Originally Posted by Harmonious
I've stayed away from talking politics, mainly because it generally comes down to "I'm right, you're an idiot" statements. Just like the tiresome religious back and forths.
The elephant in the room:
1) 2012 US deficit: $1,330,000,000,000.
2) Taxes gained each year by making the rich "pay their fair share" by eliminating the Bush tax cuts for anyone making over $250,000 a year: $80,000,000,000.
3) Difference: $1,250,000,000,000.
OK. How are you going to make up that difference without affecting the middle class?
Tell ya' what, I will contribute $1k to pay off the national deficit if the networks take off the haters on Fox, MSNBC, Drudge, Kos, and hate-talk like Limbaugh and Hannity.
That would be government regulation at its finest.
More seriously - I think we need a smorgasbord of ideas to reduce the deficit.
Cooperation in the Legislature.
Entitlement Reform - reorganize the programs, motivate people to get off the rolls or give them community service, etc.
Tax Reform - eliminate deductions on income above a certain level (based on the community), eliminate vacation home deductions, continue the FICA/Futa tax on earned income, raise the rates on capital gains to a higher level so income is income. Why are we subsidizing these gains? How about a single digit national sales tax on luxury items? i.e. cars over $60k, boats, yachts, airplanes, etc.
Higher Employment - our deficit now is affected by a lack of revenue. Get people working at better paying jobs so they are able to contribute more than payroll taxes.
Higher Employment also reduces the cost of entitlements
Health Care - make the new law more efficient and less expensive as we learn more
National Defense Reform - do we really need to spend more than the next 17 nations combined? Can we make our military procurement more efficient? Can we have a smaller but more efficient and sophisticated defense
Federal Government Reorganization and Reform - question everything to make it more efficient.
I'm certain there are many ideas to add ... these are just off the top..