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Sat Dec 1, 2012, 06:26 PM

 

HuffPo: 10 ways to Trim Budget Without New Income Taxes or Entitlement Cuts

Fiscal Cliff: 10 ways Obama, Congress Could Trim Without New Income Taxes, Entitlement Cuts

WASHINGTON -- Just about every policy lawmakers are considering for a deal to avert the so-called fiscal cliff would involve either raising individual income taxes, or cutting benefits in Medicare and Social Security. But there are a host of other avenues available for reducing the federal budget deficit that are rarely talked about, despite their mathematical merit.

There's an old axiom in the investment business that applies to the federal government, as well: You have to spend money to make money. Paradoxically, the U.S. fiscal position would likely be better off if the government simply spent more money. When the economy is booming, government spending can easily be wasteful. But when the economy is not meeting its capacity, the government needs to step in to give it a boost, according to several schools of economic thought. At a time when there are more than four job applicants for every job opening, the economy is clearly not meeting the demand for work, and the government can productively step in by spending money to hire people and get things back on track. By boosting long-term economic growth through short-term spending, the government could actually ease the deficit by ponying up money right now.

That's probably not going to happen, because most lawmakers and think-tankers in Washington are more interested in cutting various social insurance programs than in stabilizing the nation's fiscal position. Nevertheless, even if the government abandons the "spend more" approach, there are at least 10 ways to cut the deficit without raising income taxes or slashing important programs for senior citizens.

http://www.huffingtonpost.com/2012/11/30/fiscal-cliff-10-ways-obama-congress-_n_2215099.html

10 replies, 1547 views

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Always highlight: 10 newest replies | Replies posted after I mark a forum
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Reply HuffPo: 10 ways to Trim Budget Without New Income Taxes or Entitlement Cuts (Original post)
99th_Monkey Dec 2012 OP
riverbendviewgal Dec 2012 #1
Tx4obama Dec 2012 #3
99th_Monkey Dec 2012 #4
LeftInTX Dec 2012 #2
99th_Monkey Dec 2012 #6
TheKentuckian Dec 2012 #5
99th_Monkey Dec 2012 #7
ProSense Dec 2012 #8
99th_Monkey Dec 2012 #9
ProSense Dec 2012 #10

Response to 99th_Monkey (Original post)

Sat Dec 1, 2012, 06:56 PM

1. i am surprised

That there is not much of a response from DUrs on this post. All the points are very good.

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Response to riverbendviewgal (Reply #1)

Sat Dec 1, 2012, 07:02 PM

3. I read the article over on HuffPo last night, it's a good one. n/t

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Response to riverbendviewgal (Reply #1)

Sat Dec 1, 2012, 07:09 PM

4. Yeah, maybe just poor timing

 

Sometimes it just depends on who's logged on at the time.
But thanks for the rec.

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Response to 99th_Monkey (Original post)

Sat Dec 1, 2012, 07:01 PM

2. This one from the list should be a complete no brainer.

4. Offshore Tax Havens.

The U.S. Treasury Department estimates that it loses about $100 billion a year in revenue due to offshore tax haven abuses. Sen. Carl Levin (D-Mich.) has been pushing legislation for years to rein in this absurd tax maneuvering, but corporate lobbying on Capitol Hill has prevented the bill from becoming law.

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Response to LeftInTX (Reply #2)

Sat Dec 1, 2012, 08:19 PM

6. +10 nt

 

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Response to 99th_Monkey (Original post)

Sat Dec 1, 2012, 08:02 PM

5. Lots of sanity in there

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Response to TheKentuckian (Reply #5)

Sat Dec 1, 2012, 08:23 PM

7. Yep. That, together with this post by Samantha, pretty much $um$ it up.

 

Candidly, I do not see the necessity at this time for "Shared Sacrifice"
http://www.democraticunderground.com/?com=view_post&forum=1002&pid=1887316

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Response to 99th_Monkey (Original post)

Sat Dec 1, 2012, 08:29 PM

8. 11:

Make the rich pay their fair share.

"Without New Income Taxes"?

Does this mean keeping the Bush tax cuts for the rich?

I like President Obama's proposal.

Obama offers GOP an ambitious, progressive debt-reduction plan
http://www.democraticunderground.com/10021905787

Doesn't mean those things on the list aren't needed to help "trim" the budget even more and provide more money to fund rebuilding America's infrastructure. Jobs, stimulus, joy!

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Response to ProSense (Reply #8)

Sat Dec 1, 2012, 08:47 PM

9. I agree - Let's add a #11, just in case Obama's watching.

 

I had that same thought as I was posting this. Like "wait a
minute. what ever happened to taxing the rich?"

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Response to 99th_Monkey (Reply #9)

Sun Dec 2, 2012, 10:36 AM

10. It has to be part of any equation. n/t

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