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View Diary: Sen. Chuck Schumer gets support of Harry Reid, White House on taxes (83 comments)

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  •  Let's just say that (0+ / 0-)

    it's his Gang of 8.   He appointed them, didn't he?

    •  Who? Obama doesn't appoint senators. (4+ / 0-)
      •  I thought we were talking (3+ / 0-)
        Recommended by:
        FG, PsychoSavannah, TimmyB

        the members of the Simpson-Bowles group.  My bad.

        •  Simpson, Bowles and Lloyd Blankfein of Goldman.... (4+ / 0-)
          Recommended by:
          corvo, smiley7, bontemps2012, 2laneIA

          were on CNBC this afternoon pushing for action and the CNBC panel were lubed up and ready to go.  After a half hour of their blather, the panel were hyperventilating over the Blankfein's assertion that if they could just pass Bowles Simpson the economy would explode into a million points of light and America would go mad with economic goodies generated by the "certainty" that business has been waiting for before it will invest.

          And where have we heard THAT kind of crap before?

          Of course there was lots of call for sacrifice and Bowles even allowed as how he would be willing to pay more taxes to "get rid of the deficit."  Hardly likely, under Romney/Ryan that old Erskine will have to sacrifice a sou to the cause.  But of course we have to "reform" Social Security and Medicare......and blah blah blah.....

          I truly fear though that we are going to win the election and then spend the next two and a half months as the boys in the back room negotiate a "grand compromise" that gives the Republicans everything they wanted....essentially lower taxes on the rich and everything else be damned.

          Free markets would be a great idea, if markets were actually free.

          by dweb8231 on Thu Oct 11, 2012 at 04:18:43 PM PDT

          [ Parent ]

          •  Bowles and Simpson both call for long-term (0+ / 0-)

            elimination of the Bush tax cuts -- both rounds of them.

            OPTION II -- that is what you need to analyze when you want a solid understanding of their views.

            OPTION I is a straw man. No one would want that.

            As unemployment has fallen, we are coming to the point where their plan can be implemented. No need to delay because the top 2% have next to no interaction with employment results. (Sorry, all you Freshwater econ dudes, this is a Balance Sheet Recession. The economics of Richard Koo rule the day.)

            Consumer debt has fallen $4-trillion.

            Simpson-Bowles Option II can be implemented directly with a simple "sunset" end to the Bush giveaways, followed by raising the payments to bottom-income recipients (to get everyone above poverty level) and giving early retirement to manual laborers. (Yes, that's 100% Bowles-Simpson.) And figuring out how to phase in the military and infrastructure changes.

            (I'd recommend moving all chronic care Medicare work to the Kennedy-Sanders Community Health Centers. Upgraded with the Veterans Administration management system, using VistA software and procedures. That invests a lot to diagnosis, then avoids bill-padding extra treatment.)

    •  Obama DID NOT appoint the 'Gang of 8" (2+ / 0-)
      Recommended by:
      smiley7, bontemps2012

      They appointed themselves as this 'gang'.

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