Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Location: On the "Left Coast", somewhere in "the Land of Fruits & Nuts"
8,852 posts, read 10,451,396 times
Reputation: 6670
Advertisements
Quote:
Originally Posted by Ponderosa
Reagan's budget director? Who cares? Reagan was a RINO.
I think most of us already knew that's how the current crop of wingnut extremists feels about Reagan.
It's just nice to hear one of 'em actually come out and say it!
The Ryan budget is just insane BS. One does not need to be an economist, just common sense tells us what a senseless budget it is. Cut taxes, increase revenue by supposedly closing loopholes without increasing taxes, cut government service to the middle class and the poor, increase military spending and then just never show the numbers, does that make sense?
Romney does know how to make money by laying off people and cutting wages and benefits, taking his own millions of consulting fees and leave, while Ryan lived on government income and benefits. And that makes the ticket Romney/Ryan a disaster in the making.
The Ryan budget is just insane BS. One does not need to be an economist, just common sense tells us what a senseless budget it is. Cut taxes, increase revenue by supposedly closing loopholes without increasing taxes, cut government service to the middle class and the poor, increase military spending and then just never show the numbers, does that make sense?
Romney does know how to make money by laying off people and cutting wages and benefits, taking his own millions of consulting fees and leave, while Ryan lived on government income and benefits. And that makes the ticket Romney/Ryan a disaster in the making.
WOW ... that guy just took Ryan and his half-cocked budget plan BEHIND THE 'SHED
Love those con-on-con jabs...
So, you trust David Stockman, a convicted cheat, more than you do Obama. Says a lot about you, although I do agree with you that both are dishonest with questionable character.
President Obama: I think Paul [Ryan], for example, the head of the Budget Committee, has looked at the budget and has made a serious proposal. I've read it. I can tell you what's in it. And there's some ideas in there that I would agree with but theres some ideas we should have a healthy debate about because I dont agree with them. The major driver of our long-term liabilities, everybody here knows, is Medicare and Medicaid and our health care spending. Nothing comes close. That's going to be what our children have to worry about. Now, Paul's approach, and I want to be careful not to simplify this, I know you've got a lot of detail in your plan, but, if I understand it correctly, would say, we're going to provide vouchers of some sort for current Medicare recipients at the current level. No?
Every federal budget is a fairy tale. This is nothing new. But at least he has the balls to come forth with a budget and a plan. What have Democrats put forth in the past 4 years?
Every federal budget is a fairy tale. This is nothing new. But at least he has the balls to come forth with a budget and a plan. What have Democrats put forth in the past 4 years?
OBAMA'S PLAN
TAXES:
Obama would allow the lower Bush tax rate of 35 percent to expire, bringing the tax rate back up to 39.6 percent for families earning more than $250,000 annually. His proposal would limit the reach of the Alternative Minimum Tax, a problematic tax Congress regularly has to “patch” at the end of the year because, while originally intended to ensure that the wealthy pay a minimum amount, the tax increasingly ensnares middle-class payers. But Obama would still employ an AMT-like tax by limiting the rate at which individuals can reduce their tax burden through deductions to a 28 percent income-tax liability. That measure would bring in an estimated $500 billion over 10 years.
The proposal would also raise the estate tax and the gift tax to 2009 levels of 45 percent over a given threshold — the first $3.5 million of an individual’s estate, and the first $1 million of a gift, would be exempt — to raise nearly $250 billion over 10 years. He would raise the capital-gains tax to 20 percent, ending the preferential Bush-era rate of 15 percent.
Altogether, the budget’s tax proposals would raise some $2 trillion more than if current tax policies were simply extended for 10 years. Obama is more specific than the budget plan being pushed by Rep. Paul , about the tax SEQUESTRATION/LONG-TERM DEFICIT REDUCTION:
Like Ryan, Obama wasn’t happy to leave the Budget Control Act — passed with the debt-ceiling increase last year — alone in his budget. The law, if allowed to take effect, would trim the deficit by $2.3 trillion over 10 years through a combination of annual spending caps and automatic across-the-board cuts, split evenly between defense and nondefense programs.
Obama’s proposal would remove the firewall between the caps on defense and nondefense annual spending, and its proposal for the next fiscal year actually transferred some money from nondefense to defense programs. Still, Republicans have attacked Obama for failing to address the nearly $500 billion in defense spending cuts over 10 years set to take effect in January. DEFENSE: The president’s proposal would implement defense cuts totaling nearly $500 billion over a decade. SOCIAL SECURITY: Like the Ryan proposal, Obama’s budget made no changes to Social Security. HEALTH CARE. The president’s plan relies on his health care law for most savings, counted in the form of lower drug costs, limited procedural and equipment payments, and the suggestions of the Independent Payment Advisory Board. The most recent estimate of the law’s costs and savings, released after the Supreme Court’s decision, found that it would be $84 billion cheaper over 10 years, now that states are allowed to opt out of the Medicaid expansion. MEDICARE: Obama’s budget counts about $150 billion in fees from drug manufacturers participating in Medicare Part D over 10 years; the plan would also reduce the growth in provider payments and increase premiums for high earners. MEDICAID: The budget counts about $50 billion in Medicaid savings, largely from streamlining state matching rates. PROGRAMS THAT HELP THE POOR. Obama took heat from members of his own party for his proposal to dramatically reduce funding for a program that gives heat and energy assistance to the poor; but for the most part the plan stays away from low-income assistance programs. FINANCIAL-SERVICES REFORMS: The president’s plan would increase funding for financial regulators, requesting more than $2 billion for the next fiscal year to implement the Dodd-Frank financial-reform law.
TAXES:
Obama would allow the lower Bush tax rate of 35 percent to expire, bringing the tax rate back up to 39.6 percent for families earning more than $250,000 annually. His proposal would limit the reach of the Alternative Minimum Tax, a problematic tax Congress regularly has to “patch” at the end of the year because, while originally intended to ensure that the wealthy pay a minimum amount, the tax increasingly ensnares middle-class payers. But Obama would still employ an AMT-like tax by limiting the rate at which individuals can reduce their tax burden through deductions to a 28 percent income-tax liability. That measure would bring in an estimated $500 billion over 10 years.
The proposal would also raise the estate tax and the gift tax to 2009 levels of 45 percent over a given threshold — the first $3.5 million of an individual’s estate, and the first $1 million of a gift, would be exempt — to raise nearly $250 billion over 10 years. He would raise the capital-gains tax to 20 percent, ending the preferential Bush-era rate of 15 percent.
Altogether, the budget’s tax proposals would raise some $2 trillion more than if current tax policies were simply extended for 10 years. Obama is more specific than the budget plan being pushed by Rep. Paul , about the tax SEQUESTRATION/LONG-TERM DEFICIT REDUCTION:
Like Ryan, Obama wasn’t happy to leave the Budget Control Act — passed with the debt-ceiling increase last year — alone in his budget. The law, if allowed to take effect, would trim the deficit by $2.3 trillion over 10 years through a combination of annual spending caps and automatic across-the-board cuts, split evenly between defense and nondefense programs.
Obama’s proposal would remove the firewall between the caps on defense and nondefense annual spending, and its proposal for the next fiscal year actually transferred some money from nondefense to defense programs. Still, Republicans have attacked Obama for failing to address the nearly $500 billion in defense spending cuts over 10 years set to take effect in January. DEFENSE: The president’s proposal would implement defense cuts totaling nearly $500 billion over a decade. SOCIAL SECURITY: Like the Ryan proposal, Obama’s budget made no changes to Social Security. HEALTH CARE. The president’s plan relies on his health care law for most savings, counted in the form of lower drug costs, limited procedural and equipment payments, and the suggestions of the Independent Payment Advisory Board. The most recent estimate of the law’s costs and savings, released after the Supreme Court’s decision, found that it would be $84 billion cheaper over 10 years, now that states are allowed to opt out of the Medicaid expansion. MEDICARE: Obama’s budget counts about $150 billion in fees from drug manufacturers participating in Medicare Part D over 10 years; the plan would also reduce the growth in provider payments and increase premiums for high earners. MEDICAID: The budget counts about $50 billion in Medicaid savings, largely from streamlining state matching rates. PROGRAMS THAT HELP THE POOR. Obama took heat from members of his own party for his proposal to dramatically reduce funding for a program that gives heat and energy assistance to the poor; but for the most part the plan stays away from low-income assistance programs. FINANCIAL-SERVICES REFORMS: The president’s plan would increase funding for financial regulators, requesting more than $2 billion for the next fiscal year to implement the Dodd-Frank financial-reform law.
You realize that every Obama budget has been shot down by his own party in the Senate? That makes the Obama budget a "fairy tale." Any particular reason you're not addressing the issue of Democrats in Congress not putting forth a viable budget since they don't agree with the President's plan?
Location: By the sea, by the sea, by the beautiful sea
68,326 posts, read 54,350,985 times
Reputation: 40731
Quote:
Originally Posted by AeroGuyDC
Every federal budget is a fairy tale. This is nothing new. But at least he has the balls to come forth with a budget and a plan. What have Democrats put forth in the past 4 years?
A plan to reduce military spending, an item both Ryan & Romney intend to increase whether justified or not.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
