A Principled Solution for the Deficit and Recession

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

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

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: