Raising revenues: Republicans still against higher tax rates. Only for closing loopholes.

[Justice]

Don't be fooled by the news that key top Republicans are for raising revenues and thus breaking their pledge to Norquist.

The Republicans (McCain and Graham et al) are for closing loopholes - scaling back tax deductions and credits. The Republicans want to impose “a limit on the amount of deduction on charitable giving, a limit on the amount you can take on your home loan mortgage deduction.”

McCain and other Republicans are still very much opposed to raising tax rates.

So they aren't for raising rates on wealthy, but they are for punishing the middle class and the charities.

There should be no discussion about anything (entitlement reform or closing loopholes) until Republicans agree that raising tax rates on the wealthy is in the equation. Full stop.

[graham4anything]

1. Let's get rid of a separate capital gains section, and make all gains fully taxable.

capital gains is the area the rich make out on.

wish I had some.

but the damn thing about the rich is, like Karl Rove, they won't be poor or stop.

they already have more money than a million regular people need in a lifetime, so it really is just chatter.

Just up those who don't have to pay say on the first $75,000 and start then with the current tax brackets. That alone would help and make the taxes easy so you don't waste money on a cpa

[GoCubsGo]

2. I'm not fooled by them at all.

Nothing but the usual weasel words, as Barney Frank would say. The real disgusting part about it is that our whore media is selling that as "The republicans seem to be cracking on their tax pledge." Pure bullshit. I just hope the rest of the country is not fooled, either.

[CanonRay]

3. Which they will never actually close

Those loopholes belong to their constituents. If they close four, they'll open five new ones in the fine print.

[MrYikes]

4. All income above $250k is taxed at 65%.