How the GOP Can Rebound From 'Waterloo'

In my latest CNN column, I provide realistic steps for Republicans to take when Obamacare becomes the law of the land.

In my latest CNN column, I provide realistic steps for Republicans to take when Obamacare becomes the law of the land.

This will not include repealing the law:

Do Republicans write a one-sentence bill declaring that the whole thing is repealed? Will they vote to reopen the "doughnut" hole for prescription drugs for seniors? To allow health insurers to deny coverage to people with pre-existing conditions? To kick millions of people off Medicaid?

Instead, I provide solutions based on policy and reality:

One of the worst things about the Democrats' plan is the method of financing: an increase in income taxes. The top rate of tax was already scheduled to jump to 39.6 percent at the end of this year. Now a surtax of 5.4 percent will be stacked atop that higher rate. At first, the surtax bites only very high incomes: $500,000 for individuals. But that tax will surely be applied to larger and larger portions of the American population over time.

Republicans champion lower taxes and faster economic growth. We need to start thinking now about how to get rid of this surtax--if necessary by finding other sources of revenue, including carbon taxes.

Read the whole thing here.