Simplifying the tax code, i.e. flat tax; eliminate “deductions” & replace with lowering the marginal tax rates... would lead to more revenue. This is essentially capitulation to Reaganism. It would be much better than the current status quo of fighting over whether or not to “extend the Bush tax cuts”.
If they “extend” the Bush tax cuts, I won’t see an extra dime. I’ll just be staying at the same rate. This is not Bush’s fault, it’s just a way of saying that Obama’s options are “raise taxes” (which is where we are headed now for all), “keep taxes where they are” (adopting a renewal of the Bush tax cuts), or “lower taxes” (seems to be off the table).