At this moment the Gang of six report is only an outline on a few pieces of paper.While it sounds promising, the details are what is important.
I heard nothing about capitol gains rates.Nor did I hear about deductions that many of us take such as mortgages,charitable deductions and so on.
While it sounds good to simplify the tax rates,and get rid of the alternate minimum tax,someone like myself totally depends on my accountant.Therefore at present am ignorant as to what this proposal would mean for someone like me-increase-decrease or no change.
Of course this will not impact on the debate on raising the debt ceiling, unless a smaller debt ceiling increase is voted upon to give Congress a chance to discuss the plan and to ascertain if the economy will grow as they hope to allow for revenue enhancement.
The problem in the past is lots of promises made to reduce spending in the future-which never materializes.
The bill introduced yesterday by House Foreign Affairs Chairman Ileana Ros-Lehnitin, cutting off US funding for the PA if they refuse to recognize Israel as a Jewish State.In addition it would mandate moving the US embassy in Israel to Jerusalem in 2014,and there would be NO waiver that would allow the Pres, to refuse. She is right on target.As pointed out here months ago, Israel has no better friend than her.
Smile of the day,is the news that the US helped fund a study of the Penis size of homosexuals -at a cost of $750,000.Since this was done a few years ago,it sounds like an elongated study.