastmenandovermen.blogspot.com/2015/09/dick-cheney-dont-know-much-about.html

it ought to also be reflected on that 19 of the 21 advisers to W and their father are also advising Jeb-including the King of the Neocons. Paul Wolfowitz.

http://www.theguardian.com/us-news/2015/jul/19/jeb-bush-foreign-policy-advisers-iran

He also cited his brother his 'top foreign policy adviser.'

http://www.cnn.com/2015/05/07/politics/jeb-george-w-bush-adviser/

So if you miss W's foreign policy you know who to vote for.

Now Scott Sumner loves Jeb's tax plan from which we can infer he loved W's tax plan.

http://lastmenandovermen.blogspot.com/2015/09/scott-sumner-praises-jebs-tax-plan-rips.html

So it's just W's tax plan-accept it goes further than he did. Basically it does two big things.

1. It cuts taxes deeply for the rich.

https://www.washingtonpost.com/blogs/plum-line/wp/2015/09/09/jeb-bushs-tax-plan-shows-republicans-cant-learn-from-economic-history/

It has a few sops for the nonrich-as W's tax cuts did-but the rich are the big beneficiaries. It eliminates the AMT and the inheritance tax, lowers the top rate to 28%-considerably lower than even his brother's 35% top rate-and cuts the corporate tax rate to 20%.

2. Of course by consequence of 1 it explodes the deficit.

http://www.washingtonpost.com/business/economy/jeb-bushs-new-tax-plan-could-cost-34-trillion-over-next-decade/2015/09/09/f3a8fffc-5741-11e5-b8c9-944725fcd3b9_story.html

Indeed, it costs more than double W's initial tax cuts at $3.4 trillion. So Jeb also hasn't learnt from Kansas' huge tax cuts either.

http://talkingpointsmemo.com/news/sam-brownback-kansas-sales-tax-hike-budget

After Brownback's huge tax cuts for the rich left Kansas with a huge budget shortfall, he then raised consumption taxes-which is a big tax hike on the poor.

Maybe Jeb can even totally complete the retro W moment by channeling Cheney's 'Reagan proved deficits don't matter' moment.

http://crooksandliars.com/jon-perr/reagan-proved-deficits-dont-matter


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