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Bascailly the Gang of six do not suport individually all the proposals. They bascially have agree to support the presidential commissio recommendations tho.Its really a shame Obama just ignores his own commission. Like i fed 2012 when he is warned by medicare trustees he wil ignore another commission,. Eventually commison are getting like congressional hearings ;dog and pony shows for the maddening crowd.
It is supposedly backed by Obama and senate dems but I find it a bit strange that any democrat would support it...
1) Cut 500 billion on deficit "immediately" and hopefully 4 Trillion in total by cuts in the "day-to-day budgets of Cabinet agencies"...
2) Social security increases tied to LOWER inflation rate...
3) Tax reform from 8% to 29% tax rates which in effect is LOWER taxes than the Bush's tax cuts... I thought liberals hated that?
4) Reduce tax breaks on mortgage interest, higher cost health care plans, charitable deductions, tax breaks on retirement savings, and tax credits for families and kids...
5) Slash tax preferences and deductions... whatever that is...
6) Domestic programs and Pentagon absorb these costs... again whatever that is...
7) Overhaul Medicare, Social Security, and farm subsidies... Medicare will NOT reinstate the doctor fee cuts... they will try to find 385 to 500 billion in cuts from other federal health care programs... only 11 billion eliminated from farm subsidies over 10 years... Repeal long-term care from the Obamacare...
8) 80 billion in cuts to military retirement and health benefits... I think it should be cut DEEPER...
9) Improve the laws governing medical malpractice...
Overall, I think its an excellent plan... I am surprise that liberals would be okay with it...
Number 4 go after tax breaks on retirement savings. So here it is lets go after 401 and 403 savings. You want us all to become slaves to SS .
there are are no real tax breaks on IRA 401 and 403 its tax deferred. What do you want to do tax it now and tax it again when you retire bad idea makes more slaves of SS
1) Cut 500 billion on deficit "immediately" and hopefully 4 Trillion in total by cuts in the "day-to-day budgets of Cabinet agencies"...
It needs to be cut by $750 Billion immediately, and $500 Billion each thereafter until the budget provides a 25% surplus which is used to pay down the National Debt to a target goal of 75% of the GDP.
Quote:
Originally Posted by evilnewbie
2) Social security increases tied to LOWER inflation rate...
Total scam. Social Security is separate and apart from the budget. It was the Democrats (largely) who spent the vast majority of the Social Security surplus collected annually from the special Social Security tax to fund their pet projects.
Congress needs to replace the money they stole, and Americans need to get off their full point of contacts and scream bloody murder until the do.
If Americans fail to hold Congress accountable for that, then they have pretty much forfeited their country.
Quote:
Originally Posted by evilnewbie
3) Tax reform from 8% to 29% tax rates which in effect is LOWER taxes than the Bush's tax cuts... I thought liberals hated that?
4) Reduce tax breaks on mortgage interest, higher cost health care plans, charitable deductions, tax breaks on retirement savings, and tax credits for families and kids...
What's the point? Those effectively offset each other, or I suspect it actually end up being a tax increase.
Quote:
Originally Posted by evilnewbie
5) Slash tax preferences and deductions... whatever that is...
6) Domestic programs and Pentagon absorb these costs... again whatever that is...
Exactly, whatever that is.
Quote:
Originally Posted by evilnewbie
7) Overhaul Medicare, Social Security, and farm subsidies... Medicare will NOT reinstate the doctor fee cuts... they will try to find 385 to 500 billion in cuts from other federal health care programs... only 11 billion eliminated from farm subsidies over 10 years... Repeal long-term care from the Obamacare...
What does "overhaul" mean?
If you want to overhaul Social Security, and you should, the best thing you could do is start investigating fraud with SSI and SSDI. Those on SSDI and SSI for "mental illness" need to be in continuous treatment programs, especially those with a history of drug/alcohol abuse. Basically, Americans are buying crack for crack-heads. I live around the corner from 150 supposedly "mentally ill" who get SSI/SSDI and the first of the month they're dumping their paychecks to the crack dealers standing on the corner of 12th and Race Street (even though there is a school right there).
Reducing ADC (Aid to Dependent Children) would help too. Cut payments at age 13 or use a sliding scale and reduce payments to $0 by age 16 (they can work).
Quote:
Originally Posted by evilnewbie
8) 80 billion in cuts to military retirement and health benefits... I think it should be cut DEEPER...
Why? The VA health care system is the most efficient in the US. Much more efficient than your Hospital Cartel system.
The retirement system needs to go back to the way it was before Congress messed it up, a flat 50% of your base pay for 20 years service and kickers for every year or two of service after 20.
And no, that isn't a lot. Even today most would get less than $30,000 per year.
Quote:
Originally Posted by evilnewbie
9) Improve the laws governing medical malpractice...
Improve them for who? The class action attorneys or the victims (when there really is malpractice)?
Quote:
Originally Posted by evilnewbie
Overall, I think its an excellent plan... I am surprise that liberals would be okay with it...
The Senate can put a proposal together, but the bill would have to originate in the House. It is a Revenue bill. Getting that done in a House that has no leader, could be tough.
The Senate can put a proposal together, but the bill would have to originate in the House. It is a Revenue bill. Getting that done in a House that has no lead, could be tough.
If that closing corporate tax loop is in there I'd say near impossible nevermind tough.
From what I understand, I don't believe that it is the corporate tax that is being changed with the current bill, rather I think it is the personal income tax rate since it has five tiers whereas the corporate tax rate is in more tiers...
From what I understand, I don't believe that it is the corporate tax that is being changed with the current bill, rather I think it is the personal income tax rate since it has five tiers whereas the corporate tax rate is in more tiers...
Yup..you are right. Corporate tax rate is not being touched at all.
I had posted a reply to Gurbie's post regarding closing the corporate loopholes. But the article itself is about individuals.
So the banksters and multi-nationals sail through this with no impact whereas middle class Americans bare the brunt of tax reform via lost credits and deductions.
If that closing corporate tax loop is in there I'd say near impossible nevermind tough.
When the Repubs get done with their dog and pony show, they can put the bumper stickers on their cars, and come to work and look into doing something for Americans. There is 14th option also, actually would kind of like to see that happen.
When the Repubs get done with their dog and pony show, they can put the bumper stickers on their cars, and come to work and look into doing something for Americans.
I was mistaken FB. The change in tax code is for individuals, not corporations. Nothing in that Gang of 6 plan affects corporations; it's all individuals.
I was mistaken FB. The change in tax code is for individuals, not corporations. Nothing in that Gang of 6 plan affects corporations; it's all individuals.
Really? You may want to reinterpret the info. It could be the source you are using, try this one.
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