Quote:
Originally Posted by Lamplighter
OK, I have not thought this through, so maybe someone else can improve on my question...
Elsewhere I posted about a few Republicans changing their attitude
towards Grover Norquist's pledge to never raise taxes.
Those Republicans, and a few others, are saying that they are not willing to raise the tax rates,
but instead want to "raise revenues" by closing loopholes and "capping the deductibles".
One of them said that capping deductions at (maybe) $30K - $40K
might be acceptable, but only if the Democrats would cut entitlements.
So, my question is this:
Why are Republicans pushing the idea of capping deductions ?
<snip>
Why is that OK with Republicans ?
<snip>
I like xoB's current signature: "Everything is interesting... look closer"
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Today the Republicans have made public their budget proposal...
L.A. Times
Lisa Mascaro and Michael A. Memoli
12/12/03
Republicans counter with their own 'fiscal cliff' plan
Quote:
<snip>
Obama seeks $1.6 trillion in new revenue over a decade with a tax
increase on the wealthy and a broader overhaul of the tax code,
while Boehner's proposal would raise half that amount.
At the same time, Boehner proposed $1.4 trillion in spending cuts to
Medicare, Social Security and other programs favored by Democrats.
Obama has offered $400 billion in cuts.
Obama is also seeking new investments to stimulate the economy and
wants to continue long-term unemployment insurance and the temporary reduction
in the payroll tax. Republicans did not address them.
<snip>
Studies have shown that almost as much revenue, about $800 billion,
could be generated by the GOP plan to limit deductions as by
Obama's proposal to raise rates on the wealthiest 2% of Americans.
But that revenue might never be realized if next year's
tax code overhaul results in lower rates, as the GOP proposes.
Democrats appear unwilling to take that risk.
<snip>
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So is this last bit the real answer to my questions ?