HARRISBURG PATRIOT-NEWS: …. [Sen. Pat] Toomey has made the big leap to saying he is willing to go along with revenue increases, but he wants them to be “pro-growth” friendly.
He’s right. President Obama’s National Commission on Fiscal Responsibility and Reform — more commonly known these days as the Simpson-Bowles framework after the Republican and Democratic chairs of the commission — recommended that America reduce its tax rates and simultaneously eliminate all loopholes and most tax breaks for the wealthy.
This kind of tax reform would entail items such as capping itemized deductions, something far more likely to impact wealthy individuals. According to the Simpson-Bowles report, these tax reforms would generate more revenue and make the tax code fairer and simpler… (more)
