--- title: Jeb Bush's Tax Plan Would Save Him More Than $700,000 description: The former Florida Governor's plan to simply the tax code and reduce tax rates on Americans would leave extra change in his pockets, too. canonical: https://time.com/4030664/jeb-bush-tax-plan/ author: Philip Elliott article:opinion: false article:content_tier: free article:published_time: 2015-09-11T10:00:23.000Z article:modified_time: 2026-08-19T07:41:48.659Z article:section: Politics og:title: Jeb Bush Would Save $773,000 Under His New Tax Plan og:description: Liberal economists looked at the Republican's tax returns if his plans were law. og:url: https://time.com/4030664/jeb-bush-tax-plan/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltd97544f71fd8e457/69886333a988cabefc6b44a7/jeb-bush-tax-reform.jpg?branch=production&width=594&quality=75&auto=webp&crop=16:9 og:image:width: 594 og:image:height: 334 og:image:alt: Jeb Bush, former Governor of Florida and 2016 presidential election candidate, in an interview on September 9, 2015. og:type: article twitter:card: summary_large_image twitter:title: Jeb Bush Would Save $773,000 Under His New Tax Plan twitter:description: Liberal economists looked at the Republican's tax returns if his plans were law. twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltd97544f71fd8e457/69886333a988cabefc6b44a7/jeb-bush-tax-reform.jpg?branch=production&width=594&quality=75&auto=webp&crop=16:9 ---  # Jeb Bush Would Save $773,000 Under His New Tax Plan > Sponsored content. 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Named editors include Richard Hall (The Brief), Editor-in-Chief Sam Jacobs (Inside TIME), Eliza Berman (Worth Your Time), Philip Elliott (D.C. Brief), Justin Worland (Future Proof) and Harry Booth (In the Loop). Health Matters is written by TIME's health desk. #### How do I sign up for a TIME newsletter? Go to time.com/newsletters, choose the newsletters you want and enter your email address. There is no cost and no subscription requirement. ### Sources * TIME Newsletters: [time.com/newsletters](/c/time-nl-network-2026q3/newsletters?i=2639ab5b-1361-409c-a609-061e1cd01a07&cr=time-nl-network-2026q3-v1) ## Video: See Jeb Bush's Political Career Through the Years [Watch (HLS stream): See Jeb Bush's Political Career Through the Years](https://cdn.jwplayer.com/manifests/3nRIB78f.m3u8) (2:37)  _Published 2015-06-12. From his unsuccessful gubernatorial campaign in 1994 through his decision to seek the Republican presidential nomination in 2016, here are some of the top moments from Jeb Bush's political career._  by [Philip Elliott/ New York](https://time.com/author/philip-elliott/)  ## Philip Elliott/ New York Senior Correspondent Sep 11, 2015 10:00 AM UTC  Jeb Bush, former Governor of Florida and 2016 presidential election candidate, in an interview on September 9, 2015. Jeb Bush, former Governor of Florida and 2016 presidential election candidate, in an interview on September 9, 2015. CNBC—NBCU Photo Bank via Getty Images  by [Philip Elliott/ New York](https://time.com/author/philip-elliott/)  ## Philip Elliott/ New York Senior Correspondent Sep 11, 2015 10:00 AM UTC The aggressive tax-cutting proposal former Florida Gov. Jeb Bush outlined this week would eliminate all federal income taxes on families making $38,600 or less, and another 42 million families would see their bills on Tax Day cut by one-third. Another winner in the Republican White House hopeful’s plan? Bush himself. Economists at the liberal Center for American Progress Action Fund reviewed Bush’s 2013 tax returns, his most recent ones available, and found that his federal tax liability would have been $773,677 less in that year. It’s a staggering sum but reflective of Bush’s overall plan to dramatically cut taxes across the board in the hopes that Americans would use their newfound pocket change to buy more goods and grow the economy. “As George W. Bush promised in his sales pitch for tax cuts, Jeb Bush promises that all will benefit from huge economic growth from his agenda,” CAP’s director for fiscal policy Harry Stein writes in an analysis that will be released Friday and obtained first by TIME. “But we already know how things turned out after the first Bush tax cuts: federal budget surpluses turned into massive deficits and instead of widespread economic growth we got the Great Recession.” But Jeb Bush’s plan isn’t exactly like his brother’s effort. It actually goes further in terms of simplifying the tax code and repealing popular deductions. The math clearly benefits Bush, who reported an adjusted gross income of almost $7.3 million in 2013\. He would seriously benefit if the top tax rate was reduced to 28% from the current 39.6%. In his net income, he reported $730,898 of taxable interest, long-term capital gains and dividends that qualify for reduced tax rates. Under Bush’s plan, this income would be taxed at 20%. Elsewhere on the tax returns, he would save $33,000 if he can repeal one of the Affordable Care Act taxes on investment income. If he were able to repeal another Obamacare tax on wages, he would save another almost $50,000\. Repealing Obamacare, for Bush, would have saved him $82,901 on his 2013 taxes. Stein acknowledges that these are estimates based on what Bush has announced. Some of the details in his plan are vague, and it’s not clear how Bush would address some of the trickier pieces of the tax code. But it’s a clear example of how high-wage earners would benefit from the tax plan the most. “Even the conservative analysts at the Tax Foundation acknowledge that the top 1% get the most benefit from Jeb Bush’s plan—and that assumes that the plan causes massive and widespread economic growth,” Stein writes. “At a time when middle-class programs like Social Security and Medicare will need more revenue over the long-term to meet the needs of an aging population, this plan is simply not sustainable for the nation.” Bush’s campaign disputed the math and said Bush—and all Americans—pay too much in taxes. “Under the Obama/ Hillary/ DNC tax plan, Governor Bush pays 40% of his income to an incompetent federal government,” spokeswoman Allie Brandenburger tells TIME. “Hillary Clinton thinks Americans should pay even more taxes. Governor Bush’s answer is to get money back to families and put in place a strategy where the economy grows again.” She adds that, as a result of middle- and low-income workers paying less in taxes, “the highest earners actually pay a greater share of the taxes than they did before.” ## Transcript The younger Bush brother did not make the governor's chair in Florida. The older Bush brother, George W. Bush, did make it in Texas. This is a mixed night for the Bush family. I know we can do better. It requires a new style of leadership, commitment to service to others, and an ability to bring people together rather than divide I wanna be the governor that leads us there. And in Florida, Jeb Bush, 56 to 44 over Buddy MacKay, the Democratic candidate. My brother said in one of his speeches, my brother said he's gonna deliver Florida. [ LAUGH ] He did say That he said it more than once. Will he deliver it? He also told it was going to be a cold Thanksgiving dinner if I don't help him out, and then we're going to carry it. We could be in for a long night as voters decide whether Vice President Al Gore or Texas Governor George Bush will be the next president of the United States. It is that close. ABC News is now going to project that Florida goes to Mr. Bush. While the closest elections in American history Bush has won it. The rigor of the common core state standards must be the new minimum in classrooms. And so for those states that are choosing a path other than common core I say this. You should be aiming even higher. And be bolder and raise standards and ask more for our students and the system. The simple fact is there is no plan to deport 11 Million people. We should give them a path to legal status. Where they work, where they don't receive government benefits, where they don't break the law, where they learn English, and where they make a contribution to our society. Knowing what we know now, would you have authorized the invasion? I would of and so would of Hillary Clinton. Just to remind everybody and so would of almost everybody that was confronted with the intelligence they got. By the way guess who thinks that those mistakes took place as well. George W. Bush. Your brother. Yeah. I mean so just for the news flash to the world that they're trying to find places that there's big space between me and my brother, this might not be one of those. I'm running for president in 2016, and the focus is going to be about how we, if I run, how do you create high sustained economic growth where more people have a chance at our success. I don't know if I'd be a good candidate or a bad one. Kinda know how a Republican can win, whether it's me or somebody else. And it has to be much more uplifting, much more positive, much more willing to be practical now in the Washington world. Lose the primary to win the general. 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