The plan would slash income tax rates for the wealthiest Americans, costing the Federal government as much as $300 billion. This would require lawmakers to dismantle many important Federal programs. That’s irresponsible, but it’s certainly not the most bizarre element of the budget. The Republican plan would actually create two different tax plans: the existing Bush tax rates, and the new rates that would be 10 percentage-points lower for the wealthiest Americans. They would then give wealthy taxpayers a choice of which tax rate they’d like to use. Why would they do such a ridiculous thing?
…the real way that Republicans offer the tax cut without factoring it into the budget’s revenue is to suggest that Americans won’t actually take advantage of the lower rates. Instead, the GOP budget permanently extends President Bush’s 2001 and 2003 tax cuts. A Republican budget committee aid said that the revenues assumed in the GOP budget are based on the current tax structure that resulted from those cuts.
In other words, Republicans are assuming that given the choice between a higher rate and a lower rate, Americans will choose the higher rate.
I am just floored. This plan is so monumentally stupid, irresponsible, and dishonest that I can’t even believe it.
Hmm, surprise, the republicans want less tax.
But the question is, will there be caps on deductibles, etc? If so, there will be a great change in who pays what.
In other words, I think the system is dumb right now. We can’t tell who will pay what when.
And to go on: Here in Minnesota we’re stuck with fees instead of income tax, and I’m always wondering what fee will hit us next. Better to use an income tax system, and then we can plan.
Also, sin taxes are stupid. Lots of kids pay the price for those sin taxes we keep heaping on… what is it, $6.00 a pack now for cigarettes? WOW!
“we’re stuck with fees instead of income tax, and I’m always wondering what fee will hit us next”
I’m guessing we’ll have higher income taxes, more fees, and bigger/new sin taxes. And, what the hell, since we’re all playing touchy feely and singing Kum ba ya, maybe we can throw a “world tax” in there also.
“Monumental” is all that matters.
Whatever Repubs been smoking - has taken hold permanently.
Hmmm. a continuation of the Bush policies which wrecked our economy. How do the conservatives here feel about that?
The republican party has become a perennial clusterfuck.
How did Bush kill the automakers and housing industry? I thought he was too busy helping his oil buddies and Cheney’s pals at Halliburton. For such a dolt it appears that he was a mastermind controlling all aspects of American life while everyone else stood by helplessly…
As you should know by now, Bush is responsible for anything bad. Barney Frank had nothing to do with it.
C”Rush”,
What a predictable ditto-headed thing to comment. It symbolizes your continuing to obsessivly go to the websites of people you disagree with on issues and ridicule them. That’s what you do. Period.
LOLOLS Barney Frank.
I think it is wonderful, because we keep getting reminded of the level of intelligence that the dittoheads have. Keep representing a Minnesota Republican dittohead so perfectly, and inspiring us all.
Great Job!!