The CAP plan would eliminate deductions, close loopholes raise rates, implement new taxes, increase sales taxes, create new taxes... basically every form of a tax hike you can think of, all implemented on households with income above...
As the truth is broadcast it is drowned out by the sound of paper tearing to get after those Fed checks in the mail.
Last week, the progressive think tank Center for American Progress (CAP) released their tax reform plan [pdf], supported by prominent left-wing budgeters and economists like Robert Rubin and Lawrence Summers. The net effect of this tax reform plan is a massive tax hike on "the rich" in order to fall far, far short of the revenue necessary to eliminate America's deficit.
- Quotes of the day Allahpundit 39 mins ago
- Yep: MSNBC would react quite differently if Tea Partiers threw rocks at them Mary Katharine Ham 1 hour ago
- Finally: George W. Bush takes the ALS Ice Bucket challenge Allahpundit 2 hours ago
- WaPo/ABC poll: Majority approves of airstrikes in Iraq … Ed Morrissey 3 hours ago
- Report: Two times as many British Muslims fighting for ISIS as with U.K. armed forces Noah Rothman 3 hours ago
- All in: Red-state Democrat Mark Pryor launches rare pro-ObamaCare midterm ad Allahpundit 4 hours ago