Posts Tagged ‘OpenSecrets.org’

Tax deductions and magical thinking: When smart policy makes for unpopular politics

October 10, 2015

By Matthew E. Milliken
MEMwrites.wordpress.com
Oct. 10, 2015

Republican tax plans all seem to have something in common — something besides lowering the top individual and corporate income-tax rates, that is. See if you can spot it.

Real estate mogul and reality TV host Donald Trump’s tax plan aims to lower taxes and to simplify the tax code. Trump’s proposal claims that its “tax cuts are fully paid for by:”

1. Reducing or eliminating most deductions and loopholes available to the very rich.…

3. Reducing or eliminating corporate loopholes that cater to special interests, as well as deductions made unnecessary or redundant by the new lower tax rate on corporations and business income…

Former Florida Gov. Jeb Bush’s tax proposal would:

• Simplify the tax code for all Americans to lessen the power of the IRS and increase both prosperity and fairness.

• Reduce loopholes and special tax provisions created by lobbyists that invariably benefit those at the top.

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