Speadsheet for the federal budget
Social Security is a tax paid by the poor to middle class for a program for the poor and middle class that is and has been funding a big chunk of the federal budget. Any changes in this program would have minuscule affect on the wealthy—except for the rights attack on “entitlements,” which is not only an attack to reduce federal outlays but an egregious redistribution of wealth from the poor to the rich.
SSI taxes in excess to the current payouts are loaned to the government. A reduction in the SSI payout goes to “balance the budget” and absolves the Wall Street mafia from ponying up their share. More shenanigans from the Sheriff of Nottingham. Can’t let the middle class get their money back, now can we?
We must change the discussion from cutting spending to balancing the budget. We need a spreadsheet that shows the impact of increased revenue options as well as spending cuts. Eliminate the tax breaks for ExxonMobil and the special dividend rate, treat capital gains as ordinary income, raise the estate tax to 65 percent for inheritances of $100M, etc.
Furthermore, I hear no discussion of reducing Medicare Part D cost reduction by allowing importation of prescription drugs from first world countries like Canada, Ireland, UK, Germany, France…. The NY Times did this a couple of months ago, but I don’t remember whether there was any consolidated reporting of the results. To ask “Do you approve of this or that cut or other?” without the context of the impact on the final budget (and jobs, jobs, jobs) is a shell game. Eliminate earmarks, funding for NPR, but don't look at decriminalizing/medicalizing drugs and taxing marijuana to reducing the ATF and federal prison budgets.
Feb 20 2011 - 5:32pm