Reply #67: I haven't got all the details....

[femrap]

but from what I see, there will be a 'reduction' (not elimination) of tax breaks for the middle class such as:

Interest on the mortgage (this could put some people over the edge and closer to foreclosure). The Real Estate Lobby is pretty powerful and would fight this. (I believe the US is the only industrialized country that allows interest deduction on mortgages.)

Retirement Plans....what? No more tax reduction if you put money into an IRA, etc???

Family Dependents: I gotta say I am rather sick of giving tax payers more deductions for having a litter of kids. So I'm not too upset about that...but the Mormons will be!!!!

And lower tax rates for the Wealthy????

This Gang of Six (Warren of VA, Durbin of IL, Conrad of ND, Chambliss of GA, Crapo of ID, and Coburn of OK) are truly GANGSTERS....and the other political minions are getting behind this plan.

In sum, here's the rope-a-dope: USING THE DEADLINE OF AUGUST 2ND TO F*CK THE MIDDLE AND WORKING CLASSES UP THE ARSE.

And another thing: I've been wondering why Wall Street and the markets have been rather complacent about this 'DEFAULT' Threat....they KNOW what is going to happen: Wall Street will be A-OK and the rest of us will be SERFING, USA.