I Eliminated The Deficit (And You Can Too)
I’m a sucker for fun gimmicks (not accounting gimmicks), so when I saw that the New York Times had an online tool that allowed you to make policy choices I knew I had to play. With a minimal amount of tinkering, I managed to eliminate the deficit in 2015 and in 2030. I don’t really see the need to eliminate it entirely (a little bit of debt is not a bad thing), but it is clear that current projections are not a realistic option. And I wanted to see if I could eliminate. Here are the policies I chose:
Eliminate farm subsidies
Cancel or delay some weapons programs (I took this as a proxy for cut military waste – obviously the devil is in the details)
Enact medical malpractice reform
Cap Medicare growth spending (again the devil is in the details!)
Raise the social security eligibility age to 68 (gradually)
Reduce social security benefits to those with higher incomes
Return the estate tax to Clinton era levels
Raise capital gains tax to 20% for those with incomes above $250K
Allow Bush tax cuts to expire for those with incomes above $250K
Subject incomes above 106K to payroll taxes
Add a millionaires tax, carbon tax, and bank tax.
Go ahead and criticize all you want in comments. But before do, go to the website and say how you would balance the budget.Click here for reuse options!
Copyright 2010 Liberaland