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News Wednesday, Feb 17 2016

Rubio Looks To Increase Deficit With $6.8 Trillion, Big Donor-Friendly Tax Plan

Feb 17, 2016

Like Ted Cruz, Donald Trump, Jeb Bush — pretty much every other Republican candidate — Marco Rubio is promoting a tax plan with a multi-trillion dollar price tag — $6.8 trillion, to be specific.

And like the rest, Rubio also wants to give a massively disproportionate boost in after-tax income to the wealthy few. There’s a reason Wall Street billionaires and hedge fund managers are backing his candidacy. And that’s why Koch network donors are seemingly getting serious about throwing some money his way. Here’s more, from the New York Times’s Josh Barro:

[Rubio’s] new plan would raise incomes for the top one-thousandth of taxpayers by 8.9 percent — that is, an average tax cut of more than $900,000 per year — because of its sharp cuts in tax rates on business income and capital income.

Read more from The New York Times.

Published: Feb 17, 2016

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