http://www.c-span.org/Events/Sen-Cob...t/10737435869/
How something this small can't get 100% support and fast-tracking in Congress is beyond me.
Let's contact our reps/senators & try to get items like this moving forward.
http://www.c-span.org/Events/Sen-Cob...t/10737435869/
How something this small can't get 100% support and fast-tracking in Congress is beyond me.
Let's contact our reps/senators & try to get items like this moving forward.
$69.7 billion over ten years? A mere $6.8 billion a year when we are over $1 trillion a year short? Political theater. Wanting to seem to favor budget cuts without really offering any. (That amounts to one percent of the DOD budget).
I would take it , as a start , I bet you a $1 , none of the socialist/commie Senators would vote for it. They will vote for nothing , but increases.
Tom Coburn also wants to raise taxes. Very disappointing.
http://www.washingtonpost.com/blogs/...ng-more-taxes/
Doesn't say if he thinks the rest (99%) of the defense budget should be cut or increased. Any tiny increase in that would wipe out his proposed cuts in a hurry. Yes, at least something is being suggested.
I don't know if they still are, but when I was in college a lot of student loans actually were in the DOD budget. That would be "non- defense" defense spending.
He has suggested minor cuts previously. From 2010:
http://www.ncpa.org/sub/dpd/index.php?Article_ID=19445
Quote:
Coburn's letter gives reason to believe that we can find significant savings in military spending -- though perhaps not as much as 1.4 percent of GDP -- just by increasing accountability and making wiser spending choices.
The title of that article is extremely misleading. This is what Coburn actually says in the article.Quote:
Originally Posted by realtonygoodwin
"I don’t think you have to raise rates — you can lower rates and you will have every bit as much revenue that the president wants by raising two rates. You can do both. If you just raise rates, that’s going to be a drag on invested capital."
The end of that paragraph:Quote:
Originally Posted by Traditional Conservative
He says you can lower tax rates and get more revenue by closing tax deductions which in effect increases taxes.Quote:
I’m all for the very wealthy paying more taxes. But how you do it is very important.
Part of the Reagan Tax Cuts were done by lowering tax rates but closing loopholes and dedictions but within a short time the deductions were added back in one at a time. (Reagan later agreed to higher taxes becasue he saw the budget deficit booming).Quote:
As long as you reform the tax code. If you raise $1.6 trillion in taxes and don’t reform the tax code — those who make all this money [will pursue] tax avoidance. It’s not going to get invested, it’s going to get protected.
If you took away all the directed benefits through code — the credits, the deductions — you have $1.3 trillion a year to play with. But you’ve got to buy that back — the mortgage deduction, charitable deduction. That’s why you’ve got tax reform, to have more clarity in terms of what the returns will be. That’s how you’re going to grow.
I don't view that as being a tax increase when you're lowering the rates. It just makes it more of a flat tax.Quote:
Originally Posted by Zippyjuan
Lower rates but fewer deductions. If the revenue rises because of it then it is a net tax increase for most of those effected.
i will once post that this is a no brainer , we all want no taxes but that is not the real world we live in .
taxes ; let EVERYONE getting a pay check write off the 1st $40,000 then pay 18-20% tax on the rest , no detuctions for anything , everyone gets the same writeoff so no one can bitch .
classify a small business as less than $5,000,000 sales every year, trump and halliburten should not be small businesses.
entitlements : if someone working pays $200,000 plus the $200,000 ( really part of wage base ) their employer puts in that's $400,000 into SS , is that a entitlement .
the federal goverment has raided the SS fund of well over one trillion dollars which americans will never see .
hell we owe more than 1.7 trillion to the federal researve , lets call that a entitlement ( they make their money thru wars and america hard times ) and tell them to piss off .
using ron paul's idea of closing 90% of overseas military bases would save billions of dollars.
this debt thing is a no brainer , i still believe --the ultiment power is the power to tax--.
Arbitrary caps (or thresholds) usually don't work. Take for instance a similar problem with Obama's mandate on businesses having to insure people working more than 25 hours per week. Okay, well, some businesses just capped workers at less than 25 hours per week.
So if you start talking about adjusting tax brackets, well, people just get to a point where they don't want to increase their productivity because of the increased tax rate. It creates an artificial ceiling.
Best thing to do, in my opinion, is to get rid of the income tax, which is a tax on productivity. Like the old saying, 'A fine is a tax for doing wrong. A tax is a fine for doing well.'
Funniest part is, even this token amount, which is simply political theater, likely won't get any traction.Quote:
Originally Posted by Zippyjuan
when people like Tom Coburn -- stop taking his automatic pay raises ---reduce his staff--refuse goverment insurance-- free flights , then i will believe these ah's.