[reaganaut1]

Full report here.

[Mojave]

No mention of the Laffer Curve.

[jroneil]

Collapse the dollar repay in cheap dollars

[ladyjane]

Tax rates triple?

Since half the people in this country pay zero taxes, and zero times three still equals zero, how would that all work?

[goldstategop]

Its not going to happen. The Democrats are tax happy but not suicidal. A triple digit tax increase would be havoc for them in an election year.

"Show me just what Mohammed brought that was new, and there you will find only things evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelogus

[Jim Robinson]

LOL! And choke off all economic activity.

[EagleUSA]

Obama’s path to radical socialism — debase the dollar. Bank on it.

[Jim Robinson]

Stop the fricken spending already!! Obama and the socialist big spenders must go!!

[Signalman]

Maybe the IRS can borrow the Canadian form:

[rfp1234]

To Close the Deficit, Federal Income Tax Rates Rats Would Have to Nearly Triple

[livius]

Meaning we’ll have to pay 120% of our income?

[Mygirlsmom]

Instead of taxing joint filers with rates ranging from 10 percent to 35 percent....

There is no 10% bracket in 2010

[familyop]

Or the dollar would have to fall internationally by that much.

[KoRn]

That would destroy our way of life within a few years.

Spending must be cut, and entire agencies/programs must be eliminated.

[reefdiver]

Nancy is going to steal your savings from your 401, and Pensions

[Caipirabob]

To Close the Deficit, Federal Income Tax Rates Would Have to Nearly Triple

Or entire departments of Federal Government would need to be disbanded. Guess which one won't lead to revolution?

[Graybeard58]

total tax rates would be well over 100 percent for many households," he said.

I thought I was already paying more than that.

[Deo volente]

There’s no way out of the deficit dilemma without a VAT (Value Added Tax).
It’s coming, and it will absolutely crush the middle class.

http://money.cnn.com/2009/06/05/retirement/next_crisis_americas_debt.fortune/index.htm

[sickoflibs]

The Peter Schiff/Redistribution Watch Ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)

The conventional wisdom both parties is that we can devalue the dollar forever and soon the foreigners can hire us all for free. Wait, is that good??

[BP2]

Does this take into account a declining tax base as Baby Boomers leave the work force?

[Myrddin]

I'm already losing half of everything I earn to taxes. Triple? I'll take a job a Jack in the Box or Walmart instead of one doing software engineering at nearly $150k annually. The thieves in DC don't understand that people won't pull the cart if there is no reward for the work.