Newt’s Plan to Reward America’s Greatest Americans, the Rich
by Jim Washburn
Newt Gingrich has been so busy flouting his BIG IDEAS, such as teaching poor children the virtues of menial labor and calling Palestinians an "invented" people (as opposed to, say, Americans, who just sprang from the soil with a sparkler in either hand), that many people haven't noticed that he, too, has a tax plan.
Remember all the fuss about Rick Perry and Herman Cain's tax plans, once people noticed they'd cut taxes for the rich while raising taxes on working folk and bloating the deficit, so that even more essential services would be cut? Well, Gingrich's unnoticed plan would do pretty much the same, according to the non-partisan Tax Policy Center.
According to its analysis, your taxes would drop a whopping 62%, just so long as you're an American earning over $1 million a year, so get cracking on that, because everyone else doesn't fare so well. Additionally, they estimate that by 2015, under Gingrich's plan federal tax revenues would drop by $850 billion, necessitating ultra-draconian spending cuts in government services.