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Monday, May 04, 2015

Just Say No to Rubio

Apparently Marco Rubio isn't so conservative after all. He wants to raise your taxes. From Jim Geraghty at National Review:

For example, he conceded that under the proposed Rubio-Lee tax plan, some people -- he estimated about 10 percent -- would face higher taxes, while reducing it for the rest.

For 2015, the top tax rate is 39.6 percent and kicks in for $413,200 for individuals, $464,850 for married couples.

Under Rubio’s plan, the top rate drops from 39 percent to 35 percent . . . but it kicks in at $75,000 for individuals, and $150,000 for married couples. There are a decent number of individuals making $75,000 and married couples making $150,000 who will be surprised to learn that they’re in the top tax bracket in the United States. Rubio points out that there are various little steps people can take to reduce their taxable income below that threshold -- put money in a retirement account or health savings account, etc., and Rubio-Lee also includes a $2,500-per-child tax credit, which will do a lot for the parents in that higher category. (The other tax rate under Rubio-Lee? Fifteen percent. Right now, the 15 percent tax rate only applies to single filers making $9,225 to $37,450 and married couples making $18,450 to $74,900.)

If you’re a married couple with a combined taxable income of, say, $140,000, currently playing the 25 percent rate, the Rubio tax plan is terrific! Your rate is dropping to 15 percent! But if you’re a married couple with a combined taxable income of, say, $160,000, currently paying a 28 percent rate . . . Rubio-Lee’s 35 percent rate doesn’t look good at all!


Most of the couples I know fall into that $150K - $250K bracket, including my wife and I. Marco my boy, you just sank yourself. I understand what you think you're doing -- betting on the numbers of voters to go down rather than up a bracket -- but you're forgetting one very important detail: It's those of us whose taxes you want to increase who contribute to Presidential campaigns. After spending eight years watching the Donks rifle through our pockets, we're disinclined to vote for anyone who is promising to continue the practice, let alone send them a campaign check. Bad choice, Mr Rubio.

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