View Poll Results: Do you support the People's Budget?

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  • Yes.

    11 47.83%
  • No.

    11 47.83%
  • Unsure.

    1 4.35%
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Thread: People's Budget.

  1. #1
    Educator U.S. Socialist.'s Avatar
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    People's Budget.

    Since we are having a new budget debate over the debt ceiling how do you all feel about the People's Budget? I firmly support it For the people worried about the debt it cuts the deficit by 5.6 trillion. Here is the link: Congressional Progressive Caucus : FY2012 Progressive Budget

  2. #2
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    Re: People's Budget.

    It has some good aspects, but there's too much in here that I cannot agree with to vote "yes." Specifically their ideas toward corporate tax (which is already regressive, and would become even moreso under this plan) and their ideas toward itemized deductions (which they propose capping at 28%, thus adding to the complexity of the tax code, rather than just eliminating most of them entirely).
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  3. #3
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    Re: People's Budget.

    To vague on the main article but it seems that much of their plan is to raise revenue by raising taxes and little to about cutting spending (other then ending wars). It also seems to increase spending in some areas. I would have to say no.

  4. #4
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    Re: People's Budget.

    It is a lie that this budget will only tax the rich more. It will tax the middle-income people a lot more and the tax increases for billionares will give ver little revenue. They are just symbolic. For instance the bottom tax bracket was reduced from 15% to 10% under Bush tax cuts.

    Also, there are going to be higher taxes on companies, meaning higher prices. I suggest we combine removing Bush tax cuts with proper spending cuts.
    Last edited by Camlon; 07-29-11 at 12:09 AM.

  5. #5
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    Re: People's Budget.

    Looks pretty reasonable, so of course it'll never pass.
    For: legalizing drugs, gay marriage, abortion, guns, universal health care, public sector jobs, nuclear power, free education, progressive taxation
    Against: corporations, make-work, the 40 hour work week, intellectual property, imperialism, "homeland security," censorship

  6. #6
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    Re: People's Budget.

    No, that would destroy our economy.

    Gas would go up, prices for everything would go up, jobs would decrease.

    all highly inefficient methods that we all are familiar with from government.. still continuing. One big money dump.

  7. #7
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    Re: People's Budget.

    Here's a snippet from, I suppose, the formal plan. I can't find that it ever made it to the legislative language stage. It's a Lib Wish List.

    Overview of Our Policies

    Individual Income Tax Policies
    • Allow the Bush-era tax cuts to expire at the end of 2012, but extend marriage relief, credits, and
    incentives for children, families, and education
    • Immediately rescind the upper-income tax cuts in December’s tax deal
    • Index the AMT for inflation for a decade (the AMT patch is fully paid for)
    • Schakowsky millionaire tax rates proposal (adding 45%, 46%, 47%, 48%, and 49% top rates)
    • Tax all capital gains and qualified dividends as ordinary income
    • Progressive estate tax (Sanders’ estate tax, repeal of Kyl-Lincoln)
    • Limit the rate at which itemized deductions can reduce tax liability to 28%for high earners
    • Replace the tax exclusion for interest on state and local bonds with a subsidy for the issuer

    Corporate Tax Reform
    • Tax U.S. corporate foreign income as it is earned
    • Eliminate corporate welfare for oil, gas, and coal companies
    • Enact a financial crisis responsibility fee
    • Financial speculation tax (derivatives, foreign exchange)
    • Reinstate Superfund taxes

    Health Care
    •Enact a public option
    • Negotiate Rx payments with pharmaceutical companies
    • CMS program integrity and other Medicare and Medicaid savings in the president’s budget
    • Prevent a cut in Medicare physician payments for a decade (maintain doc fix)

    Social Security
    Raise the taxable maximum on the employee side to 90% of earnings and eliminate the taxable maximum on the employer side
    • Increase benefits based on higher contributions on the employee side

    Defense Savings
    • End overseas contingency operations emergency supplementals starting in Fiscal Year 2013,
    providing $170 billion in FY2012 to fund redeployment, while saving more than $1.8 trillion
    from current law spending levels over ten years.
    • Reduce baseline defense spending by reducing strategic capabilities, conventional forces,
    procurement, and R&D programs
    Comprehensive Jobs Program
    • Invest $1.45 trillion in job creation, education, clean energy and broadband infrastructure,
    housing, and R&D
    • Infrastructure bank
    • Surface transportation reauthorization bill ($213 billion)
    Here's the rest

    http://grijalva.house.gov/uploads/Th...2%20Budget.pdf
    Last edited by LuckyDan; 07-29-11 at 01:10 AM.

  8. #8
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    Re: People's Budget.

    Quote Originally Posted by U.S. Socialist. View Post
    Since we are having a new budget debate over the debt ceiling how do you all feel about the People's Budget? I firmly support it For the people worried about the debt it cuts the deficit by 5.6 trillion
    only if you score taxes statically. which is to say, that it will work just like communism does - on paper.

  9. #9
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    Re: People's Budget.

    Quote Originally Posted by cpwill View Post
    only if you score taxes statically. which is to say, that it will work just like communism does - on paper.
    Looks to me that corporations would flee the U.S. even faster than they currently do and millionaires and above would become virtually non-extent in the U.S. as they would move to countries who are friendlier to them. Yeah, now there is a great plan! I guess that is another way to get the poor into the middle class.

  10. #10
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    Re: People's Budget.

    Quote Originally Posted by U.S. Socialist. View Post
    Since we are having a new budget debate over the debt ceiling how do you all feel about the People's Budget? I firmly support it For the people worried about the debt it cuts the deficit by 5.6 trillion. Here is the link: Congressional Progressive Caucus : FY2012 Progressive Budget
    How about they create a tax plan, without all the loaded language, for a start?
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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