If this comes to pass I will eat my hat, socks, shoes,......

Generally I consider talk like this from the left to be boob bait, but hope springs eternal.

From Contentions.

The news that President Obama has upped the ante in the talks over extending the nation’s debt limit has to leave most observers wondering, who’s bluffing? Is the president seriously considering House Speaker John Boehner’s idea of a major overhaul of the tax code that would close loopholes and therefore raise revenues in exchange for substantial spending cuts in entitlement spending that would include hitherto sacred cows such as Medicare, Medicaid and Social Security?

If so, then we may be on the brink of a historic compromise that will not only represent a major step toward fiscal sanity but also fairness. Simplifying the tax code has long been a Republican goal although not one energetically pursued. This would eliminate a great many loopholes and raise a considerable amount of revenue, but if it is accompanied as the GOP insists, by lower rates, it could be sold to their party’s rank and file as a blow to big government rather than yet another measure that will only feed the monster.