Mitch Perry Report 2.26.14 - A specific plan to change the tax code



During yesterday's CD13 debate at the Capitol Theatre in Clearwater, all three of the candidates talked about reforming the tax code. Alex Sink talked about the wealthiest corporations not paying any income taxes, blaming lobbyists for allowing that to happen. Lucas Overby followed up by saying that it wasn't lobbyists but members of Congress who should be blamed, since they are "bought and paid for." David Jolly said the tax code needed to be "fairer, flatter and simpler," and said he was for reducing taxes, period.

Will Democrats and Republicans ever come to an agreement, though? Today Michigan GOP Representative Dave Camp, chairman of the House Committee on Ways and Means, has laid out his plan to reform the code in an op-ed in the Wall Street Journal.

It's pretty damn simple. Under his plan, over 99 percent of tax filers would face a top tax rate of 25 percent.

The top 1 percent, whose income is over $450,000, would have a 10 percent tax surcharge on certain types of income. Currently the top tax rate is 39.6 percent.

So, what happens next? Let's see. It's Washington D.C. It's an election year, and we saw how that's been working out with immigration reform, right? And maybe Camp's vision is all wrong. But he's put something out there. Undoubtedly Senate Democrats will have a critical response, and hopefully they can provide their own plan soon -- or else just accept the status quo, with congressional candidates debating that "something" needs to happen, but not being able to do anything once they get to Washington.

With all of the complaints about third-party television ads in this congressional election, it was libertarian candidate Lucas Overby whose views on the subject appeared to win over the house in the Capitol Theatre yesterday.

Meanwhile, Tampa Bay Republicans are trying to gin up some anger toward Alex Sink regarding her comment about undocumented immigrants during the Clearwater debate.

Add a comment