POLITICS

The Math On Rubionomics Is Way, Way Crazier Than You Think

Last week, Citizens for Tax Justice, a liberal think tank that uses mainstream economic tax modeling, analyzed Marco Rubio’s tax-cut plan. Thirty-four percent of the benefits of the plan would go to the highest-earning one percent of Americans (who, by the way, earn about 21 percent of all income). Rubio’s proposal deliberately provides some benefits to Americans of modest income, which means that its enormous tax cuts for the very rich come alongside some pretty decent-size tax cuts for the rest of us. All told, Rubio’s plan would reduce federal revenue by $11.8 trillion over the next decade. The entire Bush tax cuts cost about $3.4 trillion over a decade, making the Rubio tax cuts more than three times as costly.

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