GOP 2012 budget to make $4 trillion-plus in cuts

Originally posted by SPACEYstranger
reply to post by beezzer

 

Fantastic. 4 trillion dollars in cuts to important social programs, at our expense.

This money should CERTAINLY be coming from elsewhere...

edit on 3-4-2011 by SPACEYstranger because: trillion!

Important social programs, like Cowboy poetry in Reids' state. Yeah, right. This came out of OUR pockets thru lies, prevarication, and deception, without any representation. Ifn' you'd like to volunteer to pay all your salary, they'll only have to take out an additional 25% of your income. They're already stealing over 75%. You are either a sophmore who teaches at Harvard, or a bureaurat. You are certainly not a patriot.

This whole argument is just so stupid. people have it over and over again. The government needs to spend what it needs to spend. It is pretty obvious that they do not spend enough, just take one look at our crumbling infatructure for one.

The problem is very simple. Stop borrowing our money into existence. Just print it. Print enough to pay off our debts and operate our country. Solve any issue from inflation this causes by increasing (drastically) the amount of reserves that banks are required to keep.

Help the citizen with a treasury backed mortgage buyback and principal reduction program. You can take every mortgage in the land, Cut the principal by 30% (maturity based reductions of 1% per year = 15 years left on mortgage then you get a 15% reduction) and refince at 5%. You can let the banks continue to service them. Treasury gets all money back in the end so while it may have inflationary tendicies in the start, that would reverse at the debt gets paid back. We ned stimulus now and can automatically self correct under this program. also see above about increasing banks required reserves.

This would also do a great deal to clear up the whole derivative debacle. Calling all these debts in would simply allow them to unwind with little damage compared to what is possible.

These are pretty common sense solutions for the major issues facing our economy. I think anyone that can fully wrap their mind around what is going on currently, would have to agree.

Originally posted by sligtlyskeptical
These are pretty common sense solutions for the major issues facing our economy. I think anyone that can fully wrap their mind around what is going on currently, would have to agree.

I think you're about right with this. It's not simply a matter of cutting or taxing. Their are regulatory issues that need to be faced. 35% corporate tax rate doesn't mean much when two-thirds of all American corporations barely pay half that amount and still boast a profit. Multi-million dollar hedge fund managers paying the same rate as low-income families. People completely evading taxes because they feel a particular 0.01% of the national budget is misspent.

A lot, if not all, of government programs are vital to us, maybe not to you, but to some American somewhere out there, they are. A large portion of them are just grossly mismanaged.

ETA: The Tea Party needs to stop taking credit, especially because all of the credit is going to the GOP anyway. I'll be more interested to actually see the budget than to hear one particular congressman say he'll save that amount, particularly when he hasn't even consulted the CBO yet.

reply to post by links234

A lot, if not all, of government programs are vital to us, maybe not to you, but to some American somewhere out there, they are. A large portion of them are just grossly mismanaged.

Absolutely mismanaged, and yet you socialists/liberals want to turn our health care over to these same incompetent bureaucrats. Why is that? Do you think that even though they are grossly incompetent at running the post office, Amtrak, medicare, Medicaid, etc...; and even though they have thoroughly raped social security you believe that they will somehow NOT screw up the health care industry? Seriously???

We need to do both, we need to both raise taxes, and cut spending.

Cutting spending alone is not enough.

We need to repeal that tax cut for the wealthy, and we also need to close the corporate loopholes that allow companies like GE to get away with paying zero taxes.

We should also completely privatize the military, why should my taxes go to pay for such socialism? If corporate America wants to fight a war over oil in the Middle East, they can pay for it themselves.

If Islamophobic and xenophobic America wants to have a holy war in the middle east, they should pay for it themselves.

Originally posted by whatukno
We need to do both, we need to both raise taxes, and cut spending.

Cutting spending alone is not enough.

I disagree 100%. We absolutely can and should cut spending. Americans are already over taxed imo.

We should also completely privatize the military, why should my taxes go to pay for such socialism? If corporate America wants to fight a war over oil in the Middle East, they can pay for it themselves.

LOL. We have tried that already. Mercenaries do not work. Any and every nation that has relied on mercenaries as their military force has fallen into the trash heap of history. Defense is a basic governmental duty, it should not be contracted out. Notice I said "Defense". I in no manner support our current adventurism.

reply to post by sonofliberty1776

Americans are already over taxed imo.

Your right I guess, GE spent way too much on taxes last year didn't they?

Those poor bastards, having to pay that much, the horror!

Defense is a basic governmental duty, it should not be contracted out. Notice I said "Defense". I in no manner support our current adventurism.

That's why we have the 2nd Amendment. For national defense.

Originally posted by whatukno
reply to post by sonofliberty1776

 

Americans are already over taxed imo.

Your right I guess, GE spent way too much on taxes last year didn't they?

Those poor bastards, having to pay that much, the horror!

To be honest, I don't consider GE "American". They are an MNC -- a Multinational Corporation. Once they reach this level, they are a sovereign entity of a sort in my eyes. The MNCs are a huge part of the current fiscal, culture, and political problems we are all facing.

reply to post by whatukno

I am one who believes that no corporation actually "pays taxes" anyway. They collect taxes from us and pass it on to the government in the form of higher prices.

The second amendment is to allow the people of this nation to protect ourselves from our own government. The military is for external threats.

A little off topic but I was wondering why i can find no copies anywhere on the entire internet of the Toronoto Protocol by Serge Monast? Has anyone ever heard of this? I recently downloaded it, it is an android app, and wanted to print a copy but can find it nowhere.

guess what people read the constitution the only government program that is legal is national defense deal with it

the rest of those programs are illegal hence unconstitutional so come all you constiutional defenders i dont here your voices.

reductions dont mean crap unless you stop creating more and more subsidies and stealing what money was suppose to be in the social securtiy trust funds.

end the massive regulation and taxation in america end where only half of the country pays no taxes.

end the department of education and stop producing idiots which is about the only thing america produces anymore.

cap unions powers and create a business friendly environment.

really how about getting the government getting the hell out of business HELLOOOOOOOOOOOO a free market is the absence is government intervention.

how about ending the federal reserve who prints and devalues the dollar to the point its worthless.


how about banning abortion just think how much tax revenue this country has lost because of that ending abortion is a win win for the left you either get more people to put on entitlements and unemployment or steal from with overtaxation.


and when it comes to national infrastructure what the hell it wasnt the federal government who built the railroads it was private business privatize it and maybe it will get fixed but wait someone living in new york has to pay for a pothole or stop sign in california is sheer stupidity.

address those issues if you people are serious about cutting the deficit.

So I got a look at the budget proposal from Mr. Ryan;

Tax cuts for corporations
Tax cuts for anyone making over $375,000/year
Gutting Medicare
Repealing the Patient Protection Act
Repealing the Financial Reform Act

This is supposed to help?

reply to post by beezzer


You'd be shocked to learn that the Earth is round.

70 billion in cuts?

You can bet your bottom dollar that those cuts don't come out of the defense budget.

reply to post by neo96


Yadda yadda.

So, we're supposed to heed to a document that was new back in 1776?

Hello?

There are these things called "amendments" that ensure that today's constitution looks nothing like 1776.

reply to post by beezzer


I'm down, so long as they gut defense by 70% or more.

Just say know, to the military / security industrial complex.

It seems to me like Republicans only want the wealthy to have health care.

I mean, come on. I agree with cuts too - but they mainly seem to be attacking health care and social programs - why? Is it because that's what democrats seem to want the most?

Is this the result of polarization where things like defense and pentagon spending sit on the sidelines eating hotdogs and drinking beer enjoying the show?

Is this pro-life?
Am I in the twilight zone?
must be...

Originally posted by whatukno
We need to do both, we need to both raise taxes, and cut spending.

Cutting spending alone is not enough.

We need to repeal that tax cut for the wealthy, and we also need to close the corporate loopholes that allow companies like GE to get away with paying zero taxes.

We should also completely privatize the military, why should my taxes go to pay for such socialism? If corporate America wants to fight a war over oil in the Middle East, they can pay for it themselves.

If Islamophobic and xenophobic America wants to have a holy war in the middle east, they should pay for it themselves.

We are really already taxing almost as heavily as we can, the only two taxes there is room to increase is personal income tax on the super wealthy, and tariffs on imports. The wealthy tax will not bring in much 100 billion at most and tariffs are extremely risky. This GE example is getting old, I know the liberal media loves to bring it up - but GE is over 50% a financial company and really lost money during the last year if this is counted. Corporations are actually leaving the US and incorporating overseas at an alarming rate because the US corporate taxes are actually some of the highest in the world.

Over 90% of the deficit reduction must be spending cuts. This budget does not cut enough, not nearly enough. We need cuts of at least 15 trillion over the next 10 years. One thing people don't seem to understand is the interest cost on our debt, it is already 5% of our total spending at the lowest interest rate in our history. This rate will be going up, probably tripling or more, we need to stop adding to our debt immediately.

This is all moot anyway regardless of what the politicians decide, the market is going to force us to not spend a dime over our income within 2 years whether anyone likes it or not.

This isn't a "budget"...this is a wish list of the GOP. They have put in items in this "budget" that are obviously not "budget" items. Specifically...using this "budget" bill to repeal laws. Call me crazy...but repealing laws and pushing your parties agenda isn't really "budget" items.

Let's look at a couple of the items in this "budget".

www.washingtonpost.com...

2) Financial system

a) Financial regulation: Repeals Dodd-Frank.

Is it any surprise that the Republicans would want to repeal the financial regulations passed under Obama? Always looking out for the wealthy. We can also see this by this "budget" wanting to make the Bush tax cuts permanent...surprise surprise.

www.washingtonpost.com...

d) Health-care reform: Repeals the Affordable Care Act.

And there it is...always trying to repeal the Health Care Reform. But IN A BUDGET???


Those two items right there should show anyone that this isn't a SERIOUS budget bill. There is no way a "BUDGET" would get passed that repeals two pieces of legislation. This isn't a serious go at the budget...this is Republican propaganda.

I guess Ryan took a page from Wisconsin's play book when they tried to kill unions in a budget bill.



Here are a few more gems from this "budget"

a) Medicare: Privatizes Medicare. Future beneficiaries will choose from a menu of private options.

a) Tax reform: “Reform the tax code by consolidating the current six brackets and cutting the top individual rate from 35 percent to 25 percent.”

b) Tax revenue: Prevents the Bush tax cuts from expiring in 2013. So the revenue-neutral tax reform locks in today’s rates, which is to say it makes the Bush cuts permanent.

c) Corporate taxes: Lowers corporate tax rate from 35 percent to 25 percent.

Sounds like the big goal of this bill is to give rich people more tax breaks and repeal legislation passed under Obama. Like I said...it's not a budget...it's a wish list.

dont you get it, there are no parties, just giant banks that control the puppet government

reply to post by proximo


We're not taxing heavily enough. Primarily because of the seperation between the tax rates and the effective tax rates. A corporate tax rate of 35% is, currently, an effective tax rate of something like 25%. On top of that there are numerous loopholes that very large corporations can exploit, making their effective tax rate closer to 0%. Ending the Bush tax cuts would increase revenue by $3.7 trillion over ten years, or $370 billion each year.