Jeb Bush Tax Plan
How is Jeb Bush (and, for that matter, other leading Repubs e.g. Rubio) trying to propose removing the deductibility of interest from taxable income? Wouldn't this cripple the debt capital markets/make financing corporate expansion significantly more expensive? Furthermore, how does the idea of immediately expensing the entirety of capital project spending hold water if debt isn't an attractive option to finance the project in the first place?
@NorthSider" would be awesome if you weighed in.
Could you be more specific? I'm a close observer of this stuff and a Rubio (and Kasich) supporter, and I haven't heard of anything like this. Do you mean mortgage interest for individuals or debt interest businesses pay?
EDIT: so I looked up Bush's tax proposal. I don't hate it, but I'm not a huge fan (it's kind of how I feel about Rubio's tax plan, although I'm a huge fan of Rubio). There are way too many moving parts to it. But I think you are talking about his plan to tax carried interest and to reduce itemized deductions for individuals, correct?
I do love his proposal to slash the corporate income tax to 20%.
My strong preference is for tax reform to look like this:
Do smart people make things more simple or more complicated?
Here's a clue...no politician ever will knowingly attempt to simplify the tax code and/or lower taxes.
Also, it's Jeb...there's like a 5% chance of him being elected, and a 1% chance of him doing anything he says at all if he is. So overall, I don't believe it's worth paying attention to any of the carefully-crafted and highly-consulted words that fall out of the front of his face.
Crippling the debt markets is exactly what Forbes just wrote would happen: http://www.forbes.com/sites/timworstall/2015/09/09/the-bombshell-in-jeb…
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