And indeed, Sen. Mike Lee (R-Utah), a darling of reformcons, has worked up a bold plan to rejigger the tax code with an eye toward rewarding family formation. He has also proposed the Working Family Flexibility Act, which would mandate that employers give employees a choice in taking overtime compensation in money or time off. Others have proposed tax credits for stay-at-home moms and the expansion of the Earned Income Tax Credit from the poor to middle-income families.
Even liberals could not have imagined going this far.
And how will we pay for all this? The national debt is already $18 trillion. Stein recommends raising marginal rates on incomes that are currently taxed at 25 percent to 35 percent, marking the end of Reaganomics. But that won’t be enough to fund the more ambitious versions of his plan.
Reformcons are flirting with eliminating corporate welfare and crony capitalism (which is great), dumping talk about balancing the budget to free up borrowing (which is not so great), and good old-fashioned class warfare to soak not just the super rich, but also the merely affluent (which is really disappointing).