Using both the GOP and the presidents target number of $4 trillion dollars as a control. I would take the general idea of large entitlement reductions through radical program revision, larger than the current GOP proposals. I would lower the threshold age to 50 years old and under. I would include substantial corporate tax reform/reduction including the elimination of loopholes. I would not take away the deduction for home ownership as this would add insult to injury in our home value crisis. I would raise individual taxes on ALL Americans to Pre-Bush levels and use that revenue to accelerate the buy down to a $4 trillion dollar reduction in 5 years. I would not make cuts to the military budget because the current true context of our world involvement would make budget reductions ridiculous, and guarantee over-run and later additional requests for funding. I would include some targeted investment for education, all energy source development and new technologies.
As bullet points:
- Reduce the deficit by $4 Trillion in 5 YEARS
- Large cuts and Reform to entitlement programs
- Lower threshold age to 50 for impacts
- Eliminate Tax Loopholes / Lower base corporate rates
- Return Tax rates for ALL AMERICANS to pre-Bush rates
- No false promise to reduce defense costs
- Some target investments for americas Future
Please do comment! This Independent would like to know what you think.