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The Ultimate Budget Balancing Proposal.
Posted Apr 18, 2011 5:03 AM
Republicans want lower taxes and more spending cuts.
Democrats want less spending cuts and higher taxes.
I want the budget balanced. The solution seems obvious. Do both plans and go even further. I propose:
1. Enacting the Republican budget cuts as proposed by Paul Ryan.
2. Enacting the increased income tax on on top earners proposed by Obama.
3. Eliminating the cap on the regressive social security cap but making the change budget neutral by lowering the rate.
4. Currently 47% of Americans pay no income tax. Change the tax code so that is reduced by nearly half so that only the bottom 25% of earners pay no income tax.
Democrats have to give up Medicare as we know it. Republicans have to accept more taxes on the wealthy. The budget gets more towards balance than either the Republicans or Democrats would allow.
Of course, I regard that as win/win. The politicians will regard it as lose/lose.
"The world is a mess and I just need to rule it." --Dr. Horrible.
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