The worst deficit reduction plan ever!

[Magox]

A liberal Democrat on President Barack Obama’s deficit commission laid out a plan Tuesday to reduce the budget deficit by $427 billion in 2015, mostly through raising taxes.

 

Rep. Jan Schakowsky of Illinois said her proposal cuts the deficit by more than the $250 billion target by 2015 laid out by Obama, and does a better job of protecting lower and middle income families than the plan offered last week by Erskine Bowles and Alan Simpson, co-chairman of the deficit commission that Schakowsky is serving on.

 

“Lower and middle class Americans did not cause the deficit,” said Schakowsky.

 

Bowles and Simpson released their plan when it became clear that the ideologically divided commission would not reach a consensus by its Dec. 1 deadline. Their report ended up being the first of a wave of deficit plans, including one due tomorrow from a privately-financed group headed up by former Democratic budget official Alice Rivlin and former Senate Budget Committee chairman Pete Domenici (R-N.M.).

 

While the Rivlin-Domenici report will try to stake out a middle ground on deficit reduction, recommending cuts to future Social Security benefits, for example, Schakowsky’s is decidedly to the left – Social Security benefits wouldn’t be touched.

 

Most of the deficit-cutting will come from tax increases that will reach $380 billion in 2015, including allowing tax rates for the highest-earning 2 percent of tax payers to rise at the end of the year, as Obama has proposed.

 

The tax hikes include raising taxes on bonds, foreign-earned corporate income, capital gains and dividends, and implementing a cap and trade program to tax companies for carbon dioxide emissions implicated in global warming.

 

Schakowsky would cut defense programs by about $110 billion and cut non-defense spending by about $33 billion, but Schakowsky also proposed $200 billion in new spending “investments” in 2011 and 2012. The money would go to states to avoid tax increases or spending cuts, to build infrastructure, and continue unemployment benefits. Schakowsky proposes the new spending as an addendum to her deficit-cutting.

 

 

 

Read more: http://www.politico.com/news/stories/1110/45200.html#ixzz15VDTHRZW

[drinkTHEkoolaid]

ugh.... why don't tax and spend liberals get it?

[Chef Jim]

“Lower and middle class Americans did not cause the deficit,” said Schakowsky.

 

So what is she saying exactly here? Is she saying that upper class Americans caused this deficit.

[IDBillzFan]

How does someone THIS stupid actually get put in a position to even make a recommendation on this topic?

 

Though I'm sure if I head over to the Huffington Post, everyone there will be urging Schakowsky to challenge Obama in 2012.

[Gary M]

How does someone THIS stupid actually get put in a position to even make a recommendation on this topic?

 

Though I'm sure if I head over to the Huffington Post, everyone there will be urging Schakowsky to challenge Obama in 2012.

 

And that would be bad?

[Peace]

So what is she saying exactly here? Is she saying that upper class Americans caused this deficit.

 

We rich people have been reaping all the benefits of the social programs for years! That's why we're so rich.

[Magox]

How does someone THIS stupid actually get put in a position to even make a recommendation on this topic?

 

Though I'm sure if I head over to the Huffington Post, everyone there will be urging Schakowsky to challenge Obama in 2012.

How can anyone take this lady seriously? Really? She should be ashamed of herself, no, actually liberals should be ashamed of this proposal, if I were on the other side of the aisle, I would highlight the "liberals" plans of reducing the deficit and find the loudest blowhorn (Primarily Fox news and other news networks) and incessantly hammer it in until people realize that this is how they plan on reducing the deficit. Which is taxes, taxes and more taxes and doesn't even address the fundamental structural problems of discretionary spending (other than defense, gee what a surprise) and the entitlement programs.

 

They will never come to an agreement, what makes this even worse is that the president appointed Andy !@#$ing Stern. Really? What do you think he will propose?

Edited November 17, 2010 by Magox

[Rob's House]

They pulled a neat trick here. By not letting the crisis go to waste, they capitalized on the opportunity to jack up a budget deficit well over $1 trillion annually. Now when they talk about defecit reduction they use this ridiculously inflated number as the benchmark against which to compare future deficits.

[IDBillzFan]

They will never come to an agreement, what makes this even worse is that the president appointed Andy !@#$ing Stern. Really? What do you think he will propose?

"Hey, Andy. If I put you on a commission will you stop visiting the freaking White House?"

 

Maybe Richard Trumka wasn't available.

[Dave_In_Norfolk]

The best deficit CREATION plan was made by Bush. His "pro-growth" tax cuts led to the worst economic growth for a decade since Wold War Two, we are still pissing away something like $10 billion a month in Iraq--oh, and New York State's budget deficit looks puny in comparison--and the expansion of medicare drugs all unpaid for. Thanks Bush!

 

Schakowsky would cut defense programs by about $110 billion

 

[Magox]

The best deficit CREATION plan was made by Bush. His "pro-growth" tax cuts led to the worst economic growth for a decade since Wold War Two, we are still pissing away something like $10 billion a month in Iraq--oh, and New York State's budget deficit looks puny in comparison--and the expansion of medicare drugs all unpaid for. Thanks Bush!

 

Schakowsky would cut defense programs by about $110 billion

 

 

If you needed proof that this is the worst deficit reduction plan ever....

 

Here it is folks, Dave's endorsement of Schakowsky's plan

[Peace]

The best deficit CREATION plan was made by Bush. His "pro-growth" tax cuts led to the worst economic growth for a decade since Wold War Two, we are still pissing away something like $10 billion a month in Iraq--oh, and New York State's budget deficit looks puny in comparison--and the expansion of medicare drugs all unpaid for. Thanks Bush!

 

"The other guy did it."

 

That always adds so much to solving the problem.

[Adam]

Just cover your eyes. If you don't see the deficit, it isn't there

[TPS]

Read more: http://www.politico.com/news/stories/1110/45200.html#ixzz15VDTHRZW

I think any current change has to include allowing the top rate to expire; I would keep the "middle class" tax cuts. As for her other investment-related tax increases, I'd prefer to see a financial transactions tax on short term ativity, rather than taxing long-term investment earnings.

[Magox]

I think any current change has to include allowing the top rate to expire; I would keep the "middle class" tax cuts. As for her other investment-related tax increases, I'd prefer to see a financial transactions tax on short term ativity, rather than taxing long-term investment earnings.

It's hard to make that argument when the "rich"'s portion of the Bush Tax cuts are expected to add $700B to the national debt over the next 10 years, compared to the "middle class"'s portion of the Bush tax cuts is expected to add $3.3 Trillion.

 

When you add in expected interest payments then you are talking about $840 B vs. $4.16 Trillion

 

They should just let them all expire after a certain period of time. Maybe 2-3 years.

[/dev/null]

The best deficit CREATION plan was made by Bush. His "pro-growth" tax cuts led to the worst economic growth for a decade since Wold War Two, we are still pissing away something like $10 billion a month in Iraq--oh, and New York State's budget deficit looks puny in comparison--and the expansion of medicare drugs all unpaid for. Thanks Bush!

 

Schakowsky would cut defense programs by about $110 billion

 

 

Blah blah blah some random words THEN SOMETHING IN CAPS more words just some rambling then something about BUSH! Not much else here related to the topic at hand just some more BUSH references. A few more random words about nothing in particular

 

Then something positive about a Democrat

 

Copyright 2010 - Dave_In_Norfolk

[IDBillzFan]

You want a good chuckle? Check out this story at the Huffington Post reporting on the next deficit commission recommendation to come out: a 6.5% national sales tax.

 

WASHINGTON -- The nation and its workers remain in grave economic distress, but it's a bull market for alarmist Washington insiders coming up with draconian solutions to projected fiscal problems that might or might not arise years from now.

A second group came out with a deficit reduction plan Wednesday, exactly a week after the two chairmen of President Obama's fiscal commission floated their controversial draft recommendation. (A third group also has some advice as well.)

 

This latest group hails from the Bipartisan Policy Center, and its signature proposal may end up being a whopping 6.5 percent national "Deficit Reduction Sales Tax" -- just the sort of thing that is devastating to people who live on a budget while not really mattering so much to the rich.

 

These few paragraphs really shine a light on why the progressive movement is soon going to be no larger than your run-of-the-mill Coffee Party meeting.

 

You see, in spite of every person in the world crapping purple Twinkies over the pending financial crash this country is headed toward, to a progressive, it's just something that "might or might not arise years from now." (Heaven forbid that logic be applied to global warming.)

 

Next, it's just so casually simple to say that a 6.5% tax rate would "not really matter" to the rich. You see, the rich have it, so they should give it up. Because they have it. No other reason.

 

Those progressives provide quite the laugh track.

[UConn James]

So what is she saying exactly here? Is she saying that upper class Americans caused this deficit.

 

I think she's also saying that increasing taxes on these big, bad companies via carbon credits will not simply result in higher costs for goods/services for middle and lower income people.

 

It may have been grounded toward the hard sciences, but Newton's "every action has an equal and opposite reaction" law has a firm logical basis in the social sciences / life in general. Then again, I'd hazard a guess that most of the Democrat base don't gear toward science & math beyond parroting talking point numbers.

[DC Tom]

You see, in spite of every person in the world crapping purple Twinkies over the pending financial crash this country is headed toward, to a progressive, it's just something that "might or might not arise years from now." (Heaven forbid that logic be applied to global warming.)

 

Now you've done it. Now conner's going to have to Bill Nye your fact-hating ass.

[OCinBuffalo]

So what is she saying exactly here? Is she saying that upper class Americans caused this deficit.

No, he is saying that poor and middle class people create jobs and expand tax revenues, and if it wasn't for the rich people grabbing up all the entitlement money, there wouldn't be a deficit.

 

These guys have to stop making it so easy for their "enemies". This is the dumbest thing I have heard a Democrat say in....at least 2 days. The Republicans don't need to spend money on creating one liners, the Democrats are just serving them up. Every single one of these things is going to come back in 2012.

 

Is the once a day, every day pattern of unforced !@#$ ups by Democrats ever going to stop?

 

This one can be redirected and can be used to hit them hard on 4 different angles of attack:

1. factually incorrect

2. economic buffoonery and inexperience driven by retarded ideology

3. further confirmation that the ideology is retarded

4. another example of amateur hour on display when it comes to governing the country, not campaigning

 

Somebody at the DNC needs to start cracking heads. They can't allow the whack-a-mole to continue.