GOP Senator offers solution to fiscal cliff

Discussion in 'Politics' started by JimH52, Nov 27, 2012.

  1. JimH52
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    JimH52 Gold Member

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  2. Moonglow
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    Moonglow Diamond Member

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    I like that idea.
     
  3. JimH52
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    JimH52 Gold Member

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    So Obama won't like it if the rate doesn't go up for high income earners and Grover won't like it cause it will increase taxes on the weathy, as it limits deductions...WINNER?
     
  4. Moonglow
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    Moonglow Diamond Member

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    with a limit on deductions it is like a tax increase upon the wealthy.
     
  5. JimH52
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    JimH52 Gold Member

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    But will the WH go for it? The Bush tax cuts must go. It appears the limit would be $50,000. Anyone on here with that much in deductions?
     
  6. DiamondDave
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    DiamondDave Army Vet

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    And every party happy politician still panders instead of striving for equality in treatment... This is just another costume for the same bullshit broken system
     
  7. Darkwind
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    Darkwind Gold Member

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  8. BlindBoo
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    BlindBoo Gold Member

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    Wasn't that Mitts plan, to limit deductions to avoid Grover's wrath? Didn't the President already say that(limiting deductions) would not raise enough revenue? Where are the reductions in Military spending?
     
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  9. Vel
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    Vel Gold Member

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    Obama had $278,000 in deductions last year so I bet he says no. I think the plan could work but only if charitable deductions are included in the cap.
     
  10. g5000
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    g5000 Diamond Member

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    FINALLY! Some ideas on the table instead of attacks.

    Something I have been in favor of for a long time. We are living longer, we should be working longer.

    However, 68 and 67 are nowhere near high enough. Both need to be at least 70.

    Life expectancy was 60 when Social Security was implemented. Social Security was insurance in case you beat the odds, not an entitlement.

    6 percent of the population was over 65 when Social Security was enacted. Today, 13 percent are over 65. We have literally more than doubled the Social Security load on the Treasury. When you add Medicare on top of that, it is no wonder we are seriously broken.

    Life expectancy is now 78 and will keep on climbing.

    The eligibility ages should either be indexed to life expectancy or to a percentage of the population.

    Wrong answer.

    We need to remove ALL tax expenditures from the tax code. Every last one of them.

    If a Congressman cannot tinker with the tax code by attaching a rider to a bill that adds another tax expenditure, then giving him campaign cash to do so becomes pointless. He cannot be bribed.

    We have been adding tax expenditures at the rate of one a day for over a decade. It has become so corrupt that they now add up to a trillion dollars a year.

    Get rid of them all. This will truly broaden the base, and then you can lower the tax rates for everyone. And you can broaden the base to include more than 47 percent of income earners so that more people have skin in the game.

    This way, if your neighbor earns the same paycheck you do, you are both paying the identical amount of taxes.

    It does not get more fair than that.

    .
     
    Last edited: Nov 27, 2012

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