When I reference April fools in the headline, I am not joking. I am referring to the Republican fools who have released their alternative budget plan, this time with numbers.
The plan, drafted by Wisconsin Rep. Paul Ryan, the top Republican on the Budget Committee, also freezes overall spending on domestic programs passed by Congress each year and repeals most of the spending in Obama's recently passed economic stimulus bill.
Despite spending reductions, the plan projects permanent deficits exceeding $500 billion into the future, fueled largely by big tax cuts. The GOP plan would offer a dramatically simplified tax code in which couples would have the option of a 10 percent rate on the first $100,000 of income, with a 25 percent rate thereafter, with the first $25,000 of income exempt from taxation. Single could get a $12,500 exemption and a 10 percent rate on income up to $50,000.
Please tell me if I’m not reading this right. My wife and I together do not make $100,000, which means that we would fall under the 10% tax rate. Our current tax rate is 25%, therefore, we’d get a 15% tax cut. If we made more than $100,000, then we’d fall under 25% tax rate for everything above the $100k, which is down 10% from the 35% rate they have now.
This sounds like a construction bid to me, and the Republicans are low balling the competition. In order to pay for these tax cuts, they’re going to freeze spending on everything, including the stimulus! Apparently, these guys don’t understand the basic principle of our economic system…our economy grows when money is spent. Obama wants a budget that builds roads, schools, a new, clean energy infrastructure, and provide affordable health care for everybody. These are big ticket items that provide good jobs long after the construction and development is finished. The Republicans want you to have enough money to buy an iPod.
Fuck these guys! You’re not gonna buy my vote with cheap tax trickery.
Call your Senators and your Representatives today and tell them you want Obama’s budget plan!