Posted on 07/13/2011 9:41:36 PM PDT by rabscuttle385
As Congress and the president try to strike a deal to cut spending and raise the debt ceiling, one Republican Senator tells ABC News that prospects look bleak.
“Right now I’m very worried,” Senator Lindsey Graham (R-S.C.) told ABC News “Subway Series.” “If I were a betting man, I’d bet no [deal].”
(snip)
Senator Graham said Republicans should be willing to accept a deal that curbs entitlement spending and increases tax revenues by closing loopholes.
(snip)
The obvious solution, Graham said, is for Republicans to give some ground on taxes and for Democrats to give some ground on entitlements. But he doubts negotiators will get there before August 2nd.
(snip)
“You're giving money away to a few people at the expense of many, and I think it's time to reevaluate that,” Graham said. “If you did away with all deductions and exemptions except charitable giving and the mortgage interest, that's $1.2 trillion that's spent every year.”
(Excerpt) Read more at blogs.abcnews.com ...
Sure. Boner has no intention of repealing it nor does the GOP. People are such suckers.
Graham’s choice of words is not a mere linguistic tic owing to his choice of associates: it reflects the common assumption in Washington that all money belongs to the government, and only their favor allows you to keep whatever portion of it they deem necessary and desirable.
I’m not worried that Lindsey’s worried, but that SC voters are too uninformed to know the truth about Lindsey.
No, most can’t take health care deductions because of the 7.5 percent threshold of Line 33. And most can’t file long forms after they have paid off initial home mortgages.
Hey, you! It’s good to see you!
I know that most can’t deduct their healthcare, but mortgage interest and charitable deductions? You bet your sweet bippy they/we/you can now.
Unless, Obama has his way...then both home ownership, and charities will fall by the wayside.
Then, what will the government do about that?
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