Sponsored Content
« Obama Submits $4 Trillion Budget, Says He "Won't Accept" Budget That Doesn't Raise Spending | Main | Rand Goes Full Paul on Vaccines »
February 02, 2015

NRO: The Mike Lee/Marco Rubio Tax Plan Jacks Taxes Up In Order to Bribe Families With Large Child Tax Credits

The child tax credit may be nice, but it's expensive, and Rubio and Lee have a not-very-Republican way of paying for it: jacking up income tax rates.

The top rate, they would lower, but only down to 35% from the current 40%. But that's not the worrisome part. The worrisome part is at the very low level of income at which people may be forced to start paying this tippy-top marginal tax rate, based on Lee's prior proposed tax schemes:

The Rubio-Lee mystery isn’t easy to solve because the full tax plan isn’t available yet. And the mystery only deepens when you scrutinize the numbers in a previous version of the plan, the one Senator Lee put forward as legislation in 2014 ("The Family Fairness and Opportunity Tax Reform Act"). That plan would have the troublingly high rate of 35 percent kick in at $87,850 in taxable income for singles and $175,700 for married couples. Currently the 35 percent threshold is crossed only when a couple has taxable income of $405,100. In other words, Lee and Rubio may be thinking of putting a successful single nurse in the top income-tax bracket.

They would also cap the mortgage-deduction to mortgages of $300,000 or less.

This debate gets at a serious schism in the party. Many thoughtful Republicans say that the GOP has nothing to offer downscale voters, economically, and often call for increased child tax credits as a bit of a GOP subsidy to such people.

The trouble is, as this NRO notes, you can never outbid the Democrats when it comes to showering Other People's Money on voters.

And furthermore, while it's certainly part of the conservative agenda to be "family friendly," it's also a major part of the conservative agenda that we do not redistribute money. And make no mistake, this is a redistribution-of-wealth tax plan, though money will be redistributed evenly between Obama voters and non-Obama voters, unlike the typical Obama redistribution scheme consisting of redistributing money only to his constituents.

I dunno. This is a major philosophical debate here. I think I'm against large cash gifts from the government to the citizens, even if the citizens in question represent what are ideologically taken to be worthy recipients of such largesse.

digg this
posted by Ace at 04:11 PM

| Access Comments

Recent Comments
San Franpsycho: "Good evening morons and thanks wd for all the meme ..."

Dr. T: "This post seems contemptuous toward the brave men ..."

BignJames: "Might I suggest that, one night the ONT should fea ..."

Archimedes: "Not only was the Titanic a dinghy compared to the ..."

zombie Kapitänleutnant Walther Schwieger: "My, such fat, juicy targets! ..."

Walter Freeman: "[I]@12: "... only comment section more Maoist than ..."

jewells45 fuck cancer: "Hi nurse! Hanging in there! ..."

nurse ratched : "Jewells! Hi there sweetheart! How are you? ..."

Tonypete: "Might I suggest that, one night the ONT should fea ..."

Taq, Rickrolled by Jesus: "Thanks WD. Imma read the content but first... ..."

mindful webworker - reading between the lines: "… Was trying to come up with a greeting, ..."

jewells45 fuck cancer: "Good evening! ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64