Monday :: Nov 14, 2011

Republican Faux Compromise


by Mary

Evidently the Republicans are willing to accept "revenue adjustments" in exchange for deep cuts in growth in Medicare, Medicaid and Social Security. The price? Cap the top income tax rate (affecting the wealthy) to 28% down from 35% where it is now.

[T]he Republican plan would provide a windfall to the most affluent households, by permanently reducing the top tax rate to 28 percent. The top rate, now 35 percent, is scheduled to revert to 39.6 percent in 2013, with expiration of the so-called Bush-era tax cuts enacted in 2001 and 2003.

What a deal. The rich get even richer and the rest of the 99% are screwed. Feel the shared sacrifice.

Mary :: 1:01 PM :: Comments (4) :: Digg It!