Advancing a Free Society

Why I oppose the Gang of Six plan

Thursday, July 21, 2011

If you’d like to understand the details of the Gang of Six plan, please read my (quite long) earlier post.

I strongly oppose the Gang of Six plan. I think it is absolutely terrible fiscal policy.

First I’ll flag a few things I like in the plan.

  • I support making a technical correction to CPI, even though it would result in higher revenues.
  • Repeal of the CLASS Act is great.
  • It’s good they included medical malpractice reform.

That’s it. Others right-of-center are salivating at the low marginal income tax rates described in the plan, both for individuals and corporations. I think those low rates never materialize, for both arithmetic and legislative reasons, and explain why below.

I make a lot of assertions in the following argument. For backup, please see my earlier explanatory post, which contains links to the Gang’s source documents.

Here are 17 reasons why I oppose the Gang of Six plan.

Continue reading Keith Hennessey…

(photo credit: graham_alton)