$26 Trillion in Tax Hikes Coming?

WASHINGTON, July 22 /PRNewswire-USNewswire/ -- The Obama Debt Commission's Democrat Co-chairman Erskine Bowles and prominent GOP Senator Judd Gregg (R-N.H.) today called for a massive, $26.7 trillion tax increase on the American people. In an interview today with ABC News, Gregg said the following:  “Everything has to be on the table – there’s no question about that,” Sen. Judd Gregg, R-N.H., said on ABC/Washington Post’s “Top Line” today. “Erskine Bowles, one of the co-chairmen of the commission, has suggested a 75-25 split -- 75 percent of the savings being in spending, and 25 percent in revenues...“I think it's likely that there will have to be a revenue component, but it should be significantly, dramatically -- and a 3-1 ratio is pretty dramatic -- dramatically less than the initiatives in the spending side of the ledger.”  Read more here:

$26 Trillion in Tax Hikes Coming?