Off-Topic: Mort Zuckerman piece

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	Name:	MartiniMan -
	Subject:	Mort Zuckerman piece
	Date:	7/15/2009 3:26:17 PM

He didn't offer solutions. Republicans have proposed a bill called the Economic Recovery and Middle-Class Tax Relief Act of 2009. I know, you have probably never heard of this because it has been embargoed by the government media. You may not agree with their solutions but I hope you will agree that it is unfair to say they haven't proposed any solutions of their own. And remember, this is an economic stimulus bill meant to improve the economy. The difference is the philosophy that individuals can do that much better than government.

Some highlights of the bill which I believe (given my fiscal conservative nature) makes significantly more sense than anything coming out of the Dem-lead Congress. All these will stimulate businesses, create jobs and quickly improve the economy as they have every time they were tried.

Spending
- Does not include one penny of new spending
-1% reduction in FY2009 discretionary spending

Business Stimulus
-Full and immediate expensing the cost of assets (huge stimulus)
-Reduction in corporate tax rates from 35% to 25%
-End capital gains tax on inflation and simplify the structure
-Make R&D tax credit permanent
-Extend carryback period for losses to seven years

Taxes
- 5% across the board tax cuts for all brackets and make the cuts permanent
- increase child tax credit to $5,000
-make the lower 15% rate on capital gains and dividends permanent
- repeal the AMT
- repeal required distributions on retirement accounts
- make withdrawals from 401k and IRA accounts in 2009 penalty and tax free