An open letter to the President
Recent reports seem to indicate that your White House is suggesting that tax cuts on the wealthy be extended in order to not jeapordize the recovery. On principal, I am opposed to this, however if this is seen as essential, I offer the following compromise.
Make the 10% tax rate and the 25% tax rate permanent, as well as the $1000 child tax credit.
Extend the 28% rate (was 31%) and the 33% tax rate (was 36%) for one year only.
Allow the 35% rate to go to a 10% surtax of 3.3% now (a 36.3% rate), going back to 3.6% when the 33% rate goes back to 36% in a year (a 39.6% rate).
Give this deal to the GOP as a one-time and limited time offer. Give them until Labor day to accept it and if they don't, put the 33% rate back to 36% as originally planned.
Make the 10% tax rate and the 25% tax rate permanent, as well as the $1000 child tax credit.
Extend the 28% rate (was 31%) and the 33% tax rate (was 36%) for one year only.
Allow the 35% rate to go to a 10% surtax of 3.3% now (a 36.3% rate), going back to 3.6% when the 33% rate goes back to 36% in a year (a 39.6% rate).
Give this deal to the GOP as a one-time and limited time offer. Give them until Labor day to accept it and if they don't, put the 33% rate back to 36% as originally planned.
posted by Michael Bindner at 2:57 PM
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