o Permanently repeal the alternative minimum tax once and for all;
o Permanently keep the capital gains and dividends taxes at 15 percent;
o Permanently kill the Death Tax for estates under $5 million, and cut the tax rate to 15 percent for those above;
o Permanently extend the $1,000-per-child tax credit;
o Permanently repeal the marriage tax penalty;
o Permanently simplify itemized deductions to include only home mortgage interest and charitable contributions.
o Lower top marginal income rates from 35 percent to 25 percent.
o Simplify the tax code to include only two other brackets, 15 and 10 percent.
o Lower corporate tax rate as well, from 35 percent to 25 percent.
That the Republicans have gone completely crazy, and have turned into a group of utter economic illiterates, is hardly surprising. But note that DeMint's amendment got Yea votes from 36 of the 41 Republicans in the Senate. Among them is that supposed sensible moderate centrist Kay Bailey Hutchison, who is apparently unwilling to cede the wingnut vote in the GOP primary to Rick Perry. In a just world, a vote like this would be firmly wrapped around her neck, in a nonstop barrage of TV and radio ads, by her eventual Democratic opponent, assuming that she does in fact win her primary. If only such a person existed.
Expect her to make more votes like this between now and next March, by the way. Winning that primary is more important than representing Texas' best interests. If, as she no doubt hopes, the election will essentially be decided by 600,000 or so voters who don't really care that much about Texas' best interests, what has she to lose by acting this way?Posted by Charles Kuffner on February 08, 2009 to Election 2010