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How should America solve the debt-deficit crisis?

How should American solve its debt-deficit crisis?

  • Tax increases on the wealthy

    Votes: 0 0.0%

  • Spending cuts

    Votes: 0 0.0%

  • Spending cuts AND tax increases on the wealthy

    Votes: 0 0.0%

  • Spending cuts AND closing tax-loopholes

    Votes: 2 33.3%

  • ALL three.

    Votes: 4 66.7%
  • Total voters
    6
Thunder

Thunder

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should we do it with JUST spending cuts, JUST tax-increases, JUST closing tax-loopholes, or a combo or all three, or two..or something else?
 
Spending cuts and closing loopholes. And when I say spending cuts, I don't mean the defense budget or welfare budget. I mean the rediculous salaries our "paid politicians" give themselves.
 
I d say Spending cuts, close tax loop holes, AND reduce taxes.
 
spending cuts on ALL programs, defense, foreign aid, everything. raise the SS age for folks born after 1973, find more ways to save money with Medicaid & Medicare, reduce farm-aid.

NO sacred cows.

plus, close tax-loopholes and return the wealthy to their pre-Bish tax rates, which means raising their taxes by 3%.

do all of this, and we can reduce the debt by $5 trillion in 10 years.
 
Reading over the Gang of Six proposal that came out today, it looks like it will have Two of the Three - spending cuts of about $4 Trillion and $1 Trillion in revenue increases - BUT it comes with lowered tax rates. Revenues will be increased by closing loopholes and deductions. If they can make this work, I would support it.

Personally, to save Medicare I would means test it. I would also eliminate the cap on Social Security taxes so that all income (instead of just the first $130,000 or so) is taxed.
 
Thunder said:
spending cuts on ALL programs, defense, foreign aid, everything. raise the SS age for folks born after 1973, find more ways to save money with Medicaid & Medicare, reduce farm-aid.

NO sacred cows.

plus, close tax-loopholes and return the wealthy to their pre-Bish tax rates, which means raising their taxes by 3%.

do all of this, and we can reduce the debt by $5 trillion in 10 years.
Click to expand...

Until the government proves it can and will make massive cuts no ones taxes should be increased and teh rich especially should not have their taxes increased while everyone else keeps their current rates
 
FilmFestGuy said:
Reading over the Gang of Six proposal that came out today, it looks like it will have Two of the Three - spending cuts of about $4 Trillion and $1 Trillion in revenue increases - BUT it comes with lowered tax rates. Revenues will be increased by closing loopholes and deductions. If they can make this work, I would support it.

Personally, to save Medicare I would means test it. I would also eliminate the cap on Social Security taxes so that all income (instead of just the first $130,000 or so) is taxed.
Click to expand...

oh yes, totally remove the cap on SS taxes. this cap idea is absolutely ridiculous.

sounds good. get er' done cap'n Obama!!!

:)
 
TurtleDude said:
Until the government proves it can and will make massive cuts no ones taxes should be increased and teh rich especially should not have their taxes increased while everyone else keeps their current rates
Click to expand...

closing tax-loopholes does not increase anyone's tax rate.
 
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