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Another day, another idea...
From The New York Times:
Debt Reckoning: The Fiscal Deadline in Washington - NYTimes.com
The actual plan can be found at: http://www.americanprogress.org/wp-content/uploads/2012/12/CAPTaxPlanReportFINAL.pdf
Although this plan claims $4.1 trillion in deficit reduction, a closer examination reveals that part of this figure includes $1.5 trillion in savings already enacted (see p.21). Therefore, the actual new deficit reduction would come to $2.6 trillion.
From The New York Times:
Democratic luminaries with ties to the Obama and Clinton administrations, including two former Treasury secretaries and two former White House chiefs of staff, on Tuesday will enter the tax debate with an overhaul plan that would raise an additional $1.8 trillion in the first decade.
That is $200 billion more than President Obama has proposed and $1 trillion more than Republicans in Congress support. It would mostly result from a simplification of the tax code that produces higher taxes from the wealthy, but would also involve higher taxes on cigarettes, alcoholic beverages and Internet gambling that would hit people of all incomes.
Debt Reckoning: The Fiscal Deadline in Washington - NYTimes.com
The actual plan can be found at: http://www.americanprogress.org/wp-content/uploads/2012/12/CAPTaxPlanReportFINAL.pdf
Although this plan claims $4.1 trillion in deficit reduction, a closer examination reveals that part of this figure includes $1.5 trillion in savings already enacted (see p.21). Therefore, the actual new deficit reduction would come to $2.6 trillion.