Shorter Excerpts (From A Work In Progress)
“The plan would cut the top individual tax rate to 29 percent from 35 percent, establish a single corporate rate and change how foreign income is taxed, eliminate the alternative minimum tax, and bring in $1 trillion in new revenue over 10 years by reducing tax breaks. The senators say it will amount to a net tax cut of $1.5 trillion. We’ll know more when all the details of the plan are released.”
View: Gang of Six Deficit Plan Could Save the Day - Bloomberg
More proof that GA-Senator Saxby Chambliss is a fucking idiot. The “Gang of Six” (he’s one of the six) plan to fix the deficit throws in $1.5 trillion in additional tax cuts. We’ll reduce the debt by adding to it! Take a pay cut at work so we can pay off our credit card faster! In a hole? We’ll dig our way out!
(“No, dig ‘up’, stupid.”)
