WASHINGTON — With both parties positioning for difficult negotiations to avert a fiscal crisis as Congress returns for its lame-duck session, Democrats are latching on to an idea floated by Mitt Romney to raise taxes on the rich through a hard cap on income tax deductions.
Romney's version of the proposal came with a reduction to the tax rate. Why do I have a difficult time believing that the Democrats are envisioning embracing that part of the proposal in addition to the part about a cap on the amount of deductions allowed?
I kow a few of my democrat associates are wanting reduced taxes. And GASP I have a few that have Cayman bank accounts.
They mentioned they would like to see NO tax on offshore accounts.
