This plan would choke the economy. Getting rid of things like mortgage deductions and income tax exclusion for employer healthcare are great ways to slow housing and job recovery. Also, a 40 percent tax rate is ridiculous. No one should owe the federal government 40% of what they earn. Nor should they owe 15% or 25% of what they earn for that matter.
I think that we've got to go off this "cliff" and let it roll. I think this is a better "grand" "bargain" than any plan I've seen yet.