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===
**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 [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)]
**Wants to repeal ObamaCare and all associated $1 trillion in taxes
+
*Wants to repeal ObamaCare and all associated $1 trillion in taxes [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)]
**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
+
*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 [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)]
**Eliminates all itemized deductions and tax “extenders”  
+
*Eliminates all itemized deductions and tax “extenders” [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (MRWTR)]
**Charitable contribution deduction and mortgage interest deduction available for all
+
*Charitable contribution deduction and mortgage interest deduction available for all [https://marcorubio.com/2015/10/01/rubio-tax-plan/ (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 (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)]

Latest revision as of 15:43, 29 January 2016

Rubio's Tax Reform (section page)

A Pro-Growth, Pro-Family Tax plan

  • 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 (MRWTR)
  • Wants to repeal ObamaCare and all associated $1 trillion in taxes (MRWTR)
  • 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 (MRWTR)
  • Eliminates all itemized deductions and tax “extenders” (MRWTR)
  • Charitable contribution deduction and mortgage interest deduction available for all (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 (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)