Photo: Taormina, Sicily
The President's Commission on deficit reduction will have a lot of gifts for the wealthy in its report. The recommendations on tax reform, e.g., lowering the top marginal rate on the wealthiest Americans, will, if enacted, complete the return of this country (started by Saint Ronald Reagan) to the Age of the Robber Barons, before progressive taxation was first enacted. The gap between the wealthy and the rest of us will get bigger. I doubt that we can depend on Barak to reject the backward recommendations of his own commission.
Meanwhile, another commission, chaired by former Republican fat cat senator Pete Domenici, will recommend, among other things, cutting Medicare benefits and making seniors pay more out of pocket for medical care. So the wealthy will see their taxes cut and those least able to afford it will have to pay more for medical benefits. This country is sure headed down the shit tubes.
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