http://online.wsj.com/article/SB1000...IDDLTopStories

I think this one will die long before it gets too much discussion.

It may have the potential for France-like protests.

What do you think?

btk

When money was short in our family, we cut back spending across the board. My dad always said, "If you do not have money, you cannot spend money you do not have". Sounds like our government hasn't learned that little common sense approach, ya think??

Personally I think it's a *good* idea that the panel isn't coming out with it's report until after the election. At least that'll be one less thing people will try to misinform others about in THIS cycle. With it being released afterwards, there's less political pressure going on - though it won't seem to matter as everyone will still go all "Chicken Little" all over the place regardless of the recommendations.

It'll be like the Grace Commission all over again - recommendations to trim the deficit in Reagan's era that had people screaming inanities and taking bits and pieces out of context.

I'll give you an example - remember Steve Forbes' "flat tax"? Yeah, you'd give up some "sacrosanct" deduction in exchange for a lower *flat* rate. Tax planning would be as easy as you could imagine. By eliminating deductions, the rich wouldn't be able to hide as much income and class warfare would be reduced as 'the poor' would know that 'the rich' were paying their fair share (even though they already pay the majority).

So it get's attacked by using only half the story "Steve Forbes wants to take away your home mortgage interest deduction!".

And once again, we prove how smart "a person" can be while simultaneously proving how stupid "people" are.