At CNN’s town hall, Jeb Bush talked about growing small businesses, but his tax proposal is a big giveaway to Wall Street, with disproportionate boosts in after-tax income for top earners like the Kochs brothers. While Jeb has misleadingly claimed that the middle class would benefit most from his proposal with a $2,000 increase in after-tax income, that just isn’t true.
Here are the facts about Jeb’s plan:
- Middle-class Americans would get a 2.9 increase in after-tax income under Bush’s plan. But that cut is dwarfed by the top 1%’s 11.6% increase;
- Jeb would “save $3 million” under his own proposal;
- When called on his proposal’s disproportionate boosts for him and his Wall Street donors, Jeb simply said: “[T]hat’s just the way it is“; and,
- Jeb’s proposal has a big price tag: It would add $8.1 to the deficit.