Repug Budget Proposal: Massive Tax Cut For Wealthy (slash top marginal rate from 35% to 25%)

[jefferson_dem]

GOP Budget Proposal: Massive Tax Cut For Wealthy
March 26, 2009 01:21 PM

House Republican leaders called a press conference Thursday to unveil their "alternative budget." While it was thin on specifics, it does include one major policy proposal: a huge tax cut for the wealthy.

Under the Republican plan, the top marginal tax rate would be slashed from 35 to 25 percent, facilitating a dramatic transfer of wealth up the economic scale. Anyone making more than a $100,000 would pay the top rate; those under would pay 10 percent.

"Two nights ago, the president said, 'We haven't seen a budget yet out of Republicans.' Well, it's just not true, because here it is, Mr. President," said House Minority Leader John Boehner (R-Ohio), waving a blue document in the air.

"Today we're introducing a detailed road-to-recovery plan," he told the reporters. Other than the tax proposal, however, the plan was absent any details. Instead, it hammered the Democratic budget as too expensive.

Reporters -- mainstream, liberal and conservative -- greeted the Republican document with a collective scoff.

"Are you going to have any further details on this today?" the first asked.

"On what?" asked Boehner.

"There's no detail in here," noted the reporter.

http://www.huffingtonpost.com/2009/03/26/gop-budget-proposal-massi_n_179598.html