penny stocks in 2013
How are republicans going to lower the deficit?
Can someone please tell me this magical plan of theirs to do this while waging war and cutting taxes?
I was hoping that a republican could give a useful answer on what their plan is but unfortunatly the two republicans who answered failed miserably (shocking, I know).
How are they going to and how should they are two separate affairs but essentially the same question…
The trickle down plan of giving more to companies for it to trickle down to the common worker has never proven to work, thus cutting taxes for big business is not going to help us overall. It will help the company, the stock market and those who buy shares in it. Does that mean it will create more jobs? Not for certain.
What they should so is return to the Clinton Era tax system before the Bush tax cuts, it would save us $340 billion dollars a year.
Pennies on the principle right?
they, or how about the Government in General would also have to:
Cut foreign aid in half save 17 billion by 2030
Eliminate earmarks save
Eliminate farm subsidies
Cut pay of civilian federal workers by 5 percent
save 17 Billion
Reduce the federal workforce by 10 percent
Save 15 billion
Cut 250,000 government contractors
Save 17 Billion
Reduce nuclear arsenal and space spending ( we dont need to go to space if we can feed ourselves)
save 38 Billion
Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
save $49 Billion
Reduce Navy and Air Force fleets
Cancel or delay some weapons programs
Reduce noncombat military compensation and overhead
Save $51 billion
Reduce the number of troops in Iraq and Afghanistan to 30,000 by 2013
Reducing troops by to 30,000 from 60,000 could save an additional $20 billion by 2030.
Enact medical malpractice reform
Save $13 billion
Increase the Medicare eligibility age to 70
This option would save nearly $50 billion more than increasing the age to 68 would.
Save $104 billion
Reduce the tax break for employer-provided health insurance
Save $157 billion
Reduce Social Security benefits for those with high incomes
Save $54 billion
Return the estate tax to Clinton-era levels
Save $104 billion
Return rates to Clinton-era levels
Allow expiration for income below $250,000 a year
Save $252 billion
Millionaire’s tax on income above $1 million
Save $95 billion
Eliminate loopholes, but keep taxes slightly higher
This option is the same as the previous one – except that tax rates would be cut less, raising more revenue to reduce the deficit.
Reduce mortgage deduction and others for high-income households
National sales tax ( Denmark pays 50 percent and other countries pay upwards of that 5 percent aint gonna kill ya!)
Nearly every other rich country has a tax on consumption, also known as a value-added tax or national sales tax. This option would impose a 5 percent consumption tax, exempting education, housing and charitable giving.
Save $281 billion
This option would tax banks based on the size of their holdings and the perceived riskiness of those holdings. Larger, riskier banks would pay more tax, both to discourage them from taking big risks and to help cover the costs of future financial crises.
Save $103 billion
you would have 56% savings from the tax increases and 44 percent from Spending cuts
Our shortfall is 1,345 billion
This plan leaves us with $1,769 Billion
We would once again have a surplus.
If you wanna see how I did it it, try it yourself here http://www.nytimes.com/interactive/2010/11/13/weekinreview/deficits-graphic.html
Sorry the definitions for everything would not fit into yahoo answers so you will need to look at the link if you need clarification on what each measure is.
Some of these were tough choices, but try it yourself and see if you can come up with a better plan. I highly encourage it, people need to be more involved in government so government does not run the people.