The Dems do want to keep a few of their cherished tax credits, of course...
“To help pay for lower rates, the plan would reduce popular tax breaks for mortgage interest, health insurance, charitable giving and retirement savings. *Other tax breaks would be spared, including the $1,000-per-child tax credit and the earned income tax credit...”
http://www.dailymail.com/News/NationandWorld/201107201223
Just more redistribution of wealth. The tax code should NOT be used for social engineering.