Tax reform that would cut rates and unleash business investment.
“Mr. Bush will have to sell his plan in the crowded GOP field, but perhaps his policy seriousness will steer Republicans away from this summer’s sloganeering and toward a debate about what really would make America great again.”
Conventional politics says presidential candidates should keep their tax reform plans gauzy and nonspecific. So much for that. Jeb Bush on Wednesday rolled out a tax plan that is remarkably detailed, including the tax deductions he’d eliminate in return for cutting rates to spur faster economic growth.
The former Florida Governor has made reviving growth and raising wages his main policy goals, and the tax plan is his first down payment on getting there. These are the right goals given six years of tepid growth and median household income that is still lower than when the expansion began in 2009. Faster growth than 2% a year is crucial to solving every other problem—from drawing more Americans back into the workforce, to reducing poverty, to financing U.S. defenses against growing global threats.