Balanced Budget / Tax Increase Proposal
Jason P
Posts: 19,156
There seems to be a great divide on this board with those that want to raise taxes and those that want the federal government to balance the budget. My biggest issue is that the plan to balance the budget will take ten years to accomplish, but taxes can start right away.
Judging by Congress’ past track record, the odds of them accomplishing this by 2022 are about the same odds of George Lucas releasing Star Wars Episodes IV – VI in their original formats on a technology more advanced then a VHS cassette tape. (in other words, we all know it will never happen)
How about this proposal:
We just call it even-steven and agree to a plan that balances the budget and resets the Clinton-era taxes where they are in direct correlation to each other. For every trillion dollars that is cut, a percentage that is in direct correlation with the tax cuts will be reinstated ... for everyone. If the budget increases, then taxes go down with the same correlation.
It’s sort of like a bass-ackwards 401K matching plan, except the American people are the employers. Save money, to make money. Maybe at some point we can even achieve a surplus.
Again, I’m no economist, but I did sleep at a Holiday Inn Express at PJ 20.
Judging by Congress’ past track record, the odds of them accomplishing this by 2022 are about the same odds of George Lucas releasing Star Wars Episodes IV – VI in their original formats on a technology more advanced then a VHS cassette tape. (in other words, we all know it will never happen)
How about this proposal:
We just call it even-steven and agree to a plan that balances the budget and resets the Clinton-era taxes where they are in direct correlation to each other. For every trillion dollars that is cut, a percentage that is in direct correlation with the tax cuts will be reinstated ... for everyone. If the budget increases, then taxes go down with the same correlation.
It’s sort of like a bass-ackwards 401K matching plan, except the American people are the employers. Save money, to make money. Maybe at some point we can even achieve a surplus.
Again, I’m no economist, but I did sleep at a Holiday Inn Express at PJ 20.
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Comments
Another issue with the tax increase is the method by which it is determined whether the increase applies. A couple making $250k in NYC is not in the same wealth bucket as a couple making $250k in central Virginia. Neither is starving, but the couple making 250k in NYC is hardly living the lifestyle people picture when they picture the "1 percenters", especially if they have kids.