From Grover Norquist on Newsmax.com: In his speech last week, President Obama called for higher taxes on the American people. But just in case a reported $2 trillion over the next 10 years isn’t enough to bring deficits under 2.8 percent of GDP…he also wants to impose an automatic tax hike ‘trigger’ on top of that…What would this tax hike “trigger” look like?…To ensure Congress moves quickly to enact comprehensive tax reform, the Commission recommends enacting a ‘failsafe’… If Congress and the Administration do not act, the failsafe would impose either: 1) an across-the- board reduction of itemized deductions, above-the-line deductions, non-refundable credits for individuals, the income tax exclusion for employer-provided health care… 2) a trigger which reduced tax expenditures further and moved rates and expenditures down toward the levels specified in Recommendation 2.1, assuming such a trigger met the same revenue and progressivity targets.”
“A Careful Look at ObamaCare” posted by ATR, is featured on Forbes.com.“A word search of the 2,409-page Patient Protection and Affordable Care Act (H.R. 3590) and the 150-page Health Care and Education Reconciliation Act of 2010 (H.R. 4872) reveals that the term ‘tax’ is used 255 times, ‘taxable’ is used 208 times, and ‘excise tax’ is used 17 times.”