http://truth-out.org/opinion/item/13046-what-grand-bargainers-simpson-and-bowles-really-stand-for

Other harmful provisions in the Simpson-Bowles plan include:

• Increasing the regressive gas tax by 15 cents starting next year;

• Increasing premiums for Medicare, Medicaid, and the Children’s Health Insurance Program;

• Increasing interest rates on student loans;

• Increasing co-payments for middle class veterans receiving health care through the VA;

• Cutting 450,000 jobs in the federal workforce and private companies under contract with the federal government;

• Eliminating or limiting the exclusion of taxation on employer provided health insurance and pensions;

• Encouraging companies to ship jobs to China and other low wage countries by adopting a “territorial” tax system allowing corporations to evade U.S. income taxes by establishing subsidiaries overseas;

• Increasing taxes on low-income workers making between $10,000 to $20,000 a year by 14.5% in 2021 by moving to a chained-CPI; and

• Reducing the number of Americans eligible for Medicaid, SSI, the Children’s Health Insurance Program, WIC, Head Start, LIHEAP, the Earned Income Tax Credit, the Refundable Child Credit, and the Savers’ credit by shifting to a chained-CPI.

Those are the major elements of the Simpson-Bowles plan. If enacted, they will cause major economic pain to virtually every American, while lowering tax rates for millionaires, billionaires and large corporations even more than President Bush.