Gut defense and tax, tax, taxNo image available
Gut defense and tax, tax, tax
Made popular 773 days ago in Politics
washingtonexaminer.com — The "People's Budget" is the liberals' answer to House Budget Committee chairman Paul Ryan's 2012 budget proposal, which is "leading us down a road to ruin," according to caucus co-chairmen Reps. Raul Grijalva and Keith Ellison. The "People's Budget," Grijalva and Ellison claim, would eliminate the deficit in just 10 years (Ryan's plan would take more than 25 years) while expanding, not cutting, Medicare, Medicaid and Social Security. "This budget saves the American people from the recklessness of the Republican majority," Grijalva and Ellison write in a letter to Rep. Chris Van Hollen, senior Democrat on the House Budget Committee.

How can such fiscal miracles be accomplished? By tax increases that would make even some top Democrats gasp. Perhaps the most extraordinary is the caucus plan to raise the Social Security tax to cover nearly all of a taxpayer's income. Right now, the tax is imposed on the first $106,000 of earnings. For people who make more than that, the caucus would tax a full 90 percent of income - no matter how high it goes. The caucus would raise the Social Security tax that employers pay as well.

The caucus would create three new individual tax brackets for the highest incomes, topping out at 47 percent. It would also raise the capital gains tax, the estate tax and corporate taxes. It would create something called a "financial crisis responsibility fee" and a "financial speculation tax." And of course it would repeal the Bush tax cuts.

Report This Post
Posted by james2044
Add To Favorites
72 Votes
Similar Issues
7 Comments
ShareThis
Do you think higher taxes and deep cuts in defense spending are a good idea?
Yes
44%
Lean to yes
6.9%
Not sure
0%
Lean to no
4.2%
No
44%
This is not a scientific survey, click here to learn more. Results may not total 100% due to rounding and voting descrepencies.
User Comments
james2044
Posted 773 days ago
0 up votes, 0 down votes
"If you're looking for spending cuts, you'll find just one really big one: national defense. The liberals would end "overseas contingency operations" - the wars in Iraq and Afghanistan - starting in 2013. They would save more money by "reducing strategic capabilities, conventional forces, procurement, and research & development programs." In other words, they would gut the United States' ability to defend itself, today and long into the future."

This is the last paragraph that wouldn't fit in the above.
lastbaldeagle
Posted 773 days ago
0 up votes, 0 down votes
As I stated in an earlier post it would be hard to argue against true oversight of defense programs. There is too much stolen by cost over runs and just plain theft when the government bureaucracy is involved. Lots of friends and relatives of Congresscritters seem to have gotten quite fat off government agencies and their programs, not to mention the critters themselves.
focus
Posted 773 days ago
0 up votes, 0 down votes
James - these excuses can always be used even 10 years from now when we've doubled our defense budget again. The bottom line is we need to cut our debt which stands at 14 trillion. We need to cut everywhere and raise taxes on corporate and remove the tax breaks that were given to the wealthy. This is not about left and right, it's about doing what is right for our country.
lastbaldeagle
Posted 773 days ago
0 up votes, 0 down votes
Focus, you sure buy into the prog spin don't you? Can you explain the huge increases since the libs took over Congress in 2006 and the super spike since we were gifted with Obama and his gang of czars (Thugs)? I sure have NOT seen any improvement in my life following the installation of Hoax & Chains! We need to keep cutting spending and not in the phony deal by the spenders that they are so pleased with. Nothing but smoke and mirrors. Boehner should be tossed from the speakership for being so badly duped.
TheWizard187
Posted 773 days ago
0 up votes, 0 down votes
Defense spending although it is a lot of money being spent it holds more importance than lets say: Abortion,Helping illegal aliens become legal,and giving tax money to other countries that are poor in nature.
Keep_it_real
Posted 773 days ago
0 up votes, 0 down votes
We need to stop policing the world. The consitution does not provide for us to play the role of guardian for other countries. Also, just when are those making over $300K a year going to put in their fair amount of taxes! A 2-3% tax cut would not even be felt by many of them. But, 2-3% on the middle class and poor is a burden many can't handle. Common sense should prevail here not greed.
jmrkaa
Posted 769 days ago
0 up votes, 0 down votes
More GUNS, BIGGER guns and MORE of them!!!! No matter what it costs, no matter of people around the world hate it, no matter if things like health care would eventually have to be cut to 1% as long as we have those GUNS and , with THEM, drive the last evil-looking man to the BOTTOM OF THE SEA!!!!
You will have 2 minutes to edit your comment.

Add your comments