As much as Jeb Bush likes to proclaim that he’s his own man, not beholden to the policies (and endless mistakes) made by his father and brother when they were in the White House, a look at the so-called economic growth plan he’s now pitching makes it perfectly clear that Jeb 2016 is just more of the same.
The Jeb Plan goes like this: the top income tax rate would go from the current 40 percent to 28. The corporate rate is slashed from 35 percent to 20 percent. Foreign profits would no longer be taxed when repatriated back here, a huge windfall for businesses that produce their products with underpaid workers in other countries and then bring their profits back into the United States. And the estate tax, paid mostly by the wealthy? Bush’s plan eliminates it entirely.
There is a smattering of bread crumbs to the working poor in the Jeb Plan: an expansion of the Earned Income Tax Credit (EITC), but who among us truly believes that will make up for the refusal of GOP greed merchants such as Jeb Bush who say they don’t see the wisdom of raising the minimum wage? Matter of fact, Bush has said there should be no minimum wage!
How would the Bush team pay for these top-heavy regressive tax cuts, which are nothing more than yet another sop to the super rich? Well, they don’t. (Surprise!) No doubt they will prattle on about how the wealthy will spend more and this will stimulate economic activity which means more jobs will be created. It’s the same old trickle down bullshit we’ve heard since the days of Ronald Reagan. It has never worked. It will never work. The rich do not shower the masses with jobs and money as they get richer.
Jebonomics would lead us into the same worldwide economic calamity which nearly tanked the American economy under Jeb’s big bro, Dubya. It has taken this country nearly seven years to pull out of the death spiral the last Bush set into motion. Yet Jeb Bush offers more of the same.
The reason Jeb Bush will never be President has nothing to do with Donald Trump. It has nothing to do with “low energy.” It has everything to do with trying to recycle the failed policies of the past that are only designed to make the rich even richer.
This article was originally published by the same author at LiberalAmerica.org.