Taxes and what is really going..?

Republicans shift stance on taxing wealthy, by James Politi, FT


Buoyed by his re-election, the president has said he is willing to compromise on fiscal policy but wants higher taxes on the rich as a condition of any deal. John Boehner, Republican speaker of the House of Representatives, has said he is willing to put “revenues” on the table, though he has not offered much detail on where those additional funds would come from.


I may be reading the lines too aggressively, but it seems that the Blues and Reds are really united to raise taxes. So far I’ve gathered that the Republicans are willing to eliminate deductions if Payroll tax is put back into place. In elastance, tax revenue is probably not where the true negotiations are occurring. The real negotiations have to be occurring on the spending side.

Personally I would like to see a cap on net-deductions, not the elimination of any specific deductions that could be biased against certain regions or states.

 WOW! It’s WebStory!
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