Difference between revisions of "Marco Rubio (Tax Reform)"
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[[Marco Rubio|Rubio's]] [[Tax Reform]] [[Marco Rubio (Tax Reform)| (section page)]] | [[Marco Rubio|Rubio's]] [[Tax Reform]] [[Marco Rubio (Tax Reform)| (section page)]] | ||
| − | *A Pro-Growth, Pro-Family Tax plan | + | *A Pro-Growth, Pro-Family Tax plan [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
| − | **Simplify the tax code to reduce the number of brackets from seven to three (MRWTR) | + | **Simplify the tax code to reduce the number of brackets from seven to three [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
**Unorthodoxically wants to keep the tax rate ~35% for the top household income earners (Politico) | **Unorthodoxically wants to keep the tax rate ~35% for the top household income earners (Politico) | ||
**Rubio plans to get rid of the tax burdens on dual earning married couples | **Rubio plans to get rid of the tax burdens on dual earning married couples | ||
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**Eliminates all itemized deductions and tax “extenders” | **Eliminates all itemized deductions and tax “extenders” | ||
**Charitable contribution deduction and mortgage interest deduction available for all | **Charitable contribution deduction and mortgage interest deduction available for all | ||
| − | **Implements a single $2500 universal tax incentive for post secondary education or job skill training under the 400-500% threshold of the federal party line (MRWTR) | + | **Implements a single $2500 universal tax incentive for post secondary education or job skill training under the 400-500% threshold of the federal party line [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
*Businesses and Corporations | *Businesses and Corporations | ||
| − | **Marco Wants to cut taxes for small business to 25% down from the current tax rate of 35% | + | **Marco Wants to cut taxes for small business to 25% down from the current tax rate of 35% [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
| − | **Wants to implement a tax credit to any business offering between four and twelve weeks of paid family leave | + | **Wants to implement a tax credit to any business offering between four and twelve weeks of paid family leave [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
| − | **Rubio’s plan aims to allow for immediate expensing of capital expenditures | + | **Rubio’s plan aims to allow for immediate expensing of capital expenditures [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
| − | **Wants to reduce the double taxation of corporations doing business overseas | + | **Wants to reduce the double taxation of corporations doing business overseas [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
| − | **Aims to eliminate the federal estate tax that penalizes family owned farms and businesses | + | **Aims to eliminate the federal estate tax that penalizes family owned farms and businesses [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
| − | **Interest income would not be taxable (MRWTR) | + | **Interest income would not be taxable [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
| − | **Provides a transition period, which requires a one-time booking of investment at current law capital gains and dividend rates, minus the 3.8% investment tax hike from ObamaCare | + | **Provides a transition period, which requires a one-time booking of investment at current law capital gains and dividend rates, minus the 3.8% investment tax hike from ObamaCare [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)] |
Revision as of 16:20, 27 January 2016
Rubio's Tax Reform (section page)
- A Pro-Growth, Pro-Family Tax plan (MRWTR)
- Simplify the tax code to reduce the number of brackets from seven to three (MRWTR)
- Unorthodoxically wants to keep the tax rate ~35% for the top household income earners (Politico)
- Rubio plans to get rid of the tax burdens on dual earning married couples
- Wants to repeal ObamaCare and all associated $1 trillion in taxes
- Wants to create a partially refundable Child Tax credit of up to $2500 per child that phases out above an individual income of 150k and a joint income of 300k
- Eliminates all itemized deductions and tax “extenders”
- Charitable contribution deduction and mortgage interest deduction available for all
- Implements a single $2500 universal tax incentive for post secondary education or job skill training under the 400-500% threshold of the federal party line (MRWTR)
- Businesses and Corporations
- Marco Wants to cut taxes for small business to 25% down from the current tax rate of 35% (MRWTR)
- Wants to implement a tax credit to any business offering between four and twelve weeks of paid family leave (MRWTR)
- Rubio’s plan aims to allow for immediate expensing of capital expenditures (MRWTR)
- Wants to reduce the double taxation of corporations doing business overseas (MRWTR)
- Aims to eliminate the federal estate tax that penalizes family owned farms and businesses (MRWTR)
- Interest income would not be taxable (MRWTR)
- Provides a transition period, which requires a one-time booking of investment at current law capital gains and dividend rates, minus the 3.8% investment tax hike from ObamaCare (MRWTR)
