Originally Posted by Villages Kahuna

If I understood the "grand bargain" being considered by various parties on both sides before the watered down version finally got approved, a corporate tax rate reduction was to have been included. I believe it was to have been financed with a rework of the tax code, a flattening of the personal marginal rates, elimination of the loopholes and lobby-caused tax benefits, plus an increase on the personal taxes of the wealthiest 1-2% of Americans.

Now we're stuck with a deal where the Bush tax cuts can expire, which politically will almost certainly will be permitted, a piddly $915 billion in spending cuts to occur three years from now, and relaince on a super committee who no one believes will reach any consensus on what will be done.

Whoever was responsible for killing the grand bargain didn't do the country any favors.