There’s a lot more that must and will be said about the GOP’s April Fool’s Day budget. But there’s one hilarious tidbit that needs mentioning.
As we already knew (because it was the one specific detail in the last “budget”), the plan has a massive tax cut for the wealthy – lowering the highest marginal rate to 25%. Higher-earning taxpayers can, however, voluntarily opt to pay the old higher rate.
Here’s the kicker – the GOP’s deficit assumptions assume that everyone will opt for the older higher rates. Take it away Steve Benen:
Ryan Grim adds:
In other words, Republicans are assuming that given the choice between a higher rate and a lower rate, Americans will choose the higher rate.
I got nuthin'. My powers of snark are unequal to the task.
Oh yeah, it also proposes to scrap Medicare for people under 55. More to come!