Obama’s Debt Commission Chair’s Speak Out! To Increase Govt Revenue We Must: Lower the tax rates to 8, 14 and 23%. Make a new lean tax code. Lower the corporate tax rate. Public sector unions over reach. Democrats not serious about budget. Republicans should push for larger cuts.
Posted by iusbvision on March 8, 2011
UPDATE – Worlds largest bond fund dumps U.S. Treasuries – LINK.
Great interview. All credit to Erskine Bowles, who used to be one of the nastier partisan Democrat hired guns. He has almost completely adopted a near Steve Forbes like tax agenda, because that is the best way to raise government revenue. Bowles even makes the case that Democrats need to get real on spending cuts and that Republicans aren’t pushing hard enough. I am in awe. Bowles has even says that unions have over reached. I am sure Bowles is feeling the heat from his former colleagues. I never thought I would see myself typing these words; Erskine Bowles has earned my respect. My hat is off to his courage.
Bowles even uses the same analogy IUSB Vision does almost verbatim from the link. The deficit in February was $232 billion (yes that is for a single month), which is substantially higher than the entire yearly deficit the last year the Republicans had fiscal control (2007).