We’ve been told that for years, right? And he keeps proving it wrong. He did so again today, when he announced a tax plan which is virtually identical to the one his brother foisted on us in 2001 and 2003, and one which would have the same deficit-exploding effects.

We will cut individual rates from seven brackets to three: 28%, 25% and 10%. At 28%, the highest tax bracket would return to where it was when President Ronald Reagan signed into law his monumental and successful 1986 tax reform.

The top rate under his brother’s regime was 35%. Now it’s 39.6%. Whoopee! Let’s cut taxes for the rich to an all-time low!

Ahem. We continue.

To stop American companies from moving out of the country, I will cut the corporate tax rate from 35%—the highest in the industrial world—to 20%, which is five percentage points below China’s.

Can you say “Race to the Bottom,” class?

We will end the practice of world-wide taxation on U.S. businesses, which fosters the insidious tactic called corporate “inversions.” This is when small overseas companies buy big U.S. companies so that both can enjoy the lowest tax rate possible, costing American jobs and revenue. And we will assess a one-time tax of 8.75%, payable over 10 years, on the more than $2 trillion in corporate profits sitting overseas.

Oh, hey, a one-time hit, my friends, but then never ever again will you owe taxes on any of your overseas profits!

There’s more, but those are the most obvious. This man is dumber than his brother, and his “advisors” are equally as stupid. One, Glenn Hubbard, was one of the architects of George Bush’s tax cuts, in fact. You’d think the candidate and his advisor would recognize the failure of the older brother’s cuts to do anything remotely resembling the economic growth they hope for, but I guess understanding history is beyond them.