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If they found a trillion that easily it just means they could cut 3 trillion.
That's what some on the left and right agreed to without taking on their own sacred cows. I the left would confront the fact that we need to shrink government and if the right would confront the fact we need more tax revenue, then we could easily get to 4 trillion in deficit reduction and get our AAA rating back.
I'd support this proposal if they included "Restore taxes to Clinton-era levels" Wonder why they omitted that obvious suggestion?
Since the two groups ignored increased revenue in their proposal, I'd say they are most likely corporate-sponsored lobbyists, trying to deflect the committees' attention away from their fat-cat clients' bank accounts.
That's what some on the left and right agreed to without taking on their own sacred cows. I the left would confront the fact that we need to shrink government and if the right would confront the fact we need more tax revenue, then we could easily get to 4 trillion in deficit reduction and get our AAA rating back.
i rather like the plan, it is a good start. and i agree that government needs to be shrunk, and we need more tax revenue. understand however that more tax revenue does not mean higher tax rates.
The Volumetric Ethanol Excise Tax Credit is a refundable tax credit that pays blenders for every gallon of ethanol mixed with gasoline.
You should be aware that the elimination of that program would result in a permanent increase in gasoline prices. It would only be a few pennies per gallon of gasoline at most.
Just some quick math, $60 Billion and ethanol production was 13.2 Billion gallons in 2010. Uh, that $4.54 per gallon. I may have to revise my statement on that. No doubt ethanol production increased by at least 1 Billion gallons this year.
We'd have to see how that would play out. It will be more than just a few pennies at the pump.
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