Republican Senator Introduces Yet Another Tax Plan to Benefit the Rich

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.


Dylan Matthews reports today that Sen. Mike Lee (R–Utah) has introduced a new tax plan. This is something that all the presidential candidates felt obligated to do back in 2012 as a way of signaling their fealty to the rich, but since there’s no election coming up anytime soon it’s not clear why Lee has decided to do this right now.

In any case, his plan reduces the number of tax brackets even though tax brackets have nothing at all to do with the complexity of the tax code. What it does do is give him an excuse to raise rates on the middle class and reduce rates on the rich. In addition, his plan leaves the current low capital gains rates and estate tax rates alone (good for the rich) and leaves the current high payroll taxes alone as well (bad for the poor). Put this all together, and the almost certain outcome is that the middle class would pay a little less; the upper middle class would pay somewhat more; and the rich would enjoy a big tax cut. In other words, it’s a pretty standard Republican plan.

I guess the good news is that it’s not quite as outrageously favorable toward the rich as all the plans that were released during campaign season. But aside from that, it’s hard to see what other merits this plan has.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate