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Momma said wonk you out

THE NEW BIPARTISANSHIP.

Jim DeMint just offered an amendment to the stimulus package. Via Dave Weigel, here's what it contains:

• Permanently repeal the alternative minimum tax once and for all;
• Permanently keep the capital gains and dividends taxes at 15 percent;
• Permanently kill the Death Tax for estates under $5 million, and cut the tax rate to 15 percent for those above;
• Permanently extend the $1,000-per-child tax credit;
• Permanently repeal the marriage tax penalty;
• Permanently simplify itemized deductions to include only home mortgage interest and charitable contributions.
• Lower top marginal income rates from 35 percent to 25 percent.
• Simplify the tax code to include only two other brackets, 15 and 10 percent.
• Lower corporate tax rate as well, from 35 percent to 25 percent.


The amendment was beaten back, but all but five Republicans voted for it. It reminds me of something John Cole wrote earlier today. "I really don’t understand how bipartisanship is ever going to work when one of the parties is insane," he said.



COMMENTS

In fairness, I'm pretty sure some of those "yes" votes would have become "no" votes if they thought about the amendment for more than 2 seconds or believed it had a chance in hell of passing. Voting "no" on tax cuts that won't pass anyway is, for Republicans, like turning down a one night stand with Lacey Chabert.

It is disturbing to realize, though, that there could be anyone in a position of political authority crazy enough to think that's an appropriate response to the meltdown.

Mike

It is not "the Death Tax"! That is a partisan label which you shouldn't include unless it's a direct quote.

fix 2nd link pls

The "Death Tax" label is in there because I'm quoting directly from DeMint's summary of the amendment.

There appears to be 5 members of the insane party who are slowly regaining their sanity. Who are they? Did anyone from the supposedly sane party vote for it?zntjtt

I work with people who have schizophrenia. Most of them have psychotic symptoms every day: hallucinations, delusions, very disorganized thinking. 95 percent of what they do is normal; 4 percent makes some sense; and 1 percent is completely off.

My job is much easier than President Obama's.

Are they really insane? Isn't this strategic? They know they won't get these amendments, but they can look good to their base by proposing these amendments and then throwing up their hands and saying, "Those tax-and-spend Democrats just won't listen. They're so mean."

"There appears to be 5 members of the insane party who are slowly regaining their sanity. Who are they?"

Susan Collins (ME), Olympia Snowe (ME), Arlen Specter (PA), George Voinovich (OH). And Judd Gregg didn't vote, so I counted him.

Four senators from states that voted for Obama (IA, IN, NC, FL) voted for the DeMint amendment.

So, basically Obama drafted a bill that gave the Republicans are large amount of what they wanted, and the Republicans replied by publically opposing Obama and instead offering up an alternative that had all of what they wanted and none of what Obama wanted? They are ingrates who don't appreciate how good they had it from Obama. I want to hear DeMint make a speech from the Senate floor thanking Obama for his graciousness in including so many of his ideas, not proposing crap like this on the senate floor.

...and the other party doesn't bother to actually pay their taxes....

I think DeMint should submit an amendment that will allow all of us to not pay any tax we don't feel like and simply write at the bottom of our tax return:

I AM INVOKING THE DASCHLE, GEITHNER, SOLIS, RANGEL RULE.

Rich fat fu*ks protecting rich fat fu*ks.

Slightly more than half of us are trying to save the USA from its own undoing.

Blind sheep follow blindly slowly with immoral acts and lies destroying the Republic all the while claiming high moral ground.

I'm so sick of this country and its religious, puritanical garbage.

I hate to break this to them, but their god is not superior to any other god.

I want to hear DeMint make a speech from the Senate floor thanking Obama for his graciousness in including so many of his ideas, not proposing crap like this on the senate floor.

He's a pale motherfucker from upstate SC. He'll marry his daughter off to a rapper first.

Obama's bipartisanship: "I won."

I am curious, is it crazier to reduce tax rates in order to grow the economy and thus increase money to the government, and at the same time reduce the burden on the government by providing private sector jobs...or is it crazier to rail against people as tax cheats and insists they be prosecuted to the full extent of the law, while you at the same time are not paying 150,000 in your own taxes owed because you think you're entitled to a car and driver at your beck and call?


Just what is the difference in income tax collection if taxes are 25% and we have 1% growth and 7% unemployment; or if we have 15% inome tax and 10% growth and 4% unemployment?

That doesn't work in real life, unfortunately. Tax cuts result in reduced revenues.

...and the other party doesn't bother to actually pay their taxes....

I think DeMint should submit an amendment that will allow all of us to not pay any tax we don't feel like and simply write at the bottom of our tax return:

I AM INVOKING THE DASCHLE, GEITHNER, SOLIS, RANGEL RULE.

5 senators actually voted against. 6 total GOP did not vote yes--You forgot Richard Lugar from the great state of Indiana (which voted for Obama). He's always seemed like a pretty moderate republican,and could be very helpful in the Senate for the new administration.

It is quite nuts for any liberal to argue the other side is crazy when their leader insists that 500 Million Americans are losing their jobs each month.

That's including all 57 states that Obama insisted he visited...

Some on the left are finalling having their blinders taken off and realizing Obama is way over his head. His previously cool demeanor was an act and now he's going into full panick mode

Trying to figure out what the atmosphere in Washington reminded me of, then I remembered: an old cartoon by Indian cartoonist RK Laxman, about Indian politicians who hanker for support from the Indian disapora.

The cartoon is of an Indian politician lauding a smug-looking man in a pinstriped suit, with the caption: ". . .And he has the welfare and prosperity of our nation at heart. He is truly a patriot. He is no ordinary Indian. He is a non-resident Indian!"

It's not at all true that the Obama administration is shunning progressives, but they do seem to be going out of their way to shun progressives who have ever been lightning rods for conservative opposition, and they do seem to be going out of their way to promote people who have attracted significant support from conservatives, like Bredeson.

As a result there does seem to be a "he is no ordinary progressive. He is a conservative progressive!" dynamic to the first few days of the Obama administration.

Hopefully, it won't continue like this, as the Obama people realize you can't shun competent, effective good-judgement progressives just because they have attracted conservative ire at one time or another.

And also realize that the fact that conservatives say nice things about you, does not necessarily mean that you are doing a good job.

Whatever Ezra, don't act like you didn't expect this. Obama's bipartisanhsip bloviating was on full display before and during the primaries and you still threw your fanboy support behind him 100%

Wow, where'd all the rightwing assholes come from?

Fuck off, trolls. You spent 8 years diligently destroying this country, now it's time for adults to clean up. Fling your shit elsewhere.

And Ezra, your supposed link to Cole is, in fact, a link to some rightwing dickwad flinging shit at you.

My favorite comment is the one that says if rich people got a huge tax cut, GDP growth goes from 1% to 10%. TEN PERCENT! That is like adding the entirety of the Canadian economy to our own with one tax cut.

The US economy hasn't experienced a 10% growth rate in Real GDP since 1942. (For the curious, the top marginal tax rate back then was 82%). Of course, that 10% growth rate came from a giant surge in Government spending known as World War II.

Throw in the fact that the Bush tax cuts did little to nothing to create new jobs, but this magical tax cut will reduce unemployment by 3% and you're looking at numbers so absurd that even the Heritage Foundation would laugh at them.

No wonder that poster chose to remain anonymous. He/she might as well as claimed the tax cut would cure cancer as well, not that I'd be surprised if a GOP think tank has a paper suggesting a link.

The Tax Cut Elixir cures all!

El Viajero: "I like the idea of terrorist organizations winning elections."

Hopefully this will at least put to rest the "too expensive" and "too much is long term" excuses Republicans give for not voting for the stimulus.

Whatever Ezra, don't act like you didn't expect this. Obama's bipartisanhsip bloviating was on full display before and during the primaries and you still threw your fanboy support behind him 100%

Amen then to that! Wasn't like there weren't hints.

Let's see. If you abolish the "Death Tax," exactly what are you incentivizing?

I would think that democrats would only object to these 3:


• Lower top marginal income rates from 35 percent to 25 percent.
• Permanently keep the capital gains and dividends taxes at 15 percent;
• Permanently kill the Death Tax for estates under $5 million, and cut the tax rate to 15 percent for those above;

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About Ezra Klein

Ezra Klein is an associate editor at The American Prospect. An archive of his articles for The American Prospect can be found here.

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