Deficit Panel Recommends 75% Spending Cuts, 25% Tax Increases

[Truthmatters]

Your okay with less money, no hike is sensible, nothing is sensible except one tax in the USA.

Tax imports to cut the deficit, tax the shit out of imports.

Nice thought, but tariffs always lead to disaster.

I like the commission recommendations as a good start, killing UHC and a few other budget-busters (Bush's prescription benefit for example). I also liked Wellstone's going after off-shore tax cheats. especially Swiss bank accounts, what ever happened to Obama's effort with the Swiss accounts? I heard a few news blurbs...then nothing?!

There's been a crackdown on offshore accounts.

One of the reasons the 1%ers hate Obama so much and pay to whip up the stupid to fight him.

 

[mdn2000]

i dont dig it. i'm ok with more taxes so long as expensiblility rises. they aim to lower both like idiots. the capital gains hike is sensible, but i think deductability for investment should be thrown in as a plus-side.

Your okay with less money, no hike is sensible, nothing is sensible except one tax in the USA.

Tax imports to cut the deficit, tax the shit out of imports.

Nice thought, but tariffs always lead to disaster.

I like the commission recommendations as a good start, killing UHC and a few other budget-busters (Bush's prescription benefit for example). I also liked Wellstone's going after off-shore tax cheats. especially Swiss bank accounts, what ever happened to Obama's effort with the Swiss accounts? I heard a few news blurbs...then nothing?!

Tariffs lead to disaster, yet the third worlds largest economy, Brazil has tariffs and taxes on imports. So, if your right, sometime we will see that disaster in Brazil, not saying your wrong for I know that countries can change overnight.

Political commissions, the politicians have never spent less, never, they will never reduce spending. Its political double speak.

One tax, 10%, spend a buck, get taxed on a buck

 

[editec]

Cutting spending and modifying the tax codes seems reasonable to me.

Of course the devil is in the details.

Cut what?

Change the tax codes how?

 

[mdn2000]

Cutting spending and modifying the tax codes seems reasonable to me.

Of course the devil is in the details.

Cut what?

Change the tax codes how?

Funding for PBS.

One tax, 10%, spend a buck, taxed on a buck.

 

[DiamondDave]

I am sure you can get all the tax increases you need by actually taxing the ~50% who currently pay no income tax... put every last citizen on the top rate equally on every dollar earned, and I bet you will get a hell of a push from the populace for tax cuts and reduced government spending

 

[antagon]

Your okay with less money, no hike is sensible, nothing is sensible except one tax in the USA.

Tax imports to cut the deficit, tax the shit out of imports.

i personally think your ideas are silly. i suppose it would be neat to pay 10% tax, but that figure is arbitrary and cant be indicated to finance the reduction of debt, moreover the dollar or the government's role in the wider economy. the repercussions of such will not make for a great business environment after all.

tariffs are stupid in my opinion, and should not be revisited by any economy like ours.

You stated your okay with less money and I am the one with silly ideas, here is a silly idea, private message me, I will give you my address, send me a check and we can cut out the middle man.

Taking the power away from politicians is a silly idea how.

10% is not arbitrary and can be used to reduce the debt, as I stated we grow the economy. Obviously this will be a very large economy.

Tariffs, or a tax is stupid but the complicated system we have now is not.

No tax for corporations importing product overseas but more tax, less money for you, is a better idea.

One tax, 10%, grow the economy and tax imports.

because of the nature of how i've earned money for the last decade, i have paid less tax with higher rates, granted higher expensibility. for the sort of businesses which i feel build the US economy to the greatest extent, i feel that the same may be the case. i am talking about small business. i am referring to the fact that folks who find the tax system complicated can file a 1040EZ, but those whose revenues are more complicated and derived from diverse means benefit from having 'complication' supporting those practices in detail. simplification of tax is optional. that option does not support economic growth, but i argue that deductability and expensibility do support such growth. i wouldn't mind bartering a higher tax rate for a real economic solution like expensibility of hourly labor. i put people to work. those who are offshore importers will recognize the error in their ways through seeking to gain entitlement to that expensibility, not merely through seeking shelter from tariffs. that shit doesn't work, history shows. the basis of our economy nowadays is allergic to heavy taxation on consumption. yours/rush limbaugh's ideas are not thought out. they are arbitrary, obstinate to history and to the way the status quo actually works.

support your claim that 10% tax is not arbitrary. support what force inherent in a flat tax will grow the economy to a greater extent than the status quo. support how tariffs would grow, rather than shrink the economy.

 

[Truthmatters]

They have bought a sack of goods that simple is better.

Simple only works for simple problems and simple minds.

 

[Soggy in NOLA]

It's the same, tired old fossils that gave us this mess; 'nuff said.

 

[Two Thumbs]

I wouldn't mind paying more in taxes IF they actually cut spending (and that's a pipe dream). B/c if spending is cut to the point that the debt/def goes down, the dollars I have will be worth more.

But this won't pass. Cuts to SS and medicare will loose you the senior vote. Just like making cuts to medicaid would loose the poor vote.(why wasn't that mentioned?)

Raising the capital gains tax is a failure of an idea, it's been proven time and time again that lowering it raises revenue.

 

[antagon]

Your okay with less money, no hike is sensible, nothing is sensible except one tax in the USA.

Tax imports to cut the deficit, tax the shit out of imports.

Nice thought, but tariffs always lead to disaster.

I like the commission recommendations as a good start, killing UHC and a few other budget-busters (Bush's prescription benefit for example). I also liked Wellstone's going after off-shore tax cheats. especially Swiss bank accounts, what ever happened to Obama's effort with the Swiss accounts? I heard a few news blurbs...then nothing?!

Tariffs lead to disaster, yet the third worlds largest economy, Brazil has tariffs and taxes on imports. So, if your right, sometime we will see that disaster in Brazil, not saying your wrong for I know that countries can change overnight.

Political commissions, the politicians have never spent less, never, they will never reduce spending. Its political double speak.

One tax, 10%, spend a buck, get taxed on a buck

brazil's and china's economies are different than the US and other developed nations. with respect to trade and commerce they are based in converse functions to our own. it has been decades since the US has been deeply merchantilist. while production of goods in the US eclipses that of brazil, it is not the basis of our economy and should not be treated as such but to the detriment of our economy as a whole. that's the detriment you propose with your tariffs idea.

 

[mdn2000]

Nice thought, but tariffs always lead to disaster.

I like the commission recommendations as a good start, killing UHC and a few other budget-busters (Bush's prescription benefit for example). I also liked Wellstone's going after off-shore tax cheats. especially Swiss bank accounts, what ever happened to Obama's effort with the Swiss accounts? I heard a few news blurbs...then nothing?!

Tariffs lead to disaster, yet the third worlds largest economy, Brazil has tariffs and taxes on imports. So, if your right, sometime we will see that disaster in Brazil, not saying your wrong for I know that countries can change overnight.

Political commissions, the politicians have never spent less, never, they will never reduce spending. Its political double speak.

One tax, 10%, spend a buck, get taxed on a buck

brazil's and china's economies are different than the US and other developed nations. with respect to trade and commerce they are based in converse functions to our own. it has been decades since the US has been deeply merchantilist. while production of goods in the US eclipses that of brazil, it is not the basis of our economy and should not be treated as such but to the detriment of our economy as a whole. that's the detriment you propose with your tariffs idea.

Nice post, sounds smart, except the basis of our economy is manufacturing. Our years as the worlds leader in manufacturing and heavy industry is what built up such great wealth its still being spent today.

Now without that base in our economy we are collapsing.

Some people only aspire to a simple manufacturing job, without those jobs these people will always be unemployed.

As far as Brazil goes they strive to be like the USA.

China, I will work with the Chinese in two weeks. Its fun to pick their brains but they live in a vacuum, they really dont know much about whats happening in their own country.

 

[The Rabbi]

Eliminate the mortgage deduction. Reduce marginal tax rates. Cut entitlement programs.
Who's going to argue with this??

 

[boedicca]

Eliminate the mortgage deduction. Reduce marginal tax rates. Cut entitlement programs.
Who's going to argue with this??

It all depends upon the levels of the marginal rates and if they also get rid of the inane ATM and marriage penalties.

 

[mdn2000]

Eliminate the mortgage deduction. Reduce marginal tax rates. Cut entitlement programs.
Who's going to argue with this??

It all depends upon the levels of the marginal rates and if they also get rid of the inane ATM and marriage penalties.

one sales tax, 10%, this eliminates marriage penalties.

 

[boedicca]

Eliminate the mortgage deduction. Reduce marginal tax rates. Cut entitlement programs.
Who's going to argue with this??

It all depends upon the levels of the marginal rates and if they also get rid of the inane ATM and marriage penalties.

one sales tax, 10%, this eliminates marriage penalties.

Sales tax never had a marriage penalty - income taxes do.

 

[rightwinger]

Eliminate the mortgage deduction. Reduce marginal tax rates. Cut entitlement programs.
Who's going to argue with this??

Everyone but the wealthy

 

[rightwinger]

Eliminate the mortgage deduction. Reduce marginal tax rates. Cut entitlement programs.
Who's going to argue with this??

It all depends upon the levels of the marginal rates and if they also get rid of the inane ATM and marriage penalties.

one sales tax, 10%, this eliminates marriage penalties.

You will need a sales tax of 30% to make up for the loss in income tax revenue. That should put a damper on retail sales

 

[The Rabbi]

Eliminate the mortgage deduction. Reduce marginal tax rates. Cut entitlement programs.
Who's going to argue with this??

Everyone but the wealthy

No proof for that.
The biggest opponents will be the Libs, who will claim little children will starve unless we increase welfare funding.

 

[DiamondDave]

Eliminate the mortgage deduction. Reduce marginal tax rates. Cut entitlement programs.
Who's going to argue with this??

Everyone but the wealthy

No... a little more specific... The ones who love the concept of selective equal treatment and want someone else to pay their share for them and have things given to them at the expense of others

 

[WillowTree]

Cut Federal government workers salaries by 20%. and then freeze it at that level for 50 years. Start with Congress. And cut their benefits to the same benefits they vote in for everyone else.