Politico44

Warner ran plan by W.H. 'for a while'

By MATT NEGRIN | 11/12/10 5:56 PM Updated: 11/12/10 5:58 PM
Sen. Mark Warner spoke with President Obama, Treasury Secretary Tim Geithner and economic adviser Larry Summers in the past few weeks about his plan to scrap tax cuts for the rich and instead give them to businesses, Warner’s office said.

The White House deemed Warner’s plan “worthy of consideration,” Warner’s spokesman, Kevin Hall, told POLITICO.

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Good idea there.  This way, it is not the rich that get the taxbreak, rather the business.  Then, rich who are rich because of their historic earnings who are sitting on their wealth, especially cash and earning interest income do not get the taxbreak. Since those with business do get the taxbreak, the benefit of taxbreak goes towards shareholderbase, hopefully also the employee base.  Very good approach. 

What do you all think of this approach?