another Blue Ribbon Farce...we will be belly up as a nation long before anything from this gets implemented...hopefully Bro Versus The Volcano will return soon to save the day with his brilliance
Bowles and Simpson also are proposing a fundamental rewrite of the tax code,
though they didn't offer a specific plan.
But the goal is to lower overall tax rates, simplify the code and broaden the taxpayer base. One option proposed is to
completely eliminate so-called tax expenditures — including popular deductions like the mortgage interest tax break and a deduction taken by companies that provide health insurance to their employees.