Now That The GOP Runs The Show...

Here's a list of some of the economic plans they have in store:

• Enact legislation to make last year’s 10-year tax cut permanent.
• Accelerate the income tax rate cuts that are scheduled for 2004.
• Speed up and make permanent the repeal of the death tax.
• Pass an economic package that includes new investment tax breaks for businesses, higher limits on retirement savings account deposits and an increase in the amount of stock losses that can be deducted from income taxes.
• Pension protection legislation.

I'm really excited about most of the GOP agenda... but not all. But let's talk about the good stuff. Most people aren't aware of this but the tax cut that was implemented last year and is set to continue for another nine years is not permanent. After the 10th year, the system reverts back to the old tax rate, which will be quite an increase after ten years of reduction. It will be TERRIBLE! If we make it permanent, it will take a formal, official "tax increase" to change it again which means we can pin the increase on someone! And not re-elect them!
Kill the "Death Tax"! That's a good idea... because it allows for families to pass down businesses and assets to their kids without getting hit with a 50% tax rate. That usually destroys any chance of a continuation of a family business and typically causes the offspring to liquidate. That ends jobs as well! I also believe it's better to be able to get taxes out of a business that succeeds over taxing literally to death a business once.