WASHINGTON (CNN) – Another influential Republican senator on Sunday backed increasing tax revenue as part of a deficit reduction deal, going against a fundamental stance of fiscal conservatives.
Sen. Lindsey Graham of South Carolina said eliminating some tax breaks and subsidies for special interests was one way to tackle expanding deficits.
It's hard to build a house without paying for it. They're FINALLY getting the message. Just don't put it all on the backs of the poor and the elderly and children. Make the fat-cats with their billions pay their share - close the loopholes.
I saw Senator L. Graham on MTP and was predominately impressed with him for his pragmatic and logical position. Were he running for President, he would immediately be the most level-head and detailed solutions based candidate in the GOP. I fear though that any quest to win the Republican nomination would pervert his thinking.
One squishy point that David Gregory DID NOT probe with Graham was his inconsistent language regarding revenue.
He said he was a proponent of a "FLATTER" tax system that would RAISE revenue. He then equated "flatter" to the elimination of deductions & loopholes that allow some companies and individuals to AVOID paying taxes.
When a Republican typically talks about a "flatter" tax system, what they mean is lower tax rates for the wealthy – not repeal of the tricks their accountants use to skirt their responsibility.
Gregory missed an opportunity to get Senator Graham on the record on this key point and prevent GOP "double-talk" later.
Good for Sen Graham.
Tax and Entitlement Reform are essential for the economic future of the nation. The next step after that is a Balanced Budget Amendment the time is ripe for a major reduction in spending and to keep spending down! The final step is to reduce the run away inflation that stands at a artifically low level of 3.2-3.3 Percent and may be as high in real terms as 9.6 percent and M2 money supply that currently numbers some 9 trillion dollars in circulation which with a 2.2 trillion dollar reduction in that Supply can make magical things happen with a huge increase in Market Growth with a stronger currency that has a larger purchasing power with that the American Dollar will be able to outperform the Euro and possibly the Pound Sterling because we have to lead the way in rebuilding the worlds economy!
Reduced benefits and higher revenue = no deficit. Everybody gets to feel the pain – not just the old folks and the poor. That's fair.
TEG - you're way over the republicans' heads.