By Igor Volsky and Victoria Fleischer
Jeb Bush wants to bake you a pie, America! He’s putting his own twist on his brother’s recipe for fluffy tax cut pie! So pre-heat your oven to 350 degrees and follow along as we mix in “lower taxes,” “investment income tax cuts,” and the “Earned Income Tax Credit expansion!” Watch the video above to find out which Americans will get the biggest slice!
Transcript:
IGOR VOLSKY, ThinkProgress: Jeb Bush wants to bake you a pie, America! He’s putting his own twist on his brother’s classic tax cut pie. Pre-heat your oven to 350 degrees and follow along.
First, you need a cup and a half of Lower Taxes on the Top Brackets. Mix in 3 tablespoons of Tax Cuts on Investment Income. Crack in one tablespoon of Earned Income Tax Credit and add a pinch of Standard Deduction Expansion. Pour the entire mixture into 9 inch pie shell and bake for 45 minutes.
[beep]
Mmm, Tax cuts! Let’s cut this baby up.
The top 1% of Americans — whose incomes average over $1.7 million — get more than half of the pie. And everybody else? Well, they get a little sliver.
And that’s not all! This special Bush recipe calls for lowering the corporate tax rates from 35% to 20% — which mostly benefits those at the top. And, it eliminates the estate tax, paid by only the wealthiest families.
Bush’s bite of tax cut pie will be nearly $800,000 in higher after tax income. How big will your bite be?