Congressional Republicans are getting more audacious as each day goes by:
Republicans proposed cutting the U.S. deficit with a tax overhaul to yield about $300 billion and by raising the Medicare eligibility age to 67, said aides familiar with a congressional supercommittee’s talks.
Republicans, who until now opposed new tax revenue in any deficit plan, suggested reducing individual tax deductions, exclusions and other breaks and changing the way income tax brackets are indexed to inflation, a Democratic aide said. In exchange, Republicans called for chopping the top marginal tax rate to as low as 28 percent, the aide said.
In the past, when Democrats have insisted on new revenue streams via tax increases as a necessity to lower our national debt, they’ve been automatically derided by Republicans as instigating class warfare. Now, however, Republicans are saying that they will agree to tax increases as long as the Democrats go along with their plan to lower the tax rate for the highest income earners. So it’s only class warfare if members of congress the super-rich don’t get anything out of it? Now I’m confused.