Expect Tax Increases to Come Out of the Supercommittee

Surprise, surprise.

Republicans are willing to consider raising revenue as part of a debt-cutting plan under discussion by the congressional supercommittee panel if Democrats agree to “real reform” of entitlements said House Speaker John Boehner.

“There’s room for revenue but there clearly is a limit to the revenues that may be available” to help reach the congressionally mandated target of cutting government deficits by at least $1.2 trillion, Boehner told reporters yesterday in Washington.

Bottom line: Average Americans will get screwed two ways. Cuts will come to entitlement programs, such as Social Security, that they paid into, and at the same time revenues, aka taxes, fees etc., will be increased.

In other words, the Supercommittee is about a Super-screwing of the average Joe by Congress.