It takes honest wonks to open my eyes to the obvious. Krugman (via others):
The contortions Republicans are going through in an attempt to avoid raising tax rates are quite something, and they pose something of a puzzle: why are they making noises about raising revenue by limiting deductions, while still screaming bloody murder at any hint of a rise in tax rates?
…Under this particular proposal, everyone making more than 250K would pay more — but as a percentage of income, it would be significant for those making 400K, trivial for the Masters of the Universe making $10 million or more. And this is basically going to be true of any proposal that doesn’t actually raise rates.
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