Today, on the 10th anniversary of the Bush tax cuts no less, we have something far worse to present: former Minnesota Gov. Tim Pawlenty’s plan for the economy. Pawlenty’s plan wins the triple crown: it’s more radical than Ryan, costs three times more than the Bush tax cuts, and still means a tax increase on the middle class. Here are the main points of the Pawlenty plan, which he outlined in a speech this morning in Chicago:But wait!!!
The price tag for all of these tax cuts? More than triple the cost of extending just the Bush tax cuts: a whopping $7.8 TRILLION over 10 years, according to the Center for American Action Progress Fund’s director for tax and budget policy, Michael Linden. And that comes in addition to the $2.5 trillion that a full extension of the Bush tax cuts would also cost.
- A hidden tax increase on the middle class
- A massive personal income tax cut for millionaires and billionaires; Citizens for Tax Justice estimates the plan cuts millionaires’ taxes by at least 41%
- A massive tax cut for corporations — including Big Oil — that would cut the corporate rate by more than 50%
- A complete elimination of the estate tax, capital gains tax, and tax on dividend income
- A cap on total spending that would necessitate severe cuts to Social Security, Medicare, Medicaid, and other government programs (except for defense, which Pawlenty has taken off the table in favor of slashing Social Security instead)
If you haven't stroked the hell out yet.. We have reviews of this fuckwitted mess already.
Ezra Klein calls it a joke and a fantasy. I would call it a fucking joke, but Timmy Paw isn't joking. Jennifer Rubin, a conservative, states his spending plans are rather vague and gimmicky. M'dear Ms. Rubin, I would rather not even think about it. Adam Levitin, a Professor at Georgetown, has the following as his headline: Tim Pawlenty’s Plan to Destroy the World. Short and sweet Professor.
TPaw plans on gutting Social Security and Medicare. To say Social Security as we know it will disappear would be more precise. Medicare will also cease to exist..an idea who's time will never come.
But if you are a rich mutha fucka, m'dear reader..you will adore Timmy Paw's plan. I am sure the Koch Brothers are creaming themselves over this, as is anyone else in the top two percent.
As for the other 98% of us...not so much.