Jeb Bush announced a “new” tax plan as part of his presidential platform. According to tax experts, however, his tax plan echoes the tax plan that his brother implemented that only benefited the top one percent.
The Citizens for Tax Justice found that 53 percent of Bush’s tax cuts would go directly to the top one percent. The poorest 20 percent would receive, on average, a $227 annual cut. The richest one percent, on the other hand, would receive a staggering cut of $82,392. George W. did the same thing for the wealthy and corporations. The result was thousands of jobs getting sent overseas.
During a speech in North Carolina, Bush said his “plan will help those who live on their paychecks, who haven’t seen a raise in a while.” That’s a lofty promise for someone who’s funded mostly by conservative groups and big money donors. Like others in the Republican party, Bush invoked Ronald Reagan when he announced his tax plan.
“At 28 percent, the highest tax bracket would return to where it was when President Ronald Reagan signed into law his monumental and successful tax reform,” he said.
Bush’s tax policy mirrors the failed tax policies of Reagan and George W. Bush. More money for the wealthy, less for everyone else, and income inequality worsens.