$300 Billion in New Taxes for the “Soon-To-Be Not-So-Rich”

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IF THE TAX-CUT PEOPLE DON'T WORK THIS OUT, THE MILITARY GOES DOWN

What can we expect from a committee in which John Kerry is considered the moderate?

First we hear from Rand Paul that The Super Dems walked out on the Super Committee on Deficit Reduction Committee.

Rand Paul told Hannity “I have news straight from sources close to the Super Committee that the Democrats have walked away from the table and they’re refusing to talk to the Republicans about a deal and they will not counter any offers and basically there’s an impasse and it’s starting to look like they don’t want any deal at all.”

“…Republicans have offered tax reform that lowers tax rates and closes loopholes.The president talks about millionaires not paying their taxes, we are trying to close some loopholes, but we want to be part of tax reform. We have offered a serious credible offer, but basically they have walked away from the table.”

Obama tripled the deficit above a trillion dollars for the third straight year (Gateway Pundit)

The Democrats then said that they did not walk out and are sitting at the table waiting for a reasonable offer but the Republicans want massive tax rate cuts for the wealthy.

(We really need hidden videos and tape recorders at all times to try and sort out the truth)

Then there is this today, the National Journal just broke the news that Senate Republicans on the deficit-reduction Super Committee have caved on tax increases, and are now prepared to accept $300 billion in a soak-the-rich elimination of deductions:

Senate Republicans are willing to accept up to $300 billion in net tax increases over 10 years as part of a potential super committee deal, aides said on Tuesday. The Republicans called the move a major concession; Democrats said it was a public relations ruse.

A GOP aide to a super committee member said the “centerpiece of the plan” would be Republicans accepting elimination of tax deductions associated with wealthy Americans in exchange for a permanent reduction of reduced marginal tax rates set during the Bush administration.

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