General Discussion
In reply to the discussion: CALL CONGRESS RIGHT FUCKING NOW!11!!1!! [View all]Samantha
(9,314 posts)I was submitting another response as you were posting this. Take a look at the chart I posted below in another post.
The real kick in the belt for me is when I hear that Dems are saying they won't consider an extension unless a "Grand Bargain" is achieved in trade. The Simpson-Bowles plan had a couple of acceptable recommendations, but when one wanders further into the weeds, it is very upsetting, especially when we see some of the income tax deductions proponents of that plan would discontinue. A great example of that is the mortgage interest deduction. What thinking, rationale person would actually defend that point when looking at the state of our housing market? A driving factor to purchasing homes was promulgated in years gone by the ability to deduct mortgage interest from one's taxes. So if that is stricken, what will that do the incentive of many buyers who find buying a home just not as attractive an option.
And that recommendation on altering the way Social Security cost of living increases are awarding is another shot at the wallets of seniors.
"The plan raises taxes and cuts spending for $4 trillion in savings over the next 10 years. It cuts Social Security by raising the retirement age and reducing the payout for many workers and reducing cost-of-living adjustments. The plan also increases costs for some Medicare beneficiaries and eliminates most tax expenditures but lowers individual and corporate rates to 29 percent."
The above quoted material can be found here:
http://www.huffingtonpost.com/2012/05/04/jamie-dimon-simpson-bowles-plan_n_1478484.html
SO THE ESSENCE OF THE ARGUMENT THESE DEMS ARE PROMULGATING IS THIS: WE WILL EXTEND THE BUSH TAX CUTS FOR THE WEALTHY AS LONG AS WE STRIKE A GRAND BARGAIN CUTTING ENTITLEMENTS AND OTHER PROGRAMS WHICH WILL ADVERSELY IMPACT THE WALLETS OF THOSE WHO MOST NEED MORE MONEY IN THEIR POCKETS.
Just how stupid do these Dems think its base is?
No Simpson-Bowles Grand Bargain; no extension of Bush* tax cuts.
Sam