Tony Auth on the Supercommittee's upcoming deadline

[flpoljunkie]

Better lay an egg, than sell out the American people with yet more income inequality like Hensarling's recent offer to raise $250-$300 billion in revenue--while at the same time lowering the top rate from 35% to 28%! Jared Bernstein is right-no deal is better than what Hensarling has offered.

[flpoljunkie]

1. More on Hensarling's offer...

Hensarling then added, "We put $250 billion of what is known as static revenue on the table, but only if we can bring down rates. We believe we can bring the top individual rate down to 28, 29, maybe at most 30 percent, and bring the corporate rate down to the median of the EU, 25 percent." For emphasis, he said, "We have gone as far as we feel we can go."

The Texan was referring to the Sen. Pat Toomey plan, which would lower the personal tax rate to 28 percent and head down from there, while at the same time putting limits on personal deductions (such as mortgage interest) for upper-income taxpayers. In other words, flatten the rates and broaden the base.

http://www.realclearpolitics.com/articles/2011/11/17/a_super_tax_hike_spells_disaster_112095.html