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It’s catfood for you!

Giving us the first clear idea of their plans for managing the federal budget, the deficit fiscal commission’s Catfood Commission co-chairs, Erskine Bowles and former-Sen. Alan Simpson released a teaser report today with hints of the proposals they want accepted:

Panel Weighs Deep Cuts in Tax Breaks and Spending

The proposed simplification of the tax code would repeal or modify a number of popular tax breaks — including the deductibility of mortgage interest payments — so that income tax rates could be reduced across the board. Under the plan, individual income tax rates would decline to as low as 8 percent on the lowest income bracket (now 10 percent) and to 23 percent on the highest bracket (now 35 percent). The corporate tax rate, now 35 percent, would also be reduced, to as low as 26 percent.

As Susie Madrak says, “In other words, tax cuts for 2%, austerity for everyone else!Continue reading

Senator “Too Busy Campaigning” is looking for a cheap date

I’ve noticed that Hillary’s ideas are often derided as “stupid” by the OFB. In fact, my earliest memory of sitting up and noticing her campaign was while reading something at the Washington Monthly and a commenter condemned her stupidity for suggesting a freeze on adjustable-rate mortgages & foreclosure moratorium. This was back in December when a lot of people were still thinking that the housing bubble might be popping but, we’d probably have a “soft landing”. We don’t hear THAT talk anymore.

But, apparently her ideas are still stupid. This time it’s the Gas Tax Holiday. Which everyone from millionaire reporters to creative Obama Blogger Boyz knows will solve exactly nothing. The Gas Tax Holiday will do nothing for global warming or our dependence on foreign oil, will delay needed highway repairs and will only save an average of $30.00.

hmmmm. Oh Really? Continue reading