[invasuant]

http://www.rawstory.com/rs/2010/11/o...rporate-taxes/

The proposed simplification of the tax code would repeal or modify a number of popular tax breaks — including the deductibility of mortgage interest payments — so that income tax rates could be reduced across the board. Under the plan, individual income tax rates would decline to as low as 8 percent on the lowest income bracket (now 10 percent) and to 23 percent on the highest bracket (now 35 percent). The corporate tax rate, now 35 percent, would also be reduced, to as low as 26 percent.

The commission is also proposing that Social Security payments be increased, so that 90 percent of income is taxable, as opposed to 82.5 percent as is currently projected. Despite the increases in payments, the plan calls for a reduction in benefits for most Social Security recipients.

Additionally, the retirement age would be raised gradually, reaching 68 in 2050 and 69 in 2070.

[gardenerextraordinaire]

Well-that-will-certainly-help-the-economy.

Social-security-should-have-been-personalized-[not-privatized]-long-ago.

[cabonuserollyo]

I would like to see the "Fair Tax" plan used.