On Monday, December 3rd, House Speaker John Boehner issued a letter to President Obama in which he stated that he will not accept any attempts to raise marginal tax rates, and outlined a counter offer. You can read the letter here.

Boehner's counter offer is based on the conservative principle that if we take care of the job creators, they'll take care of us. They're the engine of our economy, and if anything happens to slow that engine, it may never get going again.

This may appear elitist, but it's based on sound conservative economic theory. Just remember: a poor person never signed your paycheck. And, each and every one of us has the opportunity to join the job creator class if we work hard enough.

Here's an outline of his counter offer:

Raise the Medicare Retirement Age.

Why it's important:

Medicare was a bad idea when it was first proposed. Reagan had it right: any government-supported healthcare was the first step down the road to socialism. The best Medicare is no Medicare. If we can't kill the beast, at least we can wound it. And raising the retirement age is the right thing to do, because people today are living longer than they were in the 1960s.

Why it won't harm the job creator class:

Job creators have the means to pay for their own medical care upon retirement.

Cut back on Social Security cost of living increases.

Why it's important:

It will reduce government spending and, like raising the Medicare retirement age, will allow deficit reduction without having to resort to raise top marginal rates.

Why it won't harm the job creator class:

Job creators have the means to support themselves in retirement.

Keep marginal rates where they are.

Why it's important:

The CBO has stated that raising the top marginal rate by 3% will significantly slow down the economy. It will hurt the economy where it's at its weakest: job creation.

Raise tax revenue through closing loopholes, not raising marginal rates.

Why it's important:

This allows additional revenue without putting the burden on solely on the job creators. If you raise only the top marginal rates, as Obama wants to do, then it's only top earners who shoulder the burden. Methods such as eliminating or reducing various deductions help spread the burden among the middle class, as well.

Why it won't harm the job creator class:

Many of the suggested tax reform methods will affect the middle class more than they do the job creator class. Case in point, the mortgage interest deduction: keep in mind that many job creators pay cash for their properties, so this will hardly affect them.

End the temporary payroll tax reduction.

Why it's important:

Obama's temporary payroll tax reduction, which reduced the social security tax withholding rate from 6.2% to 4.2%, was a fundamentally bad idea. While it's increased take-home pay, for lower income and middle class earners, it's done so at too great a cost. This so-called "temporary" reduction is poised to be permanent, unless the GOP takes action.

Why it won't harm job creators:

Many job creators make most of their money on capital gains, rather than a salary. And it doesn't affect high-income salaried professionals, because the withholding is only on the first $110,000 of salary. That is, if you make $220,000 a year and you have an employee who makes $110,000 a year, their effective social security tax rate is 4.2%, while yours is only 2.1%.

We've heard objections, questions and concerns from all across the political spectrum. Here are some of the most popular ones:

Won't it harm charities?

The presumption is that a cap on deductions will reduce the incentive to donate to charities. This may very well be true in some cases, but keep in mind that the goal is to avoid the fiscal cliff, not give a hand out to charities.

Won't it reduce the incentive to purchase a home?

For some, it will -- particularly those in the middle class who are counting on the mortgage interest deduction to reduce net housing costs. But this won't have a measurable effect on the economy, since (as covered above), wealthier citizens tend to purchase homes with cash. If your finances are such that you depend on that mortgage interest deduction to stay in your home, then perhaps you shouldn't be a homeowner.

Boehner's counter offer may anger a lot of people. But it's not designed to be popular -- it's designed to solve problems and keep us all from the fiscal cliff. It demands sacrifices from everyone, but they're reasonable sacrifices for us to make if we wish to keep the economy going.