House Republicans, meanwhile, offered a proposal that would lower the top tax rate on individual and corporate income to 25 percent from 35 percent. The plan would also strengthen patent protections against some lawsuits, require congressional approval of significant new regulations, increase domestic oil protection and promote the party’s effort to make large cuts in government spending.I hate to point out to those morons that cutting taxes has not and will not increase revenues, so in order to reduce the deficit, they would need to drastically slash spending, thus causing large numbers of jobs to disappear. The tax cut for the wealthiest Americans will not increase private spending enough to offset those job losses. We've been through this before, it doesn't work. If it did, we'd be at full employment. A vote for Republicans is a vote for morons. Tax rates should be going up from 35%, not down.
Update: Uwe Reinhardt makes the case for higher taxes.
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