Dean Baker on the “Gang of Six” Budget Plan

The budget plan produced by the Senate’s “Gang of Six” offers the promise of huge tax breaks for some of the wealthiest people in the country, while lowering Social Security benefits for retirees and the disabled.

In short, this is a plan that should be expected to please the wealthy since it will mean large reductions in their tax liability in the decades ahead. On the other hand, most of the rest of the country is likely to feel the effects of lower Social Security, Medicare and Medicaid benefits, in addition to other cuts that are not yet fully specified.

Dean Baker

It is worth reading the rest of the press release, which is fairly short, but detailed.

 

Advertisements

8 thoughts on “Dean Baker on the “Gang of Six” Budget Plan

  1. Paul, thank you for this link. I am completely bewildered by Obama’s “chess” moves. This may present an opening for me to understanding.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s