In other horrible news, the one hope for a thoughtful, intelligent, knowledgeable candidate on the R side (since it’s more than likely at this point that an R will win) ended with this today.
In an apparent attempt to eclipse all previous Republican giveaways, including the disastrous Bush tax cuts, Huntsman would drop the marginal rate paid by the richest Americans by more than a third to 23 percent — a lower rate than rich people paid during the Coolidge and Hoover Administrations or any time since. He would also eliminate all taxes on all capital gains and dividend income — the primary forms of income for the wealthiest Americans.
The trade off is that ALL retirement income becomes taxable as regular income (in other words, at a rate EXCEEDING taxes on dividends). Oh, and all those deductions you like so much… they’ll be gone as well.
This little plan will accelerate the concentration of wealth in this country into the hands of the top 1% and it will effectively end democracy and real capitalism in this country.
So, yeah, there wasn’t much to get excited about today.