OK

Mitt, you have been criticized for the vagueness of your tax plan. I have a great new idea for you to silence your critics with a single bold stroke. You like bold strokes, don't you?

You say that your plan will reduce the burden on the middle class, while at the same time closing loopholes for the rich. However, there are a few skeptics that have lingering doubts about these details, which you must admit seem to be a little shaky in the arithmetic department. So here's my proposal, Mitt.

As you said, implement a 20% reduction in federal individual income tax rates for all household income levels up to $250,000. Above $250,000, increase the tax rate by 10%. These new rates would be marginal, of course. Even for millionaires, their income tax on amounts up to $250,000 would be reduced by 20%, but above $250,000 their tax rate would be increased by 10%. (The 10% figure might need to be adjusted to make it revenue neutral. I'm sure the CBO can help you with this.)

Note that the capital gains rate on amounts above $250,000 would increase from 15% to 16.5%. And if a taxpayer's marginal rate on earned income were 35% before the plan went into effect, it would rise to 38.5% afterwards.

Simple, and unambiguous. All middle class taxpayers would receive a significant tax reduction. The rich would all see a modest tax increase. And you wouldn't have to tinker with the messy details like deductions and other loopholes. Perfect, right Mitt? Isn't that just what you always really wanted? How could any Democrat find fault with this plan?

Mitt? You still with me? Mitt??

EMAIL TO A FRIEND X
Your Email has been sent.