Now it’s the Domenici-Rivlin plan to cut the deficit

November 17, 2010

Alice Rivlin (who is on the Obama deficit commission) and former Senator Peter Domenici have cooked up their own plan to restore America’s long-term fiscal solvency. But first, a chart from the plan itself that says a lot:


Liberals hated the Bowles-Simpson plan because it used some of the savings from eliminating tax breaks to lower tax rates. Well, this plan does the same thing — but it also tacks on a national sales that will raise nearly $20 trillion (for a net $6 trillion tax increase) between 2012 and 2040. Conservatives will not be happy:


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