Democrats tax policy? Cut Corporate tax and raise taxes on income?

"Rangel Tax Plan's Centerpiece Is 30.5% Top Corp Rate" http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20071024%5cACQDJON200710242253DOWJONESDJONLINE001107.htm&

Public Comments

1. Not surprising that they would do what they accuse the president of doing.
2. Heres the catch, as stated in the article : To offset the cost of the lower tax rate, the plan would alter a number of business tax provisions, according to lawmakers, congressional staff and lobbyists familiar with the plan as outlined Wednesday night. The plan will repeal a tax deduction for domestic manufacturers. It will prevent companies from using an accounting method known as last-in, first-out, or LIFO, that can cut their taxes during times of rising prices. Repealing LIFO could result in a substantial tax for companies currently using the method, but aides briefed on the plan say the change would be phased in over eight years, thereby blunting the initial impact.