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A Principled Solution for the Deficit and Recession

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opednews.com Headlined to H3 11/23/10

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Guiding Principle:   Those who caused and profited from the deficit and the recession should pay back the money they've taken from the American people.

Four Revenue Solutions:

1)     Raise the highest bracket income tax back where it was before Reaganomics trickled down on the rest of us

2)     Raise the capital gains tax on speculative investment income.   Tax earnings from speculation at least as high as earnings from labor.

3)     Keep the inheritance tax

4)     Raise the cap on income subject to Social Security withholding

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Four Spending Solutions:

1)     Cut defense spending, especially contracts

2)     Cut subsidies for big oil and unnecessary farm subsidies

3)     Establish a public plan option in health insurance to lower health care costs

4)     Invest in jobs (now!) to grow the economy by adding taxpayers

 

I'm a retired public health worker focused these days on supporting a variety of progressive issues, such as criminal justice reform, energy efficiency, environmental protection, universal health care, civil rights, and worldwide peace and respect. (more...)
 

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of these recommendations makes sense on their own ... by JimZ on Tuesday, Nov 23, 2010 at 2:49:16 PM
All those ideas are sound. Some other things we co... by Guitar Chris on Tuesday, Nov 23, 2010 at 4:52:08 PM
but I'm trying to distill it down into just econom... by Mary Bell Lockhart on Tuesday, Nov 23, 2010 at 5:06:13 PM
There's a single problem with what Ms. Lockhart su... by John Peebles on Tuesday, Nov 23, 2010 at 6:00:52 PM
the main problem is that the people who can change... by Silverpegasus on Tuesday, Nov 23, 2010 at 6:07:40 PM