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Wednesday, December 09, 2015

'Pandering to Plutocrats'

Throw the middle class a bone to get their vote, then take even more away later.

The Tax Policy Center analyzed Jeb Bush's tax plan. Paul Krugman reacts:

Pandering to Plutocrats: ...Most of the headlines I’ve seen focus on the amazing price tag: $6.8 trillion of unfunded tax cuts in the first decade. But it’s also important to realize the extent to which this is tax-cutting on the rich, by the rich, for the rich. Here’s the change in after-tax income resulting from the plan:

Huge benefits for the super-elite. And if you are tempted to say that the middle class gets at least some tax cut, remember that the budget hole would force sharp cuts in spending..., this means sharp cuts in programs that benefit ordinary Americans, probably swamping any tax cuts.
So, huge tax cuts that would massively increase debt, with the benefits going to the very highest-income Americans. And this is the “responsible”, moderate candidate.

    Posted by on Wednesday, December 9, 2015 at 12:39 PM Permalink  Comments (37)


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