The Republicans unveiled their much-hyped alternative budget today, which, as this thread discusses, isn't really a budget so much as long extended whine about the President's version. However, I disagree with the assertion that the budget is devoid of information. In fact, it contains hysterical and terrifying information.
On page ten of the Republican 'budget', should you dare to look, you will find this proud declaration:
"Republicans propose a simple and fair tax code with a marginal tax rate for income up to $100,000 of 10 percent and 25 percent for any income thereafter, with a generous standard deduction and personal exemption."
Got that? Anyone making over $100,000 pays a 25% tax rate. This struck me as not only a little low, but also rather familiar...
Fortunately, the internet is a wonderful thing (thanks, Al!), and the Google provided me with historical tax data (there's easier-to-read data here), which confirmed that 25% number was indeed familiar. The last time the maximum tax rate was that low? 1925-1931, with a brief dip down to a free-and-easy 24% in 1929. I trust we all know how benificial these rates were to the economy then. Less clear is how the Republican party could be so ignorant of history, but regardless, I think spreading the word that their 'budget' would in part recreate the economic conditions of 1925-1931 is a worthy pursuit.