ii iv viii	Merry Christmas and Happy New Year NEW - In 2016 the 2-4-8 Tax Blend will become 2-4-8 Tax Choice The "choice" would allow all taxpayers to choose an income tax rate between 8% and 28% paired with a net wealth tax rate of 2% going down to zero. Wealth taxes paid would reduce Estate and Gift taxes (also set at 28%). This would encourage wealthy individuals to pay some net wealth taxes as a form of inexpensive life insurance.	Wealth 0% 0.5% 1% 1.5% 2%	Income 28% 23% 18% 13% 8%
		Business C - Corp	4% VAT 8% Income

Think Progress, June 2, 2012

Norquist: Jeb Bush Insulted Mitt Romney By Abandoning Anti-Tax Pledge

by Igor Volsky

... Bush “kind of stepped in it a little bit” when he told the House Budget Committee that signing Norquist’s pledge to never raise taxes is tantamount to “outsourc[ing] your principles and convictions to people.” Norquist claimed that Bush had insulted Mitt Romney by abandoning the pledge:

NORQUIST: [Bush] went on to kind of insult Governor Romney because Governor Romney has made a written commitment to the American people said, ‘when I get to Washington I’m not going to raise taxes.

2-4-8 Response:

Does the No-Tax Pledge apply to tax reform?

The tax pledge does not apply to real tax reform and was intended only to “starve the beast” until congress could figure out a way to balance the budget and start paying for the $15 trillion in debt. No Republican or Democrat thinks that the members of congress have taken a pledge not to pay back our nation’s debt which will obviously require more government revenue and more taxes for some. The middle class supported businesses with trillions of dollars when they needed our help and business owners and investors may need to help the middle class if the economy fails to grow on its own.

The tax pledge would not prevent lowering the corporate income tax rate to 8% and imposing a 4% VAT on business.

The tax pledge would not prevent lowering the individual income tax rate to 8% and imposing a 2% net wealth tax on individuals.

For more information see www.TaxNetWealth.com.

Eugene Patrick Devany, JD, MPA

 

Jeb Bush from Think Progress
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Copyright 1985 to 2015 by Eugene Patrick Devany