Jay Hancock's blog: Gang of Six Plan: Both a tax cut & tax increase - Business news: Stock markets, banks and economic observations with columnist Jay Hancock

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July 20, 2011

Gang of Six Plan: Both a tax cut & tax increase

The Gang of Six, a bipartisan group of senators, threw its deficit-reduction package into the arena Tuesday and it is variously described as increasing tax revenues by $1 trillion over 10 years and also decreasing them by $1.5 trillion over 10 years. Huh?

That's David Wessel of the WSJ. He explains how this is possible.

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About Jay Hancock

Jay Hancock has been a financial columnist for The Baltimore Sun since 2001. He has also been The Baltimore Sun's diplomatic correspondent in Washington and its chief economics writer. Before moving to Baltimore in 1994 he worked for The Virginian-Pilot of Norfolk and The Daily Press of Newport News.

His columns appear Tuesdays and Sundays.

Follow @jayhancock1 on Twitter