The way I understand it, the $800B increase comes from taking away itemized deductions. In return, there would be lower marginal rates. More like the Bowles-Simpson plan.
I will take lower marginal rates any day as that means, I keep more of my earnings resulting from busting my butt even more.
I have read the some of the itemized deductions being taken away are home mortgage deductions and gifts to charity. Any word of what you have heard?