Tax Increases Being Proposed by Republicans on Supercommittee?
The Boston Globe had the story last week, but it has yet to make more national headlines. The story? Republicans on the Congressional Supercommittee have submitted a plan to raise taxes. The Supercommittee was conceived during the debt ceiling debate earlier this year and charged to produce a plan that would deal with the massive deficit in Washington D.C. The deal now being considered includes limiting deductions for interest on home mortgages and charitable giving. The deadline for a Supercommittee agreement is November 23rd, the day before Thanksgiving.
This is all one has to know when considering the Republican proposal:
Senate Majority Whip Richard Durbin (D-IL) was pleased that the Republicans were willing to discuss tax revenues. He called the change a "breakthrough" in the ongoing discussions.
When Dick Durbin is pleased about something, the country is in trouble.
J. James Estrada's LinkedIn profile can be viewed here: www.linkedin.com/pub/james-estrada/30/9a2/b71