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View Diary: Insolvency, tax cuts, military spending and social security (188 comments)

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  •  All of the above (2+ / 0-)
    Recommended by:
    divineorder, hmi

    But, it's nowhere near enough.

    Allowing the Bush tax cuts (for all) to expire next year is a good start.  I hope they let the payroll tax holiday expire as well.

    Then close down military bases all over the world.  We are not the world's police force.

    But I'm also in favor of cutting back domestic spending.  Let's eliminate subsidies for oil companies.. but eliminate them for all industries... and agriculture as well.

    Then reduce corporate taxes just enough to encourage business growth here domestically.  Since Japan lowered its rates last month, we are now have the highest corporate tax in the world.

    •  Let's start with those things (8+ / 0-)

      and see where we are.

      •  These are what I call a good faith first steps. (10+ / 0-)

        I would add a modest hike in the Social Security cap on income contributions.

        First take good faith steps to get back to a rational level setting state and only then assess the long term needs for SS.

        Health care requires a national solution, not a federal budget solution.

        These things will fix the deficit.

        Eliminate the Bush tax cuts Eliminate Afghan and Iraq wars Do these things first before considering any cuts

        by kck on Tue Apr 24, 2012 at 08:36:21 AM PDT

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      •  C'mon Armando. That's too smart. (1+ / 0-)
        Recommended by:
        Matt Z

        Don't you realize? The libertarian/conservative answer is always that there is nothing we can do to solve our problems, so we have to kill the only agency that addresses them (i.e., the government.) Same thing applies to individual problems: if we can't solve the entire problem all at once, we shouldn't try anything at all.

        "Lone catch of the moon, the roots of the sigh of an idea there will be the outcome may be why?"--from a spam diary entitled "The Vast World."

        by bryduck on Tue Apr 24, 2012 at 05:05:39 PM PDT

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    •  The Big Lie --- U.S. Has Highest Corp Tax Rate (0+ / 0-)

      What bullshit!  We don't have the highest corporate tax rate in the World because we have various deductions, carry forwards and carry backs that go along with our high tax rate.

      The U.S. Has a Low Corporate Tax: Don’t Believe the Hype about Japan’s Corporate Tax Rate Reduction

      America has one of the lowest corporate income taxes of any developed country, but you wouldn’t know it given the hysteria of corporate lobbying outfits like the Business Roundtable. They say that because Japan lowered its corporate tax rate by a few percentage points on April 1, the U.S. now has the most burdensome corporate tax in the world.

      The problem with this argument is that large, profitable U.S. corporations only pay about half of the 35 percent corporate tax rate on average, and most U.S. multinational corporations actually pay higher taxes in other countries. So the large majority of Americans who tell pollsters that they want U.S. corporations to pay more in taxes are onto something.

      The U.S. Has a Low Corporate Tax

      Read the full Report Here

      Citizens For Tax Justice Report

    •  "We" are "the world's police force" the same way (0+ / 0-)

      The Summerdale Police District was "Chicago's police force" back in the late '50s, early '60s. http://gangresearch.net/...

      "Is that all there is?" Peggy Lee.

      by jm214 on Tue Apr 24, 2012 at 05:49:01 PM PDT

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