It's only marginally more sensible than John Cole's unhinged rants against the rich. But it's honest enough:
The People's Budget would rescind last year's tax deal to raise rates on higher income levels, boost taxes on capital gains and dividends, increase the estate tax, institute three "millionaire tax rates," with the highest reaching 47 percent, tax corporate foreign income, impose a "financial crisis responsibility fee," and institute a "financial speculation tax." Overall, taxes would rise to 22.3 percent of the economy, compared with 18.3 percent under the Ryan proposal.
The plan would also build on Obama's most notable initiatives. It includes an additional $1.45 trillion in economic stimulus spending. On health care, the plan would add a government-run plan, or "public option," to Obamacare and have the government negotiate drug prices.
Yet while other parts of government would grow, the defense budget would be gutted.
Kudos to the Progressive Caucus. But even with this splurge of tax-and-spend-and-gut-defense, they only manage to get revenues 3 percent higher as a percentage of GDP than Ryan's, as Megan notes. Somewhere between them and Ryan, the answer lies.
The Dish 