Thu Dec 20, 2012, 08:15 AM
xchrom (108,903 posts)
8 deficit reducers that are more effective than the 'chained CPI'
1. Close multiple loopholes in the capital gains law: $174.2 billion. (1.42x)
Lawmakers could save nearly one and a half times as much money as they’ll get from stripping seniors, the disabled, veterans, and children of their benefits - 1.42 times as much, to be precise – by closing capital gains loopholes.
2. Refuse to compromise on the President’s $250,000 figure for increased taxation: $183 billion (1.5x)
The President’s initial tax plan – the one he and his party ran on, the one that voters endorsed - called for letting the Bush tax cuts expire for income above $250,000. That would bring in an estimated $366 billion in added revenue over the next ten years. Now, say reports, he and the Republicans will agree on a figure that’s “somewhere in the middle.”
3. Reduce the budget for US overseas military bases by 20 percent: $200 billion. (1.6x)
The United States maintains 702 military ‘installations’ in 63 foreign countries (it has 4,471 bases altogether), according to the Defense Department’s annual budget statement.
4. Allow the government to negotiate with drug companies: $220 billion. (1.8x)
Current law specifically forbids the government from using its negotiating power to obtain lower rates for Medicare prescriptions – even though much of the research behind the drugs involved was performed at government expense.
9 replies, 1249 views
Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
8 deficit reducers that are more effective than the 'chained CPI' (Original post)
|Sherman A1||Dec 2012||#1|
|on point||Dec 2012||#4|
|on point||Dec 2012||#5|
|Filibuster Harry||Dec 2012||#8|
Response to xchrom (Original post)
Thu Dec 20, 2012, 08:22 AM
reformist2 (9,841 posts)
2. They need to let the payroll tax cut expire, before we all get too used to it.
That doesn't "officially" affect the deficit in the general budget, but we need to be able to defend SS as being a self-sufficient program.