One of the things that most interests and disturbs me right now is the gap between the parties on the basics of public policy. If you want to understand how huge this gap is, just read the two posts below. One references Allen Sinai, a mainstream Wall Street economist. The other is from Robert Reich, U Cal Berkeley Professor and former Secretary of Labor under Bill Clinton. Both obviously serious guys.
Here’s the piece about Sinai, suggesting bold cuts in capital gains: http://www.bloomberg.com/news/2011-10-26/want-to-create-jobs-first-cut-capital-gains-taxes-amity-shlaes.html
And from Reich, a proposal that we raise marginal tax rates to 70%: http://www.nationofchange.org/flat-tax-fraud-and-necessity-truly-progressive-tax-1319289260
I’m much more in the flat tax camp myself, but reading these two commentaries together does give the sense that the major players on public policy really don’t inhabit the same universe.