Rubio’s Plan Is Up Next: PolitiFact Confirms Jeb Bush’s Tax Plan Favors The Wealthy

Jeb Bush got caught for saying what many of his fellow Republicans like Marco Rubio inaccurately tout about their tax plans: Working and middle class families gain the most.


In reality, the GOP field’s tax proposals still disproportionately boost the top 1% of income-earners.


Despite Marco Rubio’s claims to the contrary, under his tax plan, “the top 1 percent would, on average, get tax cuts more than 103 times larger than the poorest 20 percent would get,” according to Vox.


Rubio’s tax cuts give a substantially bigger handout to the wealthy, but Jeb’s proposal gives top income-earners a disproportionate boost, too: “[T]he wealthiest Americans stand to benefit more than the middle class, thanks to Bush’s proposed changes in corporate, estate and other taxes,” according to a new PolitiFact report.


Rubio, Bush, and the rest of the field’s primary objective is to pad the pockets of their billionaire Wall Street donors — they’re making that very […]

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Rubio Thinks “There Has To Be Oversight” — Just Not For Wall Street, Apparently

Last night, Marco Rubio, prolific opponent of Wall Street regulations, got worked up about wasteful and fraudulent USAID and Department of Defense spending. Adamant that “there has to be oversight,” Rubio also agreed with host Greta Van Susteren on going after perpetrators of fraud:


VAN SUSTEREN: I really think it’s come to the point where people are prosecuted for, you know, fraud — investigated, I should say…

RUBIO: Well, if there’s fraud, there’s no doubt about it…


Meanwhile, Marco Rubio, who just picked up another Wall Street backer in billionaire investor Paul Singer, has voted four times to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act. Rubio’s voted against increasing small-investor protections designed to prevent crowdfunding scams. And he’s voted for loosening public disclosure laws for small companies seeking investors.


Rubio’s taken hundreds of thousands from Wall Street investors — and he wants to eliminate taxes on investment income to make sure the money keeps coming.


Marco Rubio’s […]

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Team Rubio Concedes Study Exaggerates “Progressivity” Of His Tax Plan

For all Marco Rubio’s faux-outrage over his tax-policy debate confrontation with John Harwood, turns out Harwood was right after all. And Rubio’s campaign admits that the cited study actually exaggerates his plan’s progressivity.


Here are two big takeaways from a Vox breakdown of Rubio’s plan:


First of all, Harwood was right: The top 1% of income earners get a disproportionate increase in after-tax income, as compared with the middle class.


Secondly, Rubio’s own campaign admits that the Tax Foundation assessment Harwood cited is overly generous, due to flawed assumptions. In other words: Rubio’s tax plan would produce less of a boost for the bottom 10% of income-earners than the study suggests.


So here’s the upshot:


Rubio was correct that the Tax Foundation analysis showed lower income-earners get more of an income boost than do top income-earners, but Rubio’s own campaign admits the study exaggerates the extent.

Read more after the jump.

Rubio Was Wrong: Anti-Middle Class Tax Plan In Light Of Day

Marco Rubio couldn’t hide the truth about his regressive tax plan at last night’s debate. Unfortunately for Rubio, multiple analyses of his tax plan show the wealthiest one percent save more under his plan than middle income earners. Rubio’s sleight of hand doesn’t stand up to scrutiny in the light of day — John Harwood was right: Rubio is bad for middle-class Americans.

The one true thing Rubio said last night was when he admitted the wealthier are better off under his plan, saying, “If someone makes more money, numerically it’s going to be higher.”

Take a look at some of the ultimate Democratic super PAC’s (a.k.a the media’s) coverage of Rubio’s misleading comments:

Huffington Post: Flash and Fibs Were GOP Debate’s Big Winners

Rubio dodges a big question on his tax plan: This was in some ways the most important evasion of the night, because it’s an example of how deftly Rubio will […]

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Marco Rubio Admits His Tax Plan Favors Wealthy

Marco Rubio took time out of the Republican mudfight to remind voters that his tax plan overwhelmingly favors the wealthy. Rubio’s plan is so egregiously stacked against working families and tilts further toward the richest that Mitt Romney would’ve pay NO TAXES in 2011.

Rubio tonight: “If someone makes more money, numerically it’s going to be higher.”

Watch here:

Rubio Tax Giveaway To Wealthy
Plan Favors The Wealthy

PBS: Rubio Signed A Tax Proposal That “Would Slash Federal Tax Bills For Many Of The Wealthiest In The Country.” According to PBS, “Florida Sen. Rubio wrote a book in December outlining proposals to help low-income and middle-class families. In February he signed on to a sweeping tax proposal that does not cut top rates as much as Bush’s plan but does eliminate taxes on investment income. That would slash federal tax bills for many of the wealthiest in the country.” [PBS, 9/13/15]

Bloomberg On Rubio’s Plan: “Even the plan’s proponents […]

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The GOP Field’s Big-Donor-Friendly Tax Agenda That Favors The 1%

The tax plans Marco Rubio, Jeb Bush, Donald Trump, and the rest of the GOP field are shilling at tonight’s debate are proof of their primary allegiance to big money donors like the Koch brothers and the Wall Street interests bankrolling their campaigns.

Across the board, candidates are looking to slash corporate tax rates and dramatically reduce taxes on top income-earners — Marco Rubio would even go so far as to eliminate the capital gains tax, which is even more of a giveaway to the wealthy. In 2011, Mitt Romney would’ve paid NOTHING in taxes under Rubio’s plan. Jeb Bush likes to say his plan is “populist,” because it eliminates the carried interest loophole — but the top 1% of income earners would see a 11.6% bump in after-tax income under his plan — as compared with a 2.9% increase for the middle class. Bush would keep an extra $800,000 annually under his own plan.

It’s nothing we haven’t seen […]

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Marco Rubio’s Wall Street Recess

Marco Rubio is in New York this week making the rounds on Wall Street, but cozying up to hedge fund managers and big financiers isn’t new for him. Back during his 2010 campaign, Marco Rubio hauled in $117,000 from a single fundraiser hosted by hedge fund manager Paul Singer the same day Congress passed Dodd–Frank Wall Street Reform, according to the Tampa Bay Times.

In the intervening years, Marco Rubio’s proven his loyalty to Singer and Wall Street by voting four times to repeal Dodd-Frank.

There’s a reason hedge fund managers and financial industry executives were one of Rubio’s highest bank-rollers in 2010, and continue to fill that role today: Rubio will keep doing whatever it takes to line the pockets of his Wall Street backers at the expense of American working families.



Rubio & Wall Street


✓  Rubio said “I’m not anti-Wall Street,” and argued that millionaires should be treated “fairly.”

Read more after the jump.

Jeb Bush’s Energy Proposal Would “Significantly” Benefit Top Donors To His Super PAC

A new International Business Times analysis shows Jeb Bush’s energy proposal would “significantly” benefit top donors to his super PAC.

Jeb “Own Man” Bush, indeed.

Jeb isn’t his “own man” on energy policy, he isn’t his “own man” on foreign policy, and he isn’t his “own man” on tax policy — with a plan that would disproportionately benefit the top 1% of income earners, and increase his own after-tax income by $800,000.

International Business Times: Jeb Bush Energy Plan Most Benefits His Top Donors

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McCrory Tax Increase Is Another Broken Promise

Breaking another 2012 campaign promise, Governor Pat McCrory has announced his support for a budget that increases taxes on middle class North Carolinians. In a rush to end North Carolina’s protracted legislative session, the governor is putting politics ahead of North Carolina families. The budget will increase fees on car registration, sales taxes on maintenance for cars and home appliances, and fees for newborn screenings.

The North Carolina state chapter of the Koch brothers’ head political group, Americans for Prosperity (AFP), quickly released a statement of support:

“North Carolina is lucky to have leaders like Gov. McCrory who listen to concerned citizens and deliver measurable tax relief at home and in the private sector,” said State Director Donald Bryson.

“Gov. McCrory knows that lower taxes are good for all businesses, individuals, and families, who deserve fair and equal treatment under revenue laws.”

While the Kochs may be pleased with the big tax breaks McCrory has […]

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