That’s what the American Conservative Union is saying:

In view of several pending and potential Initial Public Offerings (IPOs) by private equity firms seeking to join the public markets, U.S. Senators Max Baucus (D-MT) and Charles Grassley (R-IA) unveiled punitive legislation in S.1624 late last week to actually RAISE taxes on ALL existing and new publicly traded partnerships.

Like bad tax policy before it, this legislation was offered without the benefit of normal Congressional or Joint Tax Committee hearings or any analysis from the U.S. Treasury or the Internal Revenue Service.

The free market community is united against any new tax increases and will oppose this bill vigorously. Not only is this legislation a major tax increase, it will actually depress tax revenues as other partnerships will choose to stay private or reincorporate abroad – neither of which is good for the economy, the government or investors.

This legislation will more than double the tax-rate for ALL current publicly traded partnerships – the vast majority of which are not even private equity-based partnerships. 

Say it ain’t so Chuck!  What the hell are you thinking?

Hat Tip to the Captain.

Go here to see some excellent inspirational posters for the military, some of which are pretty darn funny too.

Hat tip to BLACKFIVE.

In South Carolina’s Republican nomination contest, Thompson — a popular television actor and former Tennessee senator who has not yet formally entered the presidential race — polled 25 percent. Former New York City mayor Rudolph Giuliani was second with 21 percent.

Former Massachusetts Governor Mitt Romney was third with 11 percent, followed by US Senator John McCain at seven percent. Twenty-eight percent of likely Republican voters were undecided.

Breitbart

South Carolinians are overwhelmingly against the immigration bill and I suspect that is why McCain has crashed and burned here. He was leading before.