Who will pay for the Libyan war? Surtax on rich, cut Medicaid, who?

[grahamhgreen]

[Junkdrawer]

1. 3 guesses, first 2 don't count n/t

[northoftheborder]

2. Surtax on oil companies. I meant "should" be on oil co's.

[TheCowsCameHome]

3. The guy behind me in the ticket line.

He's good for it........

[indepat]

4. My guess: even further cuts to social security and Medicare than those already

proposed. :patriot:

[Modern_Matthew]

5. I vote a 50% tax increase across the board on the arms industry. nt

[liberal N proud]

6. We all know who isn't going to pay for it

[Donnachaidh]

7. who *should* be paying for it? Oil companies -- 50% tax on profits

who *will* be paying for it -- the american taxpayer, with blood and cash.

[unblock]

8. a surtax on the poor. if you're not employing someone, you need to be punished.

employers and/or rich people are obviously helping, we shouldn't punish them.

anyone who found with cash but no employee is ruining the economy and should be punished.

this tax money will easily pay to bring peace and democracy to libya.

:sarcasm:

[Scuba]

9. How about one of these plans...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=581148&mesg_id=581148

[grahamhgreen]

12. I'll take any one of them, or all of them

Let us consider, starting with the low-hanging fruit, where the money could be found to wipe out the deficits of all 50 states combined, which this year come to a projected $130 billion.

* The extension of the Bush tax cuts for the wealthy, enacted by a Democratic-controlled Congress in December with the approval of the Obama administration, pumps $700 billion over the next ten years into the pockets of the rich. Reclaiming two years of that tax windfall would eliminate all the state budget deficits combined.
* Total compensation at Wall Street banks and securities firms last year hit a record $135 billion, according to an analysis by the Wall Street Journal, on all-time-high revenue of $417 billion. The recipients of the Wall Street bailout could bail out the states out of their own pockets.
* The 400 richest individuals in the United States dispose of a staggering $1.37 trillion in assets, an average of nearly $3.5 billion apiece. A levy of 10 percent on the resources of these billionaires would also erase the deficits of all 50 states.
* Combined profits for all American corporations rocketed upwards in 2010, hitting an annual rate of $1.66 trillion in the third quarter. A tax of eight percent on those profits—the same percentage as the cut Walker seeks to impose on schoolteachers and park rangers—would eliminate all state deficits.
* US corporations are currently sitting on $2 trillion in cash, refusing to hire workers despite collecting tax cuts that are supposed to be incentives to do so. A levy of 10 percent on that idle cash would provide enough money to eliminate not only the deficits of the states, but the deficits of all cities and local governments too, as well as preserving the jobs of hundreds of thousands of public employees.
* Hedge funds assets rose to $1.92 trillion in 2010, the highest ever, up from $1.18 trillion at the beginning of the year. Given a standard earnings formula of 2 percent of total assets plus 20 percent of the increase, hedge fund bosses stood to collect roughly $186 billion in personal income. An 80 percent tax on that income—less than the percentage rate on multimillionaires levied under the Eisenhower administration—would produce more than enough revenue to put all 50 states in the black. (It should be pointed out that the top hedge fund manager, John Paulson, had a personal net profit of more than $5 billion in 2010, while more than a dozen hedge fund bosses had personal incomes above $2 billion and many more took in over $1 billion).

[anarch]

10. if we just get rid of the EPA

and maybe the Department of Labor, we can probably swing it. Also, maybe we can cut taxes a little more for the rich, so that the economy will be stimulated, and we can get more money from the sales tax on people buying iPads.

[The_Casual_Observer]

11. They are going to push much harder on "entitlements".

[roamer65]

13. Qadhafi.

It needs to be deducted from his seized assets.

[grahamhgreen]

16. Yes! Has it been proposed? Will it be done? Why not do it first? or tomorrow?

[applegrove]

14. Someone pointed out yesterday that the USA had spent more on bombing Libya than it spends on NPR.

[grahamhgreen]

15. CNN reported 110 Tomahawks, at $756,000 each, that alone is $83,160,000, not to mention support.

[riderinthestorm]

18. K&R. Too tired to do much else but make a futile gesture to kick this thread, and ref 2 NPR nt

[jacquelope]

17. Selfish Americans. Submit to the new world order! You will be assimilated! n/t

.

[bobbolink]

19. As it was in the past, it depends on whether all of you MAKE NOISE ABOUT THE CUTS.

And, the cuts have nothing to do with Libya.

NOTHING.

[grahamhgreen]

20. Disagree. The cuts have everything to do with war spending.

[bobbolink]

21. No... has to do with tax cuts for the RICH, and CORPORATE WELFARE.

That is what the RW wants to continue, and will sacrifice us poor folk for.

This current action in Libya has NO effect. NO comparison.

[grahamhgreen]

22. Does it increase the deficit?

Of course, so then the RW will claim we have to cut Medicare, Medicaid and heat for Grandma Millie, you know it's true.

Why would it be so hard to tie this to a surtax on the rich? You could force the R's hand. They love them some war, and may even increase taxes to get it.

[bobbolink]

23. That is all the RW is concerned about, isn't it?

[grahamhgreen]

24. Only when they are not in power, gives them and excuse to cut social programs

[bobbolink]

25. Which has nothing to do with the discussion at hand, does it?

Did you happen to hear Papantonio and Sam Seder today, talking about how nonsensical it is to worry about a deficit right now?

Yet, that is what you throw at me.

And I'm supposed to have some knee-jerk reaction to it.

Stop.

When ALL of you decide that poor people will be supported in this country, THAT is when it will happen. You know as well as I do that you could successfully end all the wars tomorrow, and nothing would change for poor people in this country because it isn't a priority for all of you.

YOU know that, and you know that *I* know that.

So stop using us.

[grahamhgreen]

27. We live in a representative democracy. It is the job of those elected to represent us, not

the job of people to have mass demonstrations in the street.

Stop blaming the victims.

[bobbolink]

28. ME, blaming the victims... now that is indeed a feat, since I ARE one.

What I was talking about is that "progressives" choose to demonstrate and protest for middleclass issues, but can't be bothered for poverty issues.

But I'm sure you were aware of that, and just wanted to spread around some daily red herring.

[taught_me_patience]

26. We all pay when inflation hits because we are monetizing debt

it's the cruelest of all taxes.

[Octafish]

29. U.S. Corporations headquartered offshore? Tea baggers?

The rich?