Whose Tax Plan Is Best For Millionaires?

Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.


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: ?

ONE MORE QUICK THING:

Or at least we hope. It’s fall fundraising time, and we’re trying to raise $250,000 to help fund Mother Jones’ journalism during a shorter than normal three-week push.

If you’re reading this, a fundraising pitch at the bottom of an article, you must find our team’s reporting valuable and we hope you’ll consider supporting it with a donation of any amount right now if you can.

It’s really that simple. But if you’d like to read a bit more, our membership lead, Brian Hiatt, has a post for you highlighting some of our newsroom's impressive, impactful work of late—including two big investigations in just one day and covering voting rights the way it needs to be done—that we hope you'll agree is worth supporting.

payment methods

ONE MORE QUICK THING:

Or at least we hope. It’s fall fundraising time, and we’re trying to raise $250,000 to help fund Mother Jones’ journalism during a shorter than normal three-week push.

If you’re reading this, a fundraising pitch at the bottom of an article, you must find our team’s reporting valuable and we hope you’ll consider supporting it with a donation of any amount right now if you can.

It’s really that simple. But if you’d like to read a bit more, our membership lead, Brian Hiatt, has a post for you highlighting some of our newsroom's impressive, impactful work of late—including two big investigations in just one day and covering voting rights the way it needs to be done—that we hope you’ll agree is worth supporting.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate