The DU Deficit Reduction Plan/Economic Recovery Plan

[TomClash]

Since the Dems don't seem to have one, U thought I'd take a whole minute of my time to make one up.

1. Cut military and homeland security spending by 30%.
2. Stop the Wars immediately.
3. Tax earnings over $1 million per year at a 50% tax rate.
4. Raise the cap gains tax rate to equal income tax rates.
5. Invest $100 billion in green technologies, transportation and other infrastructure.

I think that's about a $400 billion a year deficit cut even with the investment component.

Simple. Easy. Done.

[jtown1123]

1. You're wrong. The Progressive Caucus has a plan and so does Jan Schakowsky n/t

[TomClash]

2. Ok, I'll adopt their plan

Of course it gets no press because it's progressive.

[jtown1123]

5. Exactly. Here are some links

http://schakowsky.house.gov/index.php?option=com_content&view=article&id=2777:

http://cpc.grijalva.house.gov/index.cfm?sectionid=70

[TomClash]

6. I'm ok with either plan

I have always like Schakowsky anyway.

[jtown1123]

7. Me too. She's an outspoken advocate. We need more of those.

[dmallind]

3. Not that easy, but not a bad start...

1. Cut military and homeland security spending by 30%.
I think this is a good idea. But what do we do with the millions we just put out of work, at defense contractors, military suppliers of everything from gloves to garbage disposal, and the security and military workers themselves.

2. Stop the Wars immediately.
I don't think immediately is a good idea - that way lies bloodbaths for our allies in-country and renewed time and breathing room for the very few but definitely not zero who really are terrorists with US targets in mind, but we do need to end them more quickly I agree. What do we do to support an at least partially secular and partially democratic Afghanistan and Iraq though? Or is it OK if they return to brutal, likely theoctatic, dictatorships?

3. Tax earnings over $1 million per year at a 50% tax rate.
I agree here too. But I make less than 1/6th of that and even I could work out ways to reduce my taxes whereby if you stopped those ways, middle class people would also suffer. I suspect the big money boys know more tricks than I do. What do you do to the underlying code?

4. Raise the cap gains tax rate to equal income tax rates.
Certainly agree here. In fact I can't see much of a downside. They will rejigger their packages to minimize taxes, but they already do. Make sure you change the estate taxes too while you're at it - in fact make sure that there is no source of income whatsoever - from interest to gains to profit to expense accounts, that is taxed any less than income from wages.

5. Invest $100 billion in green technologies, transportation and other infrastructure.
It's a start. No problem here.

[TomClash]

4. It was part tongue in cheek nt

[nadinbrzezinski]

9. On number one you do not need to fire

one soldier, airman or marine. They are NOT the expensive part of the services. Now contractors, like oh XE... I really would not shed a tear.

Also as far as homeland security is concerned you do not need to fire one person... but you'd have to modify their mission... I mean it would be nice if TSA started doing actual security at the airport and not theater. By the way that might involve actually hiring a few contractors to train them in the art of security. Right now TSA is used as a way to keep people afraid.

As to investing 100 billion... we need actually to at least double that, and we need to double that for infrastructure.

[BobbyBoring]

10. You're right

And our problems began with Viet Nam. Beetle Bailey used to peel the potatoes for $35.00 a week. Now Haliburtom has a guy that does it for $100.00 an hr. Once Brown and Root (Read Haliburton) figured there was big money in the fields of Asia, they started getting their greedy little mitts on every thing. They replaced the Seabees and Corps of engineers.

If we got rid of them, we could start even more wars!

[nadinbrzezinski]

11. When I say contractors I also mean Raytheon. and McDonnel Douglas

aka the gear.

As to the wars... they will come to an end, not with a bang, but a whimper. It is the nature of empires. And yes, people (read allies) will die by the score. It don't matter if we leave slowly or suddenly, they will die.

In fact, they are closer to coming to an end than the insiders realize...

This is the future of the USN...



As they say, the past is prologue.

[TomClash]

12. $100 billion builds ALOT

Though I don't have any problem with building even more infrastructure.

[nadinbrzezinski]

13. But from a stimulative POV infrastructure

gives you the most bang for your buck... why republicans hate it.

[StarburstClock]

8. Pass a "Debt Reconciliation Act" offering a 5% govt loan for all credit card debt

using a new institution created solely for that purpose. It would employ 1000s, banks would all get paid off, people would have money to spend and therefore businesses would be able to manufacture and sell their goods in the U.S..