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Ben Cardin (D-MD) Confirms Max Baucus Offering 50-Year "Shield" For Tax Reform Recommendations

Alexa's picture

On the road, but just heard the following on C-Span's "Washington Journal" with Peter Slen (host) and Senator Ben Cardin (MD), Finance Committee:

Finance Committee Chairperson Max Baucus is going to grant a 50-year "cover" or shield regarding all recommendations made to overhaul the Tax Code.

This confirms that the Dems are getting ready to lead the charge to "give a haircut" to the American People (on taxes, in exchange for beginning to dismantle the Social Safety Net).


Cardin refers to Bowles-Simpsom as Gold Standard (which they are pursuing) to reduce the deficit.

[Will try to "clip" this portion of the program when we arrive destination. This is even worse than I've been suspecting. PLEASE call your Senators and Reps and protest the "Grand Bargain"--trading tax revenue for cuts to Social Security and Medicare!!!}

Hope someone can follow up. (Not much I can do on this for a couple of days, at least.)

This is unreal--and unacceptable!

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beowulf's picture
Submitted by beowulf on

Finance Committee Chairperson Max Baucus is going to grant a 50-year "cover" or shield regarding all recommendations made to overhaul the Tax Code.

Didn't understand what this meant at first... Its bad enough that since the Carter Admin the govt's standard declassification delay went from 6 years to 25 years, here's Baucus wanting to keep secret Finance Committee discussions for 50 years. What an idiot.

Rainbow Girl's picture
Submitted by Rainbow Girl on

... to 10% (in the great PPACA, of course) as the threshhold for self-insured self-employed people before they can claim deductions for all their health care costs?

Because that is effectively a 2.5% tax increase [hidden as one of the many anti-99.9%er Easter Eggs within "health care" legislation -- ObamaCare] on impoverished middle class americans (in fact, among the very people that ObamaCare is supposed to "help") that Democrats clearly signed on for and apparently have gotten away with nobody noticing. (Except one Republican who screamed for a couple of days in right-wing MSM.)

So I could see where Baucus and especially Cardin -- in addition to wanting to make sure none of us witness how Democrats on the Committee are gung ho to makes taxes even more regressive on the poor and middle-class in the "Grand Bargain" proceedings -- would want to keep this s***t secret.

Most transparent government EVAH. Plus, Obama is an ass***e.

Alexa's picture
Submitted by Alexa on

It's not just "self-employed"--this applies to anyone who itemizes their deductions when they file federal income taxes.


In 2012, those who itemize on their federal income tax returns can deduct health care expenses that exceed 7.5% of adjusted gross income (AGI). In 2013, this percentage will increase to 10.0% of adjusted AGI.

Here's the link.

I don't know which Committee (or persons) are most responsible for this change. My impression is that the Administration wanted this change. But I don't know for sure.

Submitted by marym on

From The Hill

Senate Finance Committee Chairman Max Baucus (D-Mont.) and the panel’s top Republican, Sen. Orrin Hatch (Utah), assured lawmakers that any submission they receive will be kept under lock and key by the committee and the National Archives until the end of 2064.

Deeming the submissions confidential, the Senate’s top tax writers have said only certain staff members — 10 in all — will get direct access to a senator’s written suggestions. Each submission will also be given its own ID number and be kept on password-protected servers, with printed versions kept in locked safes

.

katiebird's picture
Submitted by katiebird on

I've been driven insane.

Next thing I'll dream is that the legislation itself will be classified and locked up for 50 years.

Alexa's picture
Submitted by Alexa on

Hopefully we can STOP this legislation.

This will be a diaster.

Imagine a Democratic Party President signing in the largest "austerity measure" in the history of the country!

And adding insult to injury, "shielding" the very lawmakers who are his henchmen.

Surely we (the progressive community) can stop this bill, if we get the word out.

What citizen(s) would possibly be in favor of such a hideous law (the "Grand Bargain")?

Remember, Bowles-Simpson's proposals go after the working and middle classes--NOT the wealthy! The wealthy benefit from most of their policy recommendations.

katiebird's picture
Submitted by katiebird on

Then we'll have to assume that Everyone who votes YES, is equally responsible for everything included in each bill -- just as if each legislator proposed it personally.

We're getting very close to the point where we have to defeat all incumbents, maybe forget the 3rd party/independent idea for a cycle. .... Start over with 468 new bodies (all Congress & 1/3 Senate).

THEN go for 3rd party.

I know, it's not gonna happen. But, what are we supposed to do?