Marco Rubio’s Puppies-and-Rainbows Tax Plan
Since Oprah is a real person with no actual involvement in this proposal, it’s better to describe the Rubio-Lee proposal as the Puppies and Rainbows Tax Plan. After all, it’s full of things everybody likes, at least on the Republican side: family tax cuts that will make it easier to buy the children a puppy, and capital tax cuts that chase a pot of capital investment gold at the end of the rainbow.
.. Even if those preventive measures work, they will still highlight a central feature of the Rubio-Lee plan: It aims to treat business income more favorably than labor income, while most families derive most of their income from labor, not business.