When did tax-reform plans become so sexy? It seems like every day now GOP candidates are flaunting a new, slimmer tax plan, complete with a catchy name and nonsensical (or nonexistent) ideas supporting them. After a while, they can all start to look the same, but they vary widely on the craziness spectrum. Homeland Security decided that colors are passé as a way to measure threat, so here is my patented Herman Cain “I am America” smile threat level system.
The Baseline: There are some basic conservative calling cards that the GOP tax plans share. They would all eliminate the 15 percent capital gains tax (Mitt Romney would only eliminate the tax for families making less than $200,000 a year) and the estate tax, and all the candidates have vowed to repeal the Affordable Care Act and Dodd-Frank. If your only source of news for the past couple of weeks has been the GOP debates, you would think that these were the two most dangerous pieces of legislation ever to be passed in the United States, right up there with The Great Society and the Social Security Act.
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