Crossposted from The People's View.
There's a storm over the release of the proposal of the two co-chairs of the Presidential Commission on Fiscal Responsibility and Reform. Especially when it comes to changes in federal health spending, the proposal downright stinks, and I will have more to say about the Social Security and Medicare provisions later. The proposal, however, is about more than just Medicare and Social Security. It is about a wide range of changes to the federal budget and the federal tax code. While a lot of it entails painful choices, the proposal presents some unique and valuable opportunities for progressives that most of the coverage is completely missing. So today I start this small series to cover Chairs' proposal in detail. Today's part will focus on the income tax reform proposals (both individual and corporate).
Before I go any further, let me say this: the proposal we are discussing is the Co-Chair's draft proposal, not one released by the entire commission, whose recommendations are due on December 1. When it is released, I plan to cover it in detail. Keep an eye on The People's View for coverage.
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