So republicans released their budget

All together total revenue collected = GDPx0.2

take last years known GDPx0.2 and that is the spening cap. Make it work or? several possibilities.
 
Agree on letting the tax cuts expire.
I'd even add new taxes.
Disagree on military spending, need to at keep up with inflation.
There are many other wasteful items to cut, I'd also hire another "Grace Commission" to cut the budget to the bone.
Here are my "balanced budget" options:
  • Close loop-holes +$1.5T
    Fix SS net zero (raise the cap)
    Fix Medicare net zero (raise the co-pay & tax)
    Send Medicaid to the states +$500b
  • Add new 0.2% transaction tax +$150b
  • Add new remittance tax +$6b (Mexico pays for the wall, ICE, and CBP)
  • Remove Capital Gains Tax loop-hole +$100b/yr
    Send Welfare to the states in phases +$1.3T
    Send Education to the states +$300b
    Eliminate all personal tax deductions +??????? (keep business deductions)
    Collect all taxes owed +$400b
  • https://www.crfb.org/blogs/irs-loses-400-billion-year-unpaid-taxes

Close loop-holes +$1.5T

List the loopholes you want to close.

Remove Capital Gains Tax loop-hole +$100b/yr

How much was raised the last time the capital gains tax was raised?
 
Close loop-holes +$1.5T
List the loopholes you want to close.
Remove Capital Gains Tax loop-hole +$100b/yr
How much was raised the last time the capital gains tax was raised?
1. Close all loopholes. No deductions, only the standard deduction.
2. Capitol gains was implemented in 1997, so it was never raised. The revenue generated should close to double.
 

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