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To: HOYA97
That's part of the Gang of Six compromise.

I just heard him on Hannity; he said that getting rid of the charitable deduction, and getting rid of the home mortgage interest deduction would cause too much fallout, so there would be some givebacks when eliminating these tax expenditures.

He likened it to Reagan in 1986, that tax expenditures were eliminated in favor of lower tax rates.

He also said "We all know what Washington is like" and that while he thought all the GOP members of the Senate would vote for Cut, Cap, and Balance, that it probably wouldn't pass and they needed a fallback position.

Final outrage was that he said he'd love for the Bush tax cuts to continue, but "let's be realistic, it isn't going to happen."

Pitchfork. Tar. Feathers. Traitorous lardball. Some assembly required.

It is terrible to contemplate how few politicians are hanged -- G.K. Chesterton

37 posted on 07/21/2011 3:38:57 PM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: Admin Moderator

Can we put this in breaking news given today’s events? I understand if you can’t.


38 posted on 07/21/2011 5:07:37 PM PDT by HOYA97 (twitter @hoya97)
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