My new Townhall.com column, “Breaking the Back of the GOP Base,” addresses why the deductions the Toomey-Hensarling tax hikes attacks are central to the tax code and why cutting them would be an economic, political and social disaster.
The good news is that the Supercommittee appears headed to failure as Democrats attempt to leverage out of the process even more taxes than the GOP already unwisely put on the table and have still refused to release even the outline of fundamental entitlement reform, which is the key to saving the fiscal future of the country. Politico has the details, but the bottom line is that spending cuts v. taxes hikes as the key to our economic future will be the central debate of the 2012 elections. The GOP is nuts to muddy up that distinction by putting forward proposals that would raising taxes on millions of Americans by cutting their deductions, and especially to do so without ever vetting such a radical plan with voters.
“Trust us,” we are told by many, “the deal is a good one when everything is added in.”
But why would you trust a party that campaigns on a Pledge and then negotiates a key deal that is nowhere mentioned in the Pledge, parts of which are antithetical to the Pledge?