I propose we revert tax rates back to Clinton era levels, cut military spending 10%, cut farm subsidies 20%, get out of Afghanistan, raise Social Security eligibility by two years for those under 50, and eliminate the income cap on payroll taxes.
How we doing on the deficit? Other ideas?
I dunno, Doug. Might cause us to pay back the deficit too fast.
– Alan Greenspan, 2001
Clinton era tax rates and spending. Easy.
Raise the cap on social security from $106,000 to say $125,000 or whatever works and leave the eligibility requirements remain the same.
We don’t need any more old goats sucking up jobs better performed by the young for the sole reason is they aren’t eligible for social security.
Be careful calling your elders old goats. You may be one some day. If the job includes grammar, it sounds like they will out-perform you.
Otherwise, your idea is reasonable.
Sounds good to me!
“Be careful calling your elders old goats. You may be one some day. ”
Already there. And you can shove your grammer policing right up your ass.
No reason to be mean. You started with the name calling, and Mary just responded with some nit-picking.
Glenn Reynolds has some interesting ideas on dropping some of the tax breaks the entertainment industry enjoys.
And, can we drop some federal Departments?
I have a two part question on that score –
If we eliminated the Department of Education today:
= how many schools could not open tomorrow?
= how many schools would miss them?
My concept — not rising to the level of a plan — cut all payments out by 3%, simultaneously raise all federal taxes and fees by 3%. Across the board, no exceptions. I haven’t done the math, that would be difficult, so maybe 2% or 4% would be preferable. Spread the pain.
Raising the retirement age punishes the poor. Life expectancy for 65 year olds hasn’t changed that much and the increases are happening for the upper economic tiers. A better solution is to raise the cap. Someone making six figures will feel less of a pinch than someone earning $30K. As it is, their last dollar earned is worth more than mine is.
Another idea worth pursuing is a transaction tax for Wall Street. There seems to be more gambling than investing, so let’s have the ‘house’ (the USA which provides for their safety) get its cut.
Fuck that. Get rid of “investing” (except for investing in the actual start-up of a brand-new enterprise or IPOs to raise cash, initial bond issues, etc.–that is, investments that actually go to funding a productive enterprise) altogether. Simply purchasing stock and other financial instruments that have already been issued by their issuer to sell them later does absolutely nothing to produce anything of actual use to anyone.
Simply purchasing stock and other financial instruments that have already been issued by their issuer to sell them later does absolutely nothing to produce anything of actual use to anyone.
This statement is incorrect. Trading of stocks, bonds, other instruments is a method of valuing firms and signalling where capital should ultimately flow. Stock prices are based on a firms’s future prospects and rising stock prices allow that firm to attract additional capital through subsequent public offerings, investment banks, private placements. Firms whose prospects are declining will decline in value and signal that information.
Additionally, rising prices of a portfolio allows the portfolio holder to borrow against the increased value and use the funds for other gainful activity.