Whose Tax Plan Is Best For Millionaires?

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So here’s where we stand. Marco Rubio has a tax plan with a top rate of 35 percent that promises to boost our economic growth rate to 3.5 percent per year. Jeb Bush then came out with his plan, which has a top rate of 28 percent and a growth rate of 4 percent per year. Then Donald Trump announced his plan, which has a top rate of 25 percent and a growth rate of 6 percent per year.

Who’s next? Carly? I advise her to announce a plan that has a top rate of 20 percent and promises growth of 8 percent per year. Ridiculous? Sure, but who’s going to call her on it? I mean, what’s Bush going to do? Get into an argument about whose supply-side growth assumptions are the most out of touch with reality?

Besides, she has to compete with Ben Carson, who doesn’t have an official tax plan but has vaguely said he likes the idea of a flat 10 percent tax based on the Biblical practice of tithing—though he’s been a little wobbly on whether his tax rate would really be exactly 10 percent. I guess even God can be improved on.

In case you’re curious, here are the top tax rates on the rich from each of the leading candidates. The most dynamic defenders of free enterprise are at the top, while the losers are at the bottom:

  • Carson: 10-15 percent
  • Paul: 14.5 percent
  • Huckabee: ~17 percent (23 percent FairTax that eliminates the payroll tax)
  • Trump: 25 percent
  • Bush: 28 percent
  • Christie: 28 percent
  • Rubio: 35 percent
  • Fiorina: ?
  • Cruz: ?

SIX TRUTHS

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Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

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Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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