Tuesday, July 17, 2012

Fwd: Let it all end

What I really want is to indefinitely  freeze total government spending in absolute dollars or reduce government spending in inflation adjusted dollars.  Tax issues are secondary.  I would like to see a $ 3.5 T cap. 

---------- Forwarded message ----------
From:   Larry 

I am starting to think we need to let everything end in 2012…

 

They say if we let all current legislation end, the current 3% GDP growth will be 0% this year.

 

Let's cut non-entitlement domestic spending by 8%

Let's cut the military by 10%.

Let's let all income tax cuts expire.

Let's let the AMT fix go away.

Let's let  the Capital gains rate cut expire.

Let's let the Payroll tax cut expire.

Let's let the Medicare payment cut take effect.

Let's let unemployment extensions go away.

Let's let the death tax come back.

Let's let the marriage penalty come back.

Let's let all temporary tax breaks for business expire.

 

This will reduce our 1 trillion dollar  deficit by 500 billion dollars next year.

Then we reach our debt ceiling early next year.

And can figure how to cut spending and raise taxes to reduce the deficit by another 500 billion dollars.

 

http://money.cnn.com/2012/04/30/news/economy/fiscal_cliff/index.htm?iid=EL

 

http://money.cnn.com/2012/07/16/news/economy/fiscal-cliff/

 

 




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Best wishes,

John Coffey

http://www.entertainmentjourney.com

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