How would you fix the economy and budget issues?

[NC_Skins]

I was asked in another thread about "what would I do about taxes?" in another thread so I wanted to pose what would you do to fix the economy. How would you create jobs in America? What would you do with taxes on businesses (both small and corporate)? How would you fix out budget to where we had a surplus in our budget?

(a nice picture graph and detail of the budget)
WallStats - Death and Taxes & Taxes

[mlmpetert]

Raise taxes on the rich and on businesses and give everyone else a fiscal stimulus so they can turn the economy around and buy stuff from profit seeking corporations. Extended un-employment benefits beyond 99 weeks . Provide healthcare to all and lower costs. Extend Medicare and ss benefits. Enforce Cap and Trade on all businesses. Lower eligibility requirements so that more people can receive refundable tax credits (ie earned income credit, making work pay credit, home buyer credit, American opportunity credit) and other social aid. Do something about this “monetary policy” I keep hearing about.

[redsk1]

It's funny how everyone seems to blame Bush or blame Obama, but when posed the question, it's not so easy. I don't pretend to know. I know that we are going to have to let this real estate problem play out over time. I know that we are going to have to solve or at least improve our reliance on foreign oil. I know that we are going to have to lower our high unemployment rate.

So, I really didn't give an answer.

[Schneed10]

- If not completely privatize social security, at least authorize the fund to broaden its investments to include a portion of equities and corporate bonds.

- Increase the retirement age significantly, to 72 - 75 or so. Apply this to both social security and Medicare.

- Instead of funding unemployment for up to 99 weeks, give people the option of either staying on unemployment either for 6 months and end it, or 1 year with subsidies for retraining or education (but you have to make the grade or you're out). So you either head back to school and sharpen up, or you sink/swim after 6 months.

- Scale back on air defense spending. Our strategic advantage via air superiority can still be maintained even if we go a little less star wars.

- Institute laws aimed at restricting the growth in cost of higher education. There's no reason colleges need to build giant mock stock trading floors in these state of the art business schools and then turn around and charge $48,000 a year. In the end, kids these days are having to pay for unnecessary bells and whistles. Make college education more affordable by restricting their ability to spend and build.

[NC_Skins]

Originally Posted by Schneed10

- If not completely privatize social security, at least authorize the fund to broaden its investments to include a portion of equities and corporate bonds.

Yes and No. You couldn't put it into anything of high risk that could end up collapsing like many people's 401ks did these past few years.

Originally Posted by Schneed10

- Institute laws aimed at restricting the growth in cost of higher education. There's no reason colleges need to build giant mock stock trading floors in these state of the art business schools and then turn around and charge $48,000 a year. In the end, kids these days are having to pay for unnecessary bells and whistles. Make college education more affordable by restricting their ability to spend and build.

Not sure where you get this from. I think you've seen a couple of instances and have decided all universities are doing this. I work for a division I university and I can assure you that there isn't anything like this that you are speaking of. (or any other unnecessary bells and whistles)

[Schneed10]

Originally Posted by NC_Skins

Yes and No. You couldn't put it into anything of high risk that could end up collapsing like many people's 401ks did these past few years.

Obv. You'd mix in the appropriate proportion of stocks, bonds, commercial paper and other short term investments. No unnecessary risks, but no unnecessary conservatism either.

Originally Posted by NC_Skins

Not sure where you get this from. I think you've seen a couple of instances and have decided all universities are doing this. I work for a division I university and I can assure you that there isn't anything like this that you are speaking of. (or any other unnecessary bells and whistles)

Both universities I attended (one undergraduate the other graduate) built these amazing business school buildings in the last five years. Mock stock trading floors, a real stock ticker (same size you see on the floor of NYSE). It's a trend amongst business schools fostered by a keeping up with the Jones's mentality. Wharton was one of the first to have it, so of course the others felt the need to follow suit.

My graduate school (and employer) also just built this insanely beautiful new building for the medical school. Absolutely gorgeous. I just question the need for it.

You clearly don't think investments in plant & equipment are responsible for the growth in college costs. I ask you then, if that's not the cause, what is?

[Slingin Sammy 33]

Here you go, piece of cake.

http://www.thewarpath.net/debating-w...tml#post758491

[NC_Skins]

Originally Posted by Slingin Sammy 33

Here you go, piece of cake.

http://www.thewarpath.net/debating-w...tml#post758491

How about the economy? Jobs? Inflation? Taxes?


I'll comment on what I would do tomorrow when I have more time. I'll comment on the other suggestions about the budget too.

[Slingin Sammy 33]

Originally Posted by NC_Skins

How about the economy? Jobs? Inflation? Taxes?


I'll comment on what I would do tomorrow when I have more time. I'll comment on the other suggestions about the budget too.

You get the defecit and National Debt under control and you immediately will increase consumer confidence and increase $$$ flowing in the economy....which creates jobs.

As to taxes, I support the FairTax system. Under FairTax their are no corporate taxes, so overseas corps will look to locate in the U.S. Also, U.S. corps can make decisions based on what's best for business, not what tax ramifications a decision would have. This will also prevent some job losses overseas.

End most drilling restrictions that have been put in place under the Obama Admin. This will also give the economy another boost in 9-18 months and help consumer and corporate confidence in the short term (it wouldn't hurt Obama's re-election chances either as lower gas prices and a recovering economy would help him in 2012).

[NC_Skins]

Originally Posted by Slingin Sammy 33

Here you go, piece of cake.

http://www.thewarpath.net/debating-w...tml#post758491

I find your budget cuts interesting to say the least. You want to basically destroy Social Security and Health Care and raise it to a level (70) that most people will probably never see.

Why reduce federal employee pay? You do realize that most federal employees are middle class right? That will do wonders for the economy.

Let me get this straight, you don't want to reduce spending on making more ships or weapon programs, but you want to screw the veterans over on their health care plans?...lol REALLY??? Do you own stock in Lockheed Martin? It would appear so.

I assume you didn't mark anything in the "taxes" section because of your "Fair Tax" stance.

You are a true republican to the hilt.

Originally Posted by Slingin Sammy 33

If the system is going to stay solvent, it's either that or massive tax increase on everyone.

...or you know....cut military spending?

Originally Posted by Schneed10

Why would I be?

When Medicare and Social Security were put into place, the retirement age was set at 65, but people only lived to their early 70s on average.

People have been paying into SS their whole working life, and now you want to reduce that to a mere couple of years? Wow. Advice, never run for office and use that as your platform. Even the Repubs would laugh you out.

[firstdown]

Originally Posted by NC_Skins

I find your budget cuts interesting to say the least. You want to basically destroy Social Security and Health Care and raise it to a level (70) that most people will probably never see.

Why reduce federal employee pay? You do realize that most federal employees are middle class right? That will do wonders for the economy.

Let me get this straight, you don't want to reduce spending on making more ships or weapon programs, but you want to screw the veterans over on their health care plans?...lol REALLY??? Do you own stock in Lockheed Martin? It would appear so.

I assume you didn't mark anything in the "taxes" section because of your "Fair Tax" stance.

You are a true republican to the hilt.




...or you know....cut military spending?




People have been paying into SS their whole working life, and now you want to reduce that to a mere couple of years? Wow. Advice, never run for office and use that as your platform. Even the Repubs would laugh you out.

You do know that Obam has talked about raising the retirement age?

[NC_Skins]

Originally Posted by firstdown

You do know that Obam has talked about raising the retirement age?

Obama has been doing a lot of stupid shit since his election so I'm not surprised.

[dmek25]

Originally Posted by firstdown

You do know that Obam has talked about raising the retirement age?

any proof?

[Slingin Sammy 33]

Originally Posted by dmek25

any proof?

Here you go.

Obama Considers Raising Social Security Age to 70

YouTube - ‪Obama Open To Raising Social...

[Slingin Sammy 33]

Originally Posted by NC_Skins

I find your budget cuts interesting to say the least. You want to basically destroy Social Security and Health Care and raise it to a level (70) that most people will probably never see.

Current life expectancy overall in the U.S. is: 77.9.

The gov't shouldn't be in the business of providing people a retirement fund. People should invest their own money, their own way for retirement. We're already too far down that road for many folks, so obviously current and near retirees need to be protected at status quo. However adjustments to SS need to be made for those further out. BTW those adjustments will hurt folks like me who have paid into SS for many years yet face an age increase, benefit reduction, or means testing. Younger folks who haven't paid in as long are less invested, hence affected less.

I'm sure you understand the SS fund has been raided for years by the fed and is essentially a big, fat IOU. If a private corporation had managed its retirement fund the way SS has been managed they would be prosecuted and jailed.

Why reduce federal employee pay? You do realize that most federal employees are middle class right? That will do wonders for the economy.

From the survey:
During the Great Recession, most private-sector employees have seen their wages frozen, and some have even watched wages decline,” the chairmen of the deficit panel wrote. “In contrast, federal workers have seen their wages increase.” This option would be a one-time 5 percent cut in federal civilian workers’ pay; the chairmen called for a three-year freeze on pay, which would have a similar effect.

The part about private sector pay being frozen or reduced through forced unpaid leave is true, why shouldn't the federal workers feel some pain as well.

Let me get this straight, you don't want to reduce spending on making more ships or weapon programs, but you want to screw the veterans over on their health care plans?...lol REALLY??? Do you own stock in Lockheed Martin? It would appear so.

As usual with you far lefties, you demagogue endlessly

Again, from the survey:
Would change health-care plan for veterans who had not been wounded in battle. Premiums, which have not risen in a decade, would rise. More veterans would receive health insurance from employer. This option would also take some benefits, like housing allowances, into account when tying military raises to civilian pay raises. Currently, increases in those benefits come on top of pay raises.

No one is "screwing" veterans, just having them pay slightly more for their health care premiums.....just like everyone else. This also states; non- wounded veterans.

As far as weapons systems, we are already cutting redundant or unneeded weapons systems and the DoD is seeing funding cuts across most agencies/departments. I live in VB and we just saw a massive reduction in JFCOM. So the whole "cut military spending" argument is baseless unless you can bring specific programs or systems that you believe should be cut.

You do realize the majority of military spending is on personnel (soldier/sailors/airmen pay) and operations & maintenance. Should we cut O&M and not maintain our facilities and equipment???? How about cut soldiers pay????

I'm sure you also realize these weapons systems and gov't contractors that are so evil and terrible provide thousands of well-paid tech jobs across the country.

I assume you didn't mark anything in the "taxes" section because of your "Fair Tax" stance.

I only marked a small tax increase because the only way to stop a runaway train is to cut off its fuel supply. If we continue to increase taxes to the fed, the politicans and lobbyists have a larger trough to feed from and they will continue their nonsense.