It’s All Part of My Stimulus Fantasy
This amendmentto the economic stimulus bill passed by the House and now being considered by the Senate, submitted by conservative icon-in-the-making Sen. Jim DeMint (R-S.C.), was breathtakingly bold. The gist, from Sen. DeMint’s Website:
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 repeal the marriage tax penalty;
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 corporatetax rate as well, from 35 percent to 25 percent.
This got the support of all but five Senate Republicans.