'Gang of Six' Comes Out With Deficit Reduction Plan

[Gustaf]

"Deficit Reduction Plan" + "$1.5 Trillion tax decrease" =

Wake me when congressional Republicans learn basic arithmetic.

^^^^^^^^^^^^
Not like anybody enjoys taxes, but you can't be all holier than thou about debt and constantly seek to end revenue for the government. They are mutually exclusive.

That's actually not necesarily true. From what the article said, it seems like the proposal is to simplify the tax code while cutting some rates. That can often be done without any fall in revenue. I don't know enough about the details here to know if such is the case, but it is at least possible.

[Gustaf]

Wait, am I understanding the smoke and mirrors correctly here? Is the whole idea that they can claim a tax-cut by comparing with after the expiration of the Bush tax-cuts while at the same time increasing revenue by letting them expire?

[Gustaf]

Not like anybody enjoys taxes...

Not so - I very much enjoy taxes, because they take money away from the privileged.  And of course taxes on the top echelons of the social hierarchy are positively orgasmic.

Won't that diminish your inheritance?

[Gustaf]

Not like anybody enjoys taxes...

Not so - I very much enjoy taxes, because they take money away from the privileged.  And of course taxes on the top echelons of the social hierarchy are positively orgasmic.

Won't that diminish your inheritance?

Estate tax is a one time fee.

I'm not talking about the estate tax - taxes paid now by his wealthy family will diminish his future inheritance. Presumably, it would also make them less likely to give him money now.