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Seriously, that’s what it says in the new GOP pamphlet released last week.

I scanned through it today and found the same tired old theories about how they are the party of low taxes and controlled spending.  It was really quite hilarious.  On page two I found how their plan:

CURBS SPENDING

•  
  • Limits the Federal Budget from Growing Faster than Family Budgets Instead of spending money on wasteful programs under the guise of “stimulus” and investments,” Republicans seek to ensure that the federal budget cannot grow faster than families’ ability to pay the bill.

And on page nine I found that the government would be collecting way less revenue because, you guessed it – they want more huge tax cuts for the rich!

Republicans propose a simple and fair tax code with a marginal tax rate for income up to $100,000 of 10 percent and 25 percent for any income thereafter, with a generous standard deduction and personal exemption.  Republicans would allow any individual or family satisfied with their current tax structure to continue to pay those rates, while dropping the two lowest rates by 5 percent to provide every taxpayer with a tax cut.  Republicans would also permanently fix the Alternative Minimum Tax (AMT) so that millions would no longer have to fear the possible imposition of a huge, new tax each year.

Yes, they want to CUT the top tax rates that are currently set at 35%, 33%, and 28% down to 25%.  That would give the super rich who currently pay 35% a 10% reduction on their income-tax bill, unless they fell into the category of those who are “satisfied with their current tax structure” who will choose “to continue to pay those rates.”  I wonder how many millionaires and billionaires would willingly pay more taxes than their greedhead associates.  Not many I bet…  

And as if the income-tax reduction isn’t enough, I’ve read they would also like to completely do away with the capital gains tax.  If they had their way, the very richest CEO’s among them would save an average of $1,500,000 every year, while the working class would see little to no reductions in their taxes. 

How much tax revenue would be lost under the Republican plan?  Citizens for Tax Justice says: 

The income tax proposals in the House GOP plan, which is presented as a fiscally responsible alternative to the President’s plan, would cost over $300 billion more than the Obama income tax cuts in 2011 alone.

So the Republican tax plan would reduce federal revenues by hundreds of billions of dollars a year that would be funneled into the pockets of their super-rich base and, you guessed it, the government wouldn’t be able to spend money on “wasteful” programs like schools, bridges, roads, alternative energy development, and health care to stimulate the economy.

Obama shouldn’t waste a nanosecond trying to reach out to these greedy vulgarians and their pissed-on tax plan.  He should do what he was elected to do:   Start changing things.  If I were him I’d start by telling everybody that the right thing to do at this time is to take back the hundreds of billions of dollars that the super rich pretty much stole from everybody else by RAISING their tax rate to at least 50% and using the extra revenue to rebuild our country.