Sunday, June 2, 2013

Keith Ellison Has Plans

Minnesota sent two new members to the House of Representatives in 2006 -- Michele Bachmann from the northern suburbs and Keith Ellison from Minneapolis. Bachmann has decided to take her sideshow of inanity on a different path (yay!), but Ellison -- even more ensconced in a safe district than Bachmann -- is building a future for himself as a progressive voice of Congress. In 2010 he was elected chair of the Congressional Progressive Caucus.

Keith Ellison studying notes on his iPad
Star Tribune photo by Mary F. Calvert

Today's Star Tribune business section described what Ellison has been up to on that front, including a summary of his economic plan. I have to say, I don't disagree with a thing on his list:

  • Apply new tax rates to high-income groups, staring at $1 million and ranging from 45 to 49 percent
  • End the Bush tax cuts for incomes over $250,000
  • Convert the mortgage-interest deduction to 15 percent tax credit on mortgages up to $500,000
  • Allow Medicare to negotiate lower drug prices, bundle health care payments, and offer a public health insurance option
  • End tax subsidies for oil companies
  • Roll defense spending back to 2006 levels
  • Fund infrastructure projects
  • Tax certain high-frequency trading at rates ranging from 0.5 percent to 0.005 percent per transaction
Sounds like a plan to me.

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