Social Security Benefit Cuts, Tax Overhaul Mulled by Bipartisan Panel

Raising the Social Security retirement age, simplifying the tax code so more Americans pay a lower tax rate, ending tax deductions for mortgages, and cuts to discretionary spending are the cornerstone recommendations being mulled by a special commission set up by President Obama to chart a path for dealing with the national debt which is nearly $13.8 trillion and growing. Taken together, the cuts in spending and Social Security and requiring more low-income Americans to pay taxes would fix the...Full Story
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