Republicans In Congress Need To Act NOW

Republicans in the US House of Representatives should end negotiations with Socialist President Obama to deal with the Fiscal Cliff and instead just enact common sense tax and entitlement reform that will stimulate economic growth and job creation again in America.   Forget about Drama Obama and just do the right thing for our country and send it over to the Senate and the President.   If the Socialists then fail to act to overt the Fiscal Cliff, then they will be held responsible for the end result. 

This is not all that complicated.   Personal income tax rates should be cut by 10% across the board and in exchange all deductions, except the charitable deduction, should be capped at $50,000.   This will save the mortgage deduction for the middle class and limit deductions for the rich.   Next, the corporate income tax rate should be cut from 35% to 25% by ending certain loop holes for business.  This will keep more jobs in the US.   To give the Socialists a bone, raise the tax on Capital Gains and Dividends from 15% to 20%, which is still low enough to encourage investment.   Keep the estate tax exemption at $5,000,000 per person to protect small businesses and farmers attempting to leave their businesses to family members. 

Tackle Entitlement Reform by further means testing Medicare NOW so that wealthier Americans are paying up to 50% of the Medicare Premium.   Medicare is already means tested.   This concept would just go a bit further.   Raise the retirement age for those under 50 for early retirement to 65.  Graduate the full retirement age up for those under 50 to age 70 for those that are 30 years and younger today.   Modify the inflation formula for Social Security to make it more conservative.  Since people are living much longer, these changes are perfectly reasonable.  At some point, those under 50 should be given a choice of maintaining some of their Social Security contributions in personal accounts; but that battle can come later. 

Republicans in the House of Representatives should just enact this package and send it over to the Senate and the President.  If Socialist Senate Majority Leader Harry Reid has a brain, which if often doubtful, this deal then would go through normal reconciliation when the House and the Senate sit down to settle on any compromises that are necessary to get Senate approval.  It is time to stop all the BS and political posturing.  In January, Republicans in Congress will have to deal with raising the Debt ceiling; but that should always be tied to further budget cuts.   Socialist President Obama is a Man/Child, in constant campaign mode; but incapable of governing.   The grown up's in Washington DC need to get the job done, once and for all, to overt the Fiscal Cliff.