| "In less than two weeks, a cleaver known as the sequester will fall on some of the most important functions of the United States government....Last week, Senate Democrats produced a much better plan to replace these cuts with a mix of new tax revenues and targeted reductions. About $55 billion would be raised by imposing a minimum tax on incomes of $1 million or more and ending some business deductions, while an equal amount of spending would be reduced from targeted cuts to defense and farm subsidies. Republicans immediately rejected the idea; the Senate minority leader, Mitch McConnell, called it "a political stunt." Their proposal is to eliminate the defense cuts and double the ones on the domestic side, heedless of the suffering that even the existing reductions will inflict. " This piece explains where the ax will fall and how it will effect us. |
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At www.nytimes.com
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