Pawlenty's Plan: More Than $1 Million in Tax Breaks for the Very Richest

Modern Republican tax policy is magical enough outside of election season. Election promises are unrealistic enough even when they have nothing to do with modern Republican tax policy. But when you combine modern Republican tax policy with election season promises, you wind up with some real humdingers.

Take Tim Pawlenty's new economic plan. The Center on Budget and Policy Priorities ran the numbers on his tax reform ideas, which cut rates for individual income taxes, shave some expenditures, and eliminate taxes on capital gains and dividends. This is what happens.

 


Ezra Klein says Pawlenty makes Bush look like Robin Hood. T-Paw's plan would also make Obama deficits look like Chinese surpluses. A 40% tax cut for the top 0.1% amounts to a $1 to $2 million bonus for the richest 160,000 families at the same time his party says we can't afford another dollar for new infrastructure. But who's surprised? Electionomics is the mortal nemesis of all reasonable ideas.
Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

Why Principals Matter

Nadia Lopez didn't think anybody cared about her middle school. Then Humans of New York told her story to the Internet—and everything changed.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register with Disqus.

Please note that The Atlantic's account system is separate from our commenting system. To log in or register with The Atlantic, use the Sign In button at the top of every page.

blog comments powered by Disqus

Video

A History of Contraception

In the 16th century, men used linen condoms laced shut with ribbons.

Video

'A Music That Has No End'

In Spain, a flamenco guitarist hustles to make a modest living.

Video

What Fifty Shades Left Out

A straightforward guide to BDSM

More in Business

Just In