Some Republicans leaders have wondered out loud if Vilsack's plan to lower marginal tax rates and the tax cuts for pensioners can actually be done due to present budget restraint. However, the GOP and Iowa taxpayers have been given an opportunity. GOP can enact free markets friendly tax reforms and be a model for Bush's own plan for tax reform. What happens in Des Moines can have impact beyond the Iowa border.

Vilsack wants to be President, or at least Vice President. With a significant tax reform passed, he can campaign a new Red State Democrat and even run to the right of many GOP presidential candidates. And the example of a possible Democratic candidate supporting free market tax reforms will make it easier for candidates on both sides of the aisle to not just propose but pass significant tax reform.

Iowa caucus is the first major test for Presidential candidate and the Democrats may have a candidate who can challenge the GOP on their turf of tax reform with a future oriented tax plan. In America today, nearly half of Americans own stocks and this is forcing many Americans to have concerns that extend beyond the up coming election. A stock holding American is not just worry about immediate economic concerns but also the effect of economic policy upon their retirement packages. The investor class is now an important aspect of the political landscape. The Vilsack's tax reform is Vilsack attempt to peel off Iowa investors from their natural home in the Republican Party. This will also elevate this debate in both parties and the investor class could be big winner in the end.