Tuesday, July 19, 2011

Coburn To The Rescue?

On the surface I like what I hear, mainly that the alternative minimum tax(AMT) will be scrapped.


It comes with tax revenues.
Coburn, however, noted the Congressional Budget Office would score the plan as a $1.5 trillion tax cut because it would eliminate the Alternative Minimum Tax. It would generate a significant amount of revenue out of tax reform and reduction of tax rates, which authors believe would spur economic growth.
I also agree with Rob Port that this deal is being done for the good of the country, and there will be some good stuff in this bill.
The downfall? Barry gets rescued...
Senator Coburn is a good man and I trust him, and I don't trust many in Congress.

Update:
Dipstick from North Dakota Kent Conrad is involved...It may not be worth the paper its written on.
In another politically risky move, the Gang of Six plan would achieve significant savings in healthcare programs, Conrad said. The specific spending cuts would be decided later by congressional committees.
To be decided later? Yea right Kent...

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