“The 14th Amendment does not allow Obama to ignore the debt ceiling, but it does allow him to impound spending that would cause a violation of the 14th Amendment. By impounding tax expenditures, Obama will effectively raise taxes to avoid a default. http://sunsettheirs.org/theory-of-inverse-impoundment”
“The generally accepted view that we must default or cut spending is not correct. Another option exists - President Obama can raise more revenue by cutting tax expenditures. In other words, raise taxes by removing tax deductions and credits. That gives an extra trillion dollars a year to spend. http://sunsettheirs.org/leaked-draft-executive-order-on-debt-ceiling”
RUKidding0 on May 19, 2011 at 19:08:45
“The very term, "tax expenditures" is bastardization of language for partisan political gain.
Tax increases by any other name smell as foul.”
Tim1999 on May 19, 2011 at 18:56:21
“I agree, let's start with the mortgage tax deduction, move to the child care credit and them remove the personal exemptions for everyone. That ought to raise sufficient revenue. You dunce, that has to be done by law not executive order.”