How would YOU cut the deficit?

[MikeK]

It is estimated (by the DEA) that between 20 and 30 million Americans use marijuana on a "fairly regular" basis, which means about an ounce a month. If marijuana were legal and as regulated as booze it could be produced and distributed at a very reasonable cost per ounce (compared with today's bootleg prices) and provide at least a $25 federal tax on every ounce sold.

How much is twenty million times twenty-five dollars -- every month? Add to that the accompanying growth of a hemp industry and the tax potential there.

Also, I know nothing about stocks but someone I know suggested imposing a one cent federal tax on every stock transaction. Would that be worthwhile?

 

[Agit8r]

We certainly could charge a lot more for the land we lease for natural resource exploitation by the privileged few

 

[Agit8r]

It is estimated (by the DEA) that between 20 and 30 million Americans use marijuana on a "fairly regular" basis, which means about an ounce a month. If marijuana were legal and as regulated as booze it could be produced and distributed at a very reasonable cost per ounce (compared with today's bootleg prices) and provide at least a $25 federal tax on every ounce sold.

How much is twenty million times twenty-five dollars -- every month? Add to that the accompanying growth of a hemp industry and the tax potential there.

Also, I know nothing about stocks but someone I know suggested imposing a one cent federal tax on every stock transaction. Would that be worthwhile?

Obama could unilaterally reduce the deficit by commuting the sentence of every non-violent drug offender held in federal prisons

 

[Agit8r]

Ag subsidies. End them

Wars. Wrap them up. We have been in the graveyard of empires for way too long.

 

[Agit8r]

Reduce the size of the full-time military to those needed for specialized applications that cannot be fulfilled effectively by reserves.

Tariffs on countries that trade unfairly with us, including wage competitiveness. Taxes on profits from labor arbitrage

 

[waltky]

Granny'd fire all the politicians...

... anna bankers too.

 

[Sallow]

I wouldn't cut anything now. Austerity is a very bad idea doing a weak recovery.

Damn the torpedes - full spending ahead!

Damn right.

Fix what's broken first. Settle up later.

 

[editec]

I'd cut the military budget in half.

I'd defund HSA, too.

That would be the end of budget problems, folks.

 

[code1211]

It is estimated (by the DEA) that between 20 and 30 million Americans use marijuana on a "fairly regular" basis, which means about an ounce a month. If marijuana were legal and as regulated as booze it could be produced and distributed at a very reasonable cost per ounce (compared with today's bootleg prices) and provide at least a $25 federal tax on every ounce sold.

How much is twenty million times twenty-five dollars -- every month? Add to that the accompanying growth of a hemp industry and the tax potential there.

Also, I know nothing about stocks but someone I know suggested imposing a one cent federal tax on every stock transaction. Would that be worthwhile?

When profitable, trades are already taxed federally. If a loss occurs, then no.

Have you thought about maybe taxing everyone each time they exhale? That would include a much bigger universe of folks and produce even more cash.

Might reduce CO2 if enough people never exhale again.

 

[code1211]

We certainly could charge a lot more for the land we lease for natural resource exploitation by the privileged few

Or, we could allow the lessees to actually drill and refrain from issuing moratoriums and then tax the raw materials produced.

 

[snjmom]

We should conspire with Russia and China to bomb the hell out of Western Europe and blame it on the Arab countries. In the aftermath, We will provide capital equipment, education, food and tech, Russia will provide energy, raw materials and food and China will provide consumer items. Together we will loot the ME and Africa.

It will be sweet.

 

[finebead]

I am not in favor of corporate welfare and CEO getting rich on the back of our tax dollars nor on destruction of the value of the dollar.

1. I would bring down defense spending, probably by half over a 10 year period. I would defend the US shores, but not prosecute wars of aggression we have no business in. See England, Russia. No troops in Germany or Japan. I would support development of high tech weaponry, as this has proved its value the last two decades. Cruise missiles, drones, our satellite eye in the sky, have all proven their worth. Aircraft carriers, AWACS, all good stuff. We spend 10 times what China or Russia spend, to maintain a huge offensive capability. This costs us too much money and too many lives, and we should reduce it substantially.
2. I would attack Medicare part D (repub screw up). For each illness, I would offer 1 out of 4 drugs on the market, some generic and some brand name. Lets say there are 40 blood pressure pills out there, I'd give away 10 for free (if prescribed by physician, 6 generic and 4 brand name). You would have to bid, and I'll take the 10 low bids. If you want a different pill, go buy it yourself. That would pressure the manufacturers to compete on price.
3. I would require all recipients of social security SSI payments to be certified by the SS doctor, not just their doctor. Maybe end SS-SSI altogether. This is being gamed by many, ripping off the working class. We need to look at social security much harder. I am not sure the problem is with retirees, as it is with the govt. letting too many people claim Disability and get payments for life when they could be working. Below I will post a quote on SSI.
4. I would allow private investigators to be bounty hunters on medicare fraud clinics. You bust one leading to conviction, you get 50K plus 10% of their fraudulent billings.
5. I would have medical boards set treatment standards, particularly end of life care. After a certain point, you go on DNR (Do Not Resuscitate) and hospice care. That's what they do in Europe. If you have money and want to pay for more (or buy an additional insurance to pay for more), you can.
6. End most corporate welfare. Exxon does not need tax breaks, they make a fortune. Eliminate farm subsidies, the family farm is gone, just huge operators out there.
7. Bring back the clinton era tax rates, the rich can pay more, they used to pay more and the economy was doing fine.

There are only 5 areas that make up most of the fed. budget, Social Security, Medicare, Medicaid, Defense, and Interest on the debt.

- You can't do anything about interest on the debt unless you balance the budget and run a surplus and use the surplus to pay down the debt. I'm not holding my breath. Actually, interest rates will rise from here and this must go up and nudge something else out.
- So, you have to deal with SS, Medicare, Medicaid and Defense to meaningly deal with the deficit.

QUOTE from Social Security website about SSI:

What About The SSI Program?

The Supplemental Security Income (SSI) program pays benefits to disabled adults and children who have limited income and resources.

SSI benefits are also payable to people 65 and older without disabilities who meet the financial limits.

Social Security's Supplemental Security Income (SSI) Program

A friend in Houston tells me 10 families on his street, the husband, wife and daughter all are "disabled" and collect SSI; they all live in the same house. But, he sees them put the garbage can out on pick up day. The system is being gamed. The 10 families are not native americans, but migrated here.

 

[uscitizen]

One thing I would do is ban prescription medicine advertising. This should lower the prices that the govt pays for them for medicare,etc.
Some medicines have spent up to 70% of their revenue stream on advertising.

Just one thing.

 

[Mr.Fitnah]

Enroll everyone on foodstamps thats the fastest way to stimulate the economy . Devalue the dollar the fastest way to pay down debt.

 

[M14 Shooter]

defense side:

end the (now 3) wars
bring home troops from all bases except the essential ones and then close so bases.
don't pay a dime for the defense of other countries
cut the military in half

social side:

phase out social security
put limits on medicare/medicaid

other:

end the DOE and use part of saved money to increase pell grants and better high schools/middle schools

Social security does not impact the deficit. The OP's question was how do you cut the deficit.

All spendng impacts the deficit as a deficit is created when total spending exceeds total revenues.

 

[M14 Shooter]

I'd cut the military budget in half.

I'd defund HSA, too.

That would be the end of budget problems, folks.

Not even remotely close.

 

[percysunshine]

How would YOU cut the deficit? .

With either a chain saw, or a back hoe....depending on the level of precision needed.

 

[RachelMadcow]

Privatize Education, Ban all Government Unions and instantly................all budgets are balanced with ease.......





Democrats create ghettos....nothing more.

 

[Gadawg73]

Privatize Education, Ban all Government Unions and instantly................all budgets are balanced with ease.......





Democrats create ghettos....nothing more.

Education and govt. unions may be 3% of the entire budget if that so that is nothing if we totally eliminate both.

You have to cut the big ticket items: Social Security needs to go to mandatory age 66 retirement now, Medicare a means test now for wealthy seniors 25% of which have income over 80K today, Medicaid needs to be block grants to the states and all obsolete military bases need to be closed yesterday.
Those items will be 90% of the budget in 8 1/2 years and are over 60 % now.

 

[Sallow]

I am not in favor of corporate welfare and CEO getting rich on the back of our tax dollars nor on destruction of the value of the dollar.

1. I would bring down defense spending, probably by half over a 10 year period. I would defend the US shores, but not prosecute wars of aggression we have no business in. See England, Russia. No troops in Germany or Japan. I would support development of high tech weaponry, as this has proved its value the last two decades. Cruise missiles, drones, our satellite eye in the sky, have all proven their worth. Aircraft carriers, AWACS, all good stuff. We spend 10 times what China or Russia spend, to maintain a huge offensive capability. This costs us too much money and too many lives, and we should reduce it substantially.
2. I would attack Medicare part D (repub screw up). For each illness, I would offer 1 out of 4 drugs on the market, some generic and some brand name. Lets say there are 40 blood pressure pills out there, I'd give away 10 for free (if prescribed by physician, 6 generic and 4 brand name). You would have to bid, and I'll take the 10 low bids. If you want a different pill, go buy it yourself. That would pressure the manufacturers to compete on price.
3. I would require all recipients of social security SSI payments to be certified by the SS doctor, not just their doctor. Maybe end SS-SSI altogether. This is being gamed by many, ripping off the working class. We need to look at social security much harder. I am not sure the problem is with retirees, as it is with the govt. letting too many people claim Disability and get payments for life when they could be working. Below I will post a quote on SSI.
4. I would allow private investigators to be bounty hunters on medicare fraud clinics. You bust one leading to conviction, you get 50K plus 10% of their fraudulent billings.
5. I would have medical boards set treatment standards, particularly end of life care. After a certain point, you go on DNR (Do Not Resuscitate) and hospice care. That's what they do in Europe. If you have money and want to pay for more (or buy an additional insurance to pay for more), you can.
6. End most corporate welfare. Exxon does not need tax breaks, they make a fortune. Eliminate farm subsidies, the family farm is gone, just huge operators out there.
7. Bring back the clinton era tax rates, the rich can pay more, they used to pay more and the economy was doing fine.

There are only 5 areas that make up most of the fed. budget, Social Security, Medicare, Medicaid, Defense, and Interest on the debt.

- You can't do anything about interest on the debt unless you balance the budget and run a surplus and use the surplus to pay down the debt. I'm not holding my breath. Actually, interest rates will rise from here and this must go up and nudge something else out.
- So, you have to deal with SS, Medicare, Medicaid and Defense to meaningly deal with the deficit.

QUOTE from Social Security website about SSI:

What About The SSI Program?

The Supplemental Security Income (SSI) program pays benefits to disabled adults and children who have limited income and resources.

SSI benefits are also payable to people 65 and older without disabilities who meet the financial limits.

Social Security's Supplemental Security Income (SSI) Program

A friend in Houston tells me 10 families on his street, the husband, wife and daughter all are "disabled" and collect SSI; they all live in the same house. But, he sees them put the garbage can out on pick up day. The system is being gamed. The 10 families are not native americans, but migrated here.

Some good ideas.