Originally posted by twhitehead
So you are OK with Hillarys tax plan, but want spending cuts too?
Do you favour spending cuts over higher (than Hillarys) taxes?
What areas would you cut? What spending cuts / hikes are the candidates proposing?
Hillary's plan isn't aggressive enough. I'd eliminate all her proposed cuts to the poor and middle class and increase (or at least hold steady) her hikes on the rich. I'd also:
1. Have FICA tax pick up against at $250k income
2. Raise the social security benefits ages by 3 years across the board
3. Raise the Medicare age to 67
4. Cut earmarks
5. Reduce the federal workforce, but just by a little
6. Reduce military spending (I don't know why we need military bases in western Europe, for example)
7. Phase in a means test for some social security benefits
8. Tax transfers (including taxable gifts and estates) as income
9. Cap depreciation deductions
10. Institute a small wealth tax (maybe 0.1% per year)
11. Cut farm subsidies
12. Cut funding of the arts
or some combinations thereof...
Frankly, I don't think it should be that difficult to come up with a $250M annual surplus or more. When the next recession hits, we can spend the surplus on economic stimuli. But in the meantime, we can pay down some of the debt.