What America Needs is Zero Based Budgeting

[Weatherman2020]

Every year we go thru the clown show of budgeting. Every year departments ask for more money than they had last year.

The Department of Botanic Gardening (how could America survive without it) will ask for $30M more than they were budgeted last year. The swamp creatures will approve a $15M increase.

The swamp creatures and the related media will report to the American people how the Department of Botanical Gardening took a $15M CUT this year.


Time to have zero based budgets. Each fiscal year your budget is $0. Now it’s up to each department to justify in writing every dollar they want for the next budget.

Only then will spending be put under control.

 

[Nostra]

That would be a start. What we really need is a balanced budget amendment and term limits.

 

[AZrailwhale]

Every year we go thru the clown show of budgeting. Every year departments ask for more money than they had last year.

The Department of Botanic Gardening (how could America survive without it) will ask for $30M more than they were budgeted last year. The swamp creatures will approve a $15M increase.

The swamp creatures and the related media will report to the American people how the Department of Botanical Gardening took a $15M CUT this year.


Time to have zero based budgets. Each fiscal year your budget is $0. Now it’s up to each department to justify in writing every dollar they want for the next budget.

Only then will spending be put under control.

You'd have to combine zero based budgets with a balanced budget amendment for it to be effective. Congress needs a serious choke chain to control spending. It has proven over decades that it can't be responsible for spending the taxpayer's money.

 

[kyzr]

Every year we go thru the clown show of budgeting. Every year departments ask for more money than they had last year.
The Department of Botanic Gardening (how could America survive without it) will ask for $30M more than they were budgeted last year. The swamp creatures will approve a $15M increase.
The swamp creatures and the related media will report to the American people how the Department of Botanical Gardening took a $15M CUT this year.
Time to have zero based budgets. Each fiscal year your budget is $0. Now it’s up to each department to justify in writing every dollar they want for the next budget. Only then will spending be put under control.

1. I recommend a new Grace Commission to do a scientific study of the Federal government an to provide recommendations how to reduce the Budget responsibly. Where to eliminate duplication and waste. To make the Federal government more cost-effective.

2. We can't cut the Budget to get back to Balance, we borrow ~$2T a year, we need new Revenue, in addition to cutting spending, say 1% a year for 10-years.

3. Here are my recommendations to get new revenue, in addition to the 1% cuts:

1. Add a 4% Federal Sales Tax on all sales (gains ~400b/yr)
2. Add a 0.1%? financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains 777b/yr)
3. Add a Remittance Tax on all money sent out of the US (gains ~$150b/yr, see below)
4. Remove the cap on SS tax, and raise the ages from 62/67 to 63/68 (saves SS)
5. Raise the tax and co-pay for Medicare
6. Add a co-pay for Medicaid
7. So if all of the above taxes were implemented, the $1T Budget Deficit would become a $350b surplus to start paying down the $32T Debt

Financial Transactions Tax: What You Need to Know - SmartAsset | SmartAsset

A financial transactions tax is levied on trades made of stocks, bonds, derivatives and other financial products. It is favored by progressives.

smartasset.com

The United States Loses $150 Billion Annually in Remittances

Many Americans know very little, if anything, about “remittances,” (also known as “remittance payments”) and how they affect the U.S. economy. The term “remittance” refers to money earned in the United States that is transferred to relatives, friends or business associates who are still abroad...

www.fairus.org

 

[Zincwarrior]

1. I recommend a new Grace Commission to do a scientific study of the Federal government an to provide recommendations how to reduce the Budget responsibly. Where to eliminate duplication and waste. To make the Federal government more cost-effective.

2. We can't cut the Budget to get back to Balance, we borrow ~$2T a year, we need new Revenue, in addition to cutting spending, say 1% a year for 10-years.

3. Here are my recommendations to get new revenue, in addition to the 1% cuts:

1. Add a 4% Federal Sales Tax on all sales (gains ~400b/yr)
2. Add a 0.1%? financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains 777b/yr)
3. Add a Remittance Tax on all money sent out of the US (gains ~$150b/yr, see below)
4. Remove the cap on SS tax, and raise the ages from 62/67 to 63/68 (saves SS)
5. Raise the tax and co-pay for Medicare
6. Add a co-pay for Medicaid
7. So if all of the above taxes were implemented, the $1T Budget Deficit would become a $350b surplus to start paying down the $32T Debt

Financial Transactions Tax: What You Need to Know - SmartAsset | SmartAsset

A financial transactions tax is levied on trades made of stocks, bonds, derivatives and other financial products. It is favored by progressives.

smartasset.com

The United States Loses $150 Billion Annually in Remittances

Many Americans know very little, if anything, about “remittances,” (also known as “remittance payments”) and how they affect the U.S. economy. The term “remittance” refers to money earned in the United States that is transferred to relatives, friends or business associates who are still abroad...

www.fairus.org

Return to the Eisenhower tax rates as well.

 

[bendog]

Every year we go thru the clown show of budgeting. Every year departments ask for more money than they had last year.

The Department of Botanic Gardening (how could America survive without it) will ask for $30M more than they were budgeted last year. The swamp creatures will approve a $15M increase.

The swamp creatures and the related media will report to the American people how the Department of Botanical Gardening took a $15M CUT this year.


Time to have zero based budgets. Each fiscal year your budget is $0. Now it’s up to each department to justify in writing every dollar they want for the next budget.

Only then will spending be put under control.

Jimmy Carter, come on down! lol

 

[Weatherman2020]

You'd have to combine zero based budgets with a balanced budget amendment for it to be effective. Congress needs a serious choke chain to control spending. It has proven over decades that it can't be responsible for spending the taxpayer's money.

Yes and no. In a free nation we could ask the Navy why they want $4.2B for submarine toilets. With a balanced budget requirement I just see pork first and real needs filled last.

 

[Hang on Sloopy]

Every year we go thru the clown show of budgeting. Every year departments ask for more money than they had last year.

The Department of Botanic Gardening (how could America survive without it) will ask for $30M more than they were budgeted last year. The swamp creatures will approve a $15M increase.

The swamp creatures and the related media will report to the American people how the Department of Botanical Gardening took a $15M CUT this year.


Time to have zero based budgets. Each fiscal year your budget is $0. Now it’s up to each department to justify in writing every dollar they want for the next budget.

Only then will spending be put under control.

i hear that, Great Sucking Sound

 

[Weatherman2020]

Return to the Eisenhower tax rates as well.

And the tax deductions. You forgot to mention that.

 

[Rogue AI]

1. I recommend a new Grace Commission to do a scientific study of the Federal government an to provide recommendations how to reduce the Budget responsibly. Where to eliminate duplication and waste. To make the Federal government more cost-effective.

2. We can't cut the Budget to get back to Balance, we borrow ~$2T a year, we need new Revenue, in addition to cutting spending, say 1% a year for 10-years.

3. Here are my recommendations to get new revenue, in addition to the 1% cuts:

1. Add a 4% Federal Sales Tax on all sales (gains ~400b/yr)
2. Add a 0.1%? financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains 777b/yr)
3. Add a Remittance Tax on all money sent out of the US (gains ~$150b/yr, see below)
4. Remove the cap on SS tax, and raise the ages from 62/67 to 63/68 (saves SS)
5. Raise the tax and co-pay for Medicare
6. Add a co-pay for Medicaid
7. So if all of the above taxes were implemented, the $1T Budget Deficit would become a $350b surplus to start paying down the $32T Debt

Financial Transactions Tax: What You Need to Know - SmartAsset | SmartAsset

A financial transactions tax is levied on trades made of stocks, bonds, derivatives and other financial products. It is favored by progressives.

smartasset.com

The United States Loses $150 Billion Annually in Remittances

Many Americans know very little, if anything, about “remittances,” (also known as “remittance payments”) and how they affect the U.S. economy. The term “remittance” refers to money earned in the United States that is transferred to relatives, friends or business associates who are still abroad...

www.fairus.org

Let's skip the new revenue and move to cutting the spending. The American people already pay too much in taxes.

 

[LordBrownTrout]

i hear that, Great Sucking Sound

There ain't nothing left to be sucked out. All that's left now is the fed pumping the corpse to continue the charade. They've already sacked the treasury, made billions, sold out america and left them hung out to dry. They'll go for one final curtain call to digitize the currency while they go hide away in a far away country and deep underground in their bunkers.

 

[kyzr]

Let's skip the new revenue and move to cutting the spending. The American people already pay too much in taxes.

Can't cut spending $2T. Need more revenue and to cut spending. The DEBT is exploding, there is no time to waste.

 

[DGS49]

I have worked for many large private companies and been through several layoffs. As a general proposition, any large organization can cut 10% of staff, and within 90 days nobody can remember what the 10% were doing. It is amazing how many functions can be done without.

Having spent 8 years with DoD (military and civilian), that could be AT LEAST 25% for the Federal government.

What few people realize that that "we" unwittingly assume that one of the functions of government is simply to employ people - whether they do anything worthwhile or not. And that goes for every level of government from the Feds through the tiniest "Authority" in Rhode Island (the tiniest State).

This is why, from time to time, it is important to "hire" a business-man as President (and Governor, and Mayor)...someone who does not carry the same presumptions about the organization as those who have never worked anyplace else.

 

[Rogue AI]

Can't cut spending $2T. Need more revenue and to cut spending. The DEBT is exploding, there is no time to waste.

Nope, you can cut spending without increasing taxes. This 'need' for more revenue is always the problem. Give those idiots an inch and they take ten miles. We need to get back to spending that fits with the Constitution, not all this frivolous spending on social engineering or foreign endeavor of all sorts.

 

[kyzr]

Nope, you can cut spending without increasing taxes. This 'need' for more revenue is always the problem. Give those idiots an inch and they take ten miles. We need to get back to spending that fits with the Constitution, not all this frivolous spending on social engineering or foreign endeavor of all sorts.

Agreed that 5-years ago when the Debt was $20T and the democrats wanted to trim the Federal Government, cut defense, eliminate Welfare and Medicaid, a Balanced Budget could be had, but not now.
The interest on the Debt buries the Budget. We need more revenue or the Debt will continue to explode.
It's not my "opinion", its simple math.

 

[Winston]

1. I recommend a new Grace Commission to do a scientific study of the Federal government an to provide recommendations how to reduce the Budget responsibly. Where to eliminate duplication and waste. To make the Federal government more cost-effective.

2. We can't cut the Budget to get back to Balance, we borrow ~$2T a year, we need new Revenue, in addition to cutting spending, say 1% a year for 10-years.

3. Here are my recommendations to get new revenue, in addition to the 1% cuts:

1. Add a 4% Federal Sales Tax on all sales (gains ~400b/yr)
2. Add a 0.1%? financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains 777b/yr)
3. Add a Remittance Tax on all money sent out of the US (gains ~$150b/yr, see below)
4. Remove the cap on SS tax, and raise the ages from 62/67 to 63/68 (saves SS)
5. Raise the tax and co-pay for Medicare
6. Add a co-pay for Medicaid
7. So if all of the above taxes were implemented, the $1T Budget Deficit would become a $350b surplus to start paying down the $32T Debt

Financial Transactions Tax: What You Need to Know - SmartAsset | SmartAsset

A financial transactions tax is levied on trades made of stocks, bonds, derivatives and other financial products. It is favored by progressives.

smartasset.com

The United States Loses $150 Billion Annually in Remittances

Many Americans know very little, if anything, about “remittances,” (also known as “remittance payments”) and how they affect the U.S. economy. The term “remittance” refers to money earned in the United States that is transferred to relatives, friends or business associates who are still abroad...

www.fairus.org

Let me address your revenue proposals.
1. Non-starter, highly regressive. Inflationary, places an undue burden on retailers who have to collect, and submit, the tax, doubling the work they do now collecting state sales taxes
2. Why just .1%? How about removing the decimal point and making it a full one percent. The markets churn too much as it is. A tax will slow that churn and reduce volatility.
3. Too easily circumvented, inflationary--those remittances help keep inflation lower, it is less dollars here chasing the same amount of goods. The tax would only bring more dollars here and reduce the positive impact those remittances have in combating inflation.
4. That is a solid proposal and should have been done a long time ago.
5. Increasing the Medicare tax is just unfair to younger people. The damn boomers are collecting both Social Security and Medicare now and they paid damn near nothing in taxes during their working years. Especially prior to Reagan taking office. And if you are talking about co-pays, well the standard has been 20%, after the deductible, of which they are two. The Part B deductible is slated to rise to $248 in 2024, it has increased by 500% since 1993. The Part A deductible is $1600 per hospital admission this year, will increase significantly next year, and that is a per incident deductible paid on each hospital admission.
6. What do you mean add a co-pay to Medicaid. Jesus, the whole reason someone is on Medicaid is that the government has determined they don't have the resources to pay for medical care. Where the hell is the co-pay going to come from? I mean these people don't even have $2,000 in the bank, or even in cash value life insurance. Get real here.

Now, I have some counter proposals.

1. Increase the corporate tax rate, at least back to what it was before the Trump tax-cuts. And increase the minimum corporate tax rate to companies making over a billion a year to 20%.
2. Eliminate the capital gains tax. Tax all capital gains like earned income. I mean if you take money out of your 401k it is taxed as income. But if you take it out of your investment account it is taxed as capital gains. HORSESHIT. Income is income, I bust my ass with manual labor and pay over twenty cents on the dollar while some Walmart heir cashing in some of their stock pays fifteen cents on the dollar. That ain't right.

 

[kyzr]

Let me address your revenue proposals.
1. Non-starter, highly regressive. Inflationary, places an undue burden on retailers who have to collect, and submit, the tax, doubling the work they do now collecting state sales taxes
2. Why just .1%? How about removing the decimal point and making it a full one percent. The markets churn too much as it is. A tax will slow that churn and reduce volatility.
3. Too easily circumvented, inflationary--those remittances help keep inflation lower, it is less dollars here chasing the same amount of goods. The tax would only bring more dollars here and reduce the positive impact those remittances have in combating inflation.
4. That is a solid proposal and should have been done a long time ago.
5. Increasing the Medicare tax is just unfair to younger people. The damn boomers are collecting both Social Security and Medicare now and they paid damn near nothing in taxes during their working years. Especially prior to Reagan taking office. And if you are talking about co-pays, well the standard has been 20%, after the deductible, of which they are two. The Part B deductible is slated to rise to $248 in 2024, it has increased by 500% since 1993. The Part A deductible is $1600 per hospital admission this year, will increase significantly next year, and that is a per incident deductible paid on each hospital admission.
6. What do you mean add a co-pay to Medicaid. Jesus, the whole reason someone is on Medicaid is that the government has determined they don't have the resources to pay for medical care. Where the hell is the co-pay going to come from? I mean these people don't even have $2,000 in the bank, or even in cash value life insurance. Get real here.

Now, I have some counter proposals.

1. Increase the corporate tax rate, at least back to what it was before the Trump tax-cuts. And increase the minimum corporate tax rate to companies making over a billion a year to 20%.
2. Eliminate the capital gains tax. Tax all capital gains like earned income. I mean if you take money out of your 401k it is taxed as income. But if you take it out of your investment account it is taxed as capital gains. HORSESHIT. Income is income, I bust my ass with manual labor and pay over twenty cents on the dollar while some Walmart heir cashing in some of their stock pays fifteen cents on the dollar. That ain't right.

1. Bullshit. If state taxes can be routinely collected a 4% or so Federal Sales Tax can be collected.

2. I kept the 0.1% Financial Transaction Tax because that's what the linked article had, that had Pocahontas' seal of approval, I'm open to adjusting any of these proposed rates that get to a surplus to pay down the $33T debt.

3. Remittance tax is also routinely collected by several states. The Federal government should cash in that old $150b of revenue, that could easily double or triple with the new migrants.

4. We agree on removing the cap on SS. That fixes SS long term, raising the ages 1-year, since we collect longer, also helps.

5. We paid into Medicare with real dollars, not the inflated ones they have now. So what's your fix? Google it if you're blanking.

6. Medicaid is going bankrupt, everyone who sees a doctor should pay something for it. No more free stuff. I thought Bill Clinton put a 2-year limit on Welfare? Now I see that the fucking migrants are getting Welfare? That is bullshit.

COUNTER PROPOSALS:
1. Corporations just pass thru any tax increase by raising prices, and that causes inflation, or they move to lower tax countries.
Why don't we just eliminate ALL SUBSIDIES for corporations, aka "Corporate Welfare"?
2. Agreed. No more "capital gains", all income is just income. We could also consider eliminating ALL tax deductions.

THANK YOU FOR A REAL DISCUSSION!

 

[Weatherman2020]

I have worked for many large private companies and been through several layoffs. As a general proposition, any large organization can cut 10% of staff, and within 90 days nobody can remember what the 10% were doing. It is amazing how many functions can be done without.

Having spent 8 years with DoD (military and civilian), that could be AT LEAST 25% for the Federal government.

What few people realize that that "we" unwittingly assume that one of the functions of government is simply to employ people - whether they do anything worthwhile or not. And that goes for every level of government from the Feds through the tiniest "Authority" in Rhode Island (the tiniest State).

This is why, from time to time, it is important to "hire" a business-man as President (and Governor, and Mayor)...someone who does not carry the same presumptions about the organization as those who have never worked anyplace else.

Yep.
Every government ‘shutdown’ nobody can tell a difference.

 

[Admiral Rockwell Tory]

1. I recommend a new Grace Commission to do a scientific study of the Federal government an to provide recommendations how to reduce the Budget responsibly. Where to eliminate duplication and waste. To make the Federal government more cost-effective.

2. We can't cut the Budget to get back to Balance, we borrow ~$2T a year, we need new Revenue, in addition to cutting spending, say 1% a year for 10-years.

3. Here are my recommendations to get new revenue, in addition to the 1% cuts:

1. Add a 4% Federal Sales Tax on all sales (gains ~400b/yr)
2. Add a 0.1%? financial transaction tax on ALL financial buy/sell transactions (stocks, bonds, derivatives, bitcoin, etc.) (gains 777b/yr)
3. Add a Remittance Tax on all money sent out of the US (gains ~$150b/yr, see below)
4. Remove the cap on SS tax, and raise the ages from 62/67 to 63/68 (saves SS)
5. Raise the tax and co-pay for Medicare
6. Add a co-pay for Medicaid
7. So if all of the above taxes were implemented, the $1T Budget Deficit would become a $350b surplus to start paying down the $32T Debt

Financial Transactions Tax: What You Need to Know - SmartAsset | SmartAsset

A financial transactions tax is levied on trades made of stocks, bonds, derivatives and other financial products. It is favored by progressives.

smartasset.com

The United States Loses $150 Billion Annually in Remittances

Many Americans know very little, if anything, about “remittances,” (also known as “remittance payments”) and how they affect the U.S. economy. The term “remittance” refers to money earned in the United States that is transferred to relatives, friends or business associates who are still abroad...

www.fairus.org

1. Increases inflation. No go!
2. I doubt your figures are anywhere close to accurate.
3. Great idea. Let's tax all the illegals!
4. Destroy everyone's budget and increase inflation. No go.
5. Increases inflation. No go!
6. Defeats the purpose of Medicaid. No go!
7. That would only take 91 years to pay off 32 trillion dollars. Not enough!

I am sure I am wrong, but you have one valid way to raise revenue without harming the economy.

 

[Admiral Rockwell Tory]

Yes and no. In a free nation we could ask the Navy why they want $4.2B for submarine toilets. With a balanced budget requirement I just see pork first and real needs filled last.

Have you ever served on a submarine? If not, you have no idea how complicated it is to flush a toilet hundreds of feet under water. I'd really like to see you source for that figure. I think you are being facetious!