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Tue Jul 17, 2012, 11:41 PM

Coalition urges tax hikes, entitlement cuts to tame national debt

Source: Wash. Post

A coalition of business leaders, budget experts and former politicians launched a $25 million campaign Tuesday to build political support for a far-reaching plan to raise taxes, cut popular retirement programs and tame the national debt.

With anxiety rising over a major budget mess looming in January, the campaign — dubbed “Fix the Debt” — is founded on the notion that the moment is finally at hand when policymakers will be forced to compromise on an ambitious debt-reduction strategy.

After nearly three years of bipartisan negotiations, the broad outlines of that strategy are clear, the group’s leaders said during a news conference at the National Press Club: Raise more money through a simplified tax code and spend less on Social Security, Medicare and Medicaid, the primary drivers of future borrowing.

“Everyone knows in their hearts and their minds what has to be done,” said former Pennsylvania governor Ed Rendell (D), who is chairing the group with former New Hampshire senator Judd Gregg (R). The goal of the campaign is to “create a safe environment where it’s not only good policy, but good politics as well.”

Read more: http://www.washingtonpost.com/business/coalition-urges-tax-hikes-entitlements-cuts-to-tame-national-debt/2012/07/17/gJQAOwyBsW_story.html

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Reply Coalition urges tax hikes, entitlement cuts to tame national debt (Original post)
alp227 Jul 2012 OP
Skittles Jul 2012 #1
Rosa Luxemburg Jul 2012 #9
Skittles Jul 2012 #10
Angry Dragon Jul 2012 #2
RobertEarl Jul 2012 #3
msongs Jul 2012 #4
KamaAina Jul 2012 #5
grahamhgreen Jul 2012 #6
Faryn Balyncd Jul 2012 #7
Mojorabbit Jul 2012 #11
Bohunk68 Jul 2012 #22
asjr Jul 2012 #26
indepat Jul 2012 #28
Sancho Jul 2012 #8
Rosa Luxemburg Jul 2012 #12
JDPriestly Jul 2012 #13
woo me with science Jul 2012 #15
woo me with science Jul 2012 #14
hay rick Jul 2012 #16
woo me with science Jul 2012 #17
HeiressofBickworth Jul 2012 #18
PSPS Jul 2012 #19
99th_Monkey Jul 2012 #20
awoke_in_2003 Jul 2012 #23
LarryNM Jul 2012 #21
bemildred Jul 2012 #24
L0oniX Jul 2012 #25
Bradical79 Jul 2012 #27
4th law of robotics Jul 2012 #29
GeorgeGist Jul 2012 #30
CBHagman Jul 2012 #31

Response to alp227 (Original post)

Tue Jul 17, 2012, 11:48 PM

1. why don't they recommend we cut the war???

assholes

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Response to Skittles (Reply #1)

Wed Jul 18, 2012, 12:29 AM

9. millions for futile sham 'wars'

millions for weapons, planes etc.

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Response to Rosa Luxemburg (Reply #9)

Wed Jul 18, 2012, 12:33 AM

10. AND they have the GALL to call themselves FISCAL CONSERVATIVES

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Response to alp227 (Original post)

Tue Jul 17, 2012, 11:50 PM

2. tax the wealthy

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Response to alp227 (Original post)

Tue Jul 17, 2012, 11:51 PM

3. Greedy Bastards

They want to take away from the children and the old and buy more weapons and cause more wars.

The damned idiots don't get that every dollar that is spent on taking care of people goes around and around enriching everyone.

They only care about themselves. I never said this before but its time for it to be said: I hope they rot in hell.

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Response to alp227 (Original post)

Tue Jul 17, 2012, 11:52 PM

4. it's the Simpson-Bowles commission military welfare scam from 2010, back from the dead nt

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Response to alp227 (Original post)

Tue Jul 17, 2012, 11:53 PM

5. "Social Security, Medicare and Medicaid, the primary drivers of future borrowing"

They must have those programs confused with the Pentagon war machine.

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Response to alp227 (Original post)

Tue Jul 17, 2012, 11:55 PM

6. Tax the rich at the rate of the greatest generation (94%) problem solved.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 12:03 AM

7. The sons of bitches want to permanently steal the $2.3 trillion surplus that the SS Trust Fund has..



...loaned the Treasury so that the mega-wealthy can have historically unprecedented low tax rates.


This is a bi-partisan frontal assault on what is left of the middle class.


Fuck you, Ed Rendell, you sell-out bastard.









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Response to Faryn Balyncd (Reply #7)

Wed Jul 18, 2012, 12:34 AM

11. +1000 nt

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Response to Faryn Balyncd (Reply #7)

Wed Jul 18, 2012, 08:00 AM

22. I agree with you.

I've heard Rendell on MSNBC and wondered WTF is with this asshole? He needs a big swift kick to the groin, over and over and over again. Goddamn retard rethuglican in disguise.

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Response to Bohunk68 (Reply #22)

Wed Jul 18, 2012, 12:31 PM

26. Has Ed Rendell become a turncoat? the last few times I have heard him

on MSNBC he has sounded like a dour person and really has had nothing to say eventful.

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Response to Faryn Balyncd (Reply #7)

Wed Jul 18, 2012, 12:40 PM

28. MFing sons of bitches at

that.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 12:24 AM

8. Cut the military in half..then stop all oil subsidies..then regulate the bankers..then let's talk!

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Response to Sancho (Reply #8)

Wed Jul 18, 2012, 12:42 AM

12. Bankers are the enemy

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Response to alp227 (Original post)

Wed Jul 18, 2012, 12:43 AM

13. How many jobs and how much tax revenue will that plan create or stimulate?

Absolutely none.

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Response to JDPriestly (Reply #13)

Wed Jul 18, 2012, 01:07 AM

15. Zero, zilch, nada.

It is theft, pure and simple.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 01:06 AM

14. After the election, so we can count on



bipartisan support for this further pillaging of the American people.

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Response to woo me with science (Reply #14)

Wed Jul 18, 2012, 01:16 AM

16. You say pillaging, I say looting.

Tastes great.
Less filling.
Tastes great!
Less filling!
TASTES GREAT!!
LESS FILLING!!

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Response to hay rick (Reply #16)

Wed Jul 18, 2012, 01:27 AM

17. It's a floor wax AND a dessert topping! nt

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Response to alp227 (Original post)

Wed Jul 18, 2012, 01:40 AM

18. Reminds me of Leona Helmsley

who, famously, said, only the little people pay taxes. I think that is the Repub ultimate goal. The wealthy pay nothing and the 99% pay for everything.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 01:48 AM

19. LOL. "A coalition of business leaders, budget experts and former politicians"

Some "coalition" there. When a story has that in the first line, I don't bother to read the rest. I could write it myself from memory.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 02:10 AM

20. "..raise taxes, cut popular retirement programs" ???

WTF? "Popular"??? As if having any retirement or
health care security is some kind of fucking FAD? .. like
Dancing with the Stars ratings or something.

Oh and interesting that this doesn't exactly say WHOs taxes
are to be raised, but I have a guess, and that would be the
99%.

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Response to 99th_Monkey (Reply #20)

Wed Jul 18, 2012, 08:51 AM

23. They are going to get...

that SS money eventually. They won't give up. My retirement plan? Die on the job, or take a motorcycle off the Grand Canyon.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 04:42 AM

21. Simplified Tax Code is Propaganda for

a Flat Tax and the removal of exemptions which will raise taxes on low and moderate income people. Solution as simple as years ago when all the deficit spending by neocon/neolib types was not considered important. Stop borrowing from Social Security and remove the maximum income limit for Social Security taxes, stop the destructive foreign adventures, end corporate welfare and bring back higher tax rates on the wealthy. Higher taxes on the wealthy will not only help the deficit and budget, but will leave them with less control over the nation/world. Also, treat all income types the same (interest, dividends, salary, whatever). The problems created and the offered "solutions" are Not by accident.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 09:38 AM

24. More right wing babble, same stupid policy prescriptions: "austerity". nt

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Response to alp227 (Original post)

Wed Jul 18, 2012, 12:21 PM

25. Dumb fucks! Good jobs = good tax revenue = ability to reduce debt. Simple ain't it?

Last edited Wed Jul 18, 2012, 12:22 PM USA/ET - Edit history (1)

It's like they know the jobs are not coming back so they go after the poor, elderly and sick.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 12:37 PM

27. Ughh... I hate it when they claim the "math is simple"

Last edited Wed Jul 18, 2012, 12:38 PM USA/ET - Edit history (1)

Then they come up with some kind of simply stupid plan that completely ignores the effects of their simple math.

Cuts in any medical programs combine with ever rising medical costs to create larger groups of people who can't afford medical care. Lots of those people will simply receive treatment and be unable to ever pay their bills, then the burden of those unpaid bills get shifted to the rest through rising insurance costs (both for patients and doctors), and even larger medical fees. It's a nasty feedback loop that leaves us much worse off, and is maybe the biggest flaw of our current privatized health care system.

You take away too much from SS benefits, or raise retirement age too much, and you get more older working poor who have to rely on other government programs (increasing costs in that area) or wander the streets homeless. Then they get sick and have to receive some sort of medical care which feeds into the previous loop, or they simple die in the street from sickness or crime creating spending problems for someone else like law enforcement, or the new body government agency that will be in charge of removing all the bodies from our streets. We are already starting to have this problem as many simply can't afford to retire even with social security.

Now here's some simple math...

According to what I'd read on the Fox News website awhile back a universal health care system would likely cost us $1.5 trillion to run. And according to various reports I've seen, we currently spend around $2 trillion on health care with that number estimated to balloon up to around $4 trillion. Seems to me a universal health care system would save at minimum a half billion fairly quickly, and likely much more than that when compared with current trends.

Now when you add in the costs of the Iraq war, and the additional cost of Afghanistan by shifting focus to Iraq, and you have more government spending that was simply flushed down the toilet without even getting into general inefficient and wasteful military spending.

As for taxes, I agree that we need a simplified tax system, but I somehow doubt my idea of simplified and efficient matches theirs.

It doesn't take any particular amount of brilliance to recognize some of the biggest problems with our budget.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 12:49 PM

29. Cutting the military budget by 15% would save us about 100 billion per year

 

and still leave us with the most powerful military on the planet by far.

Granted that won't fix all our problems.

But 100 billion per year forever isn't something to scoff at.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 10:22 PM

30. Phuck you Ed.

Social Security and Medicare have nothing to do with today's debt ... except as creditors.

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Response to alp227 (Original post)

Wed Jul 18, 2012, 10:37 PM

31. And this is going to help while GOP members of Congress kiss Grover Norquist's ring?

Okay, maybe not his ring...

Anyway, as long as Republicans have sworn off raising taxes on those with the highest incomes (They're fine with cutting services and putting burdens on the rest of us), this isn't going anywhere.

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