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Thread: Coburn proposes $9 trillion deficit cut measure

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    Coburn proposes $9 trillion deficit cut measure

    The plan by Sen. Tom Coburn, R-Okla., is laced with politically perilous proposals like raising to 70 the age at which people can claim their full Social Security benefits. It would cut farm subsidies, Medicare, student aid, housing subsidies for the poor, and funding for community development grants. Coburn even takes on the powerful veterans' lobby by proposing that some veterans pay more for medical care and prescription drugs.

    http://news.yahoo.com/coburn-propose...192145582.html



    now I notice a lot of cuts in this proposal and some of them are pretty good , others .. not so much.. but I did notice one glaring omition tha tshould be pointed out.

    no where in Coburns proposal is where congress critters and senators take a cut in anything, not pay, not medical benefits, not perks , not in travel expenses, nada zip, what do you say? should congress make cuts to themselves before they cut out needed programs for the poor, elderly, and veterans?
    The eastern world, it is exploding, violence flaring bullets loading. you are old enough to kill , but not for voting, this whole crazy world is just to frustrating, and you tell me over and over and over again my friend, you don't believe we are on the EVE of DESTRUCTION.


    Never approach a bull from the front, A horse from behind, or a fool from any direction.

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    waltky (11-08-2012)

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    Re: Coburn proposes $9 trillion deficit cut measure

    I was with his plan until you pointed out no cuts for the Congress...certainly if they are calling on others to make sacrifices they should too. I don't necessarily have a problem with raising retirement ages / SS because people are healthier and working longer now, but I think there are plenty of other places to make cuts first. We need to take care of our poor, sick, elderly and vets. Just shake the sofa cushions in the Pentagon with an audit and I bet they'd find enough missing 'change' to pay down a lot of this deficit. The idea that we can't track the money spent on defense is laughable.

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    Re: Coburn proposes $9 trillion deficit cut measure

    Exactly..... plus I will bet if they were to audit these politicans.....we could pull up all that waste and extravanganse in all that they do.
    Don't only Practice your Art, but force your way into its Secrets, For it and Knowledge can Raise men to the Divine!!!!! Ludwig Van Beethoven ~

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    Thumbs up

    Granny says it just keeps gettin' worser an' worser...

    CBO: Corporate Taxes Up 34% in FY12; Individual Taxes Up 4%;Deficit Still Tops $1T
    November 8, 2012 - The Congressional Budget Office officially reported on Wednesday that the federal budget deficit in fiscal 2012 (which ended on Sept. 30) topped a trillion dollars for the fourth straight year even though federal taxes paid by individuals increased by 4 percent during the year and federal income taxes paid by corporation increased by about 34 percent.
    The increase in corporate federal income tax payments was largely due to changes in the tax rules that corporations were required to follow. “The federal government incurred a budget deficit of $1.1 trillion in fiscal year 2012, the fourth consecutive year with a deficit above $1.0 trillion,” said the CBO. “Revenues from all major sources increased in 2012,” CBO reported. “Corporate income taxes accounted for about 40 percent of the increase in total revenues, rising by $61 billion (or 34 percent) and increasing from 1.2 percent to 1.6 percent of GDP. The growth in corporate receipts resulted largely from changes in tax rules in recent years, particularly those that dictate how quickly firms may deduct the cost of their investments in equipment.”

    Individuals also paid more taxes in 2012, according to CBO. “Receipts from individual income taxes grew by $41 billion (or 4 percent), and remained at 7.3 percent of GDP in 2012. More than half of the increase came from withheld taxes, which rose by $27 billion (or3 percent).” At the same time, defense spending declined in 2012. “Defense outlays fell by $19 billion (or 3 percent) in 2012 after rising at an average annual rate of 6 percent over the past five years. Most ($17 billion) of that decline was attributable to the reduction in the number of U.S. Army personnel in Afghanistan and Iraq. Defense spending was 4.2 percent of GDP, down from 4.5 percent in 2011.” At the same time corporate income taxes were increasing by about 34 percent, economic growth was lagging. In the fourth quarter of 2011, real GDP grew at 4.1 percent, according to the Bureau of Economic Analysis. But in the first three quarters of 2012, it grew by 2.0 percent, 1.3 percent and 2.0 percent.

    The national unemployment rate in October was 7.9 percent, according to the Bureau of Labor Statistics. In January 2009, when President Barack Obama was inaugurated to his first term, it was 7.8 percent. When calculated as a share of GDP, the last four fiscal years have seen the four highest deficits since the end of World War II in fiscal 1946. (Prior to 1974, federal fiscal years ran from July 1 to June 30.) “As a share of the nation’s gross domestic product (GDP), the deficit declined—from 8.7 percent in 2011 to 7.0 percent in 2012—but it was still the fourth highest as a share of GDP since 1946,” said CBO.

    Source

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    Angry

    Granny says, "Dat's right - dem politicians think money grows on trees...

    Feds Collect Record Individual Income Taxes Through March; Still Run $599.7B Deficit
    April 11, 2018 | The federal government collected a record $736,274,000,000 in individual income taxes through the first six months of fiscal 2018 (Oct. 1, 2017 through the end of March), according to the Monthly Treasury Statement released today.
    The approximately $736,274,000,000 in individual income taxes that the Treasury collected in October through March of this fiscal year was $24,473,780,000 more than the $711,800,220,000 (in constant March 2018 dollars) that the Treasury collected in the first six months of fiscal 2017. While the federal government was collecting record individual income taxes in the first half of this fiscal year, both payroll taxes and corporate income taxes declined compared to last year.


    In October through March of fiscal 2018, the federal government collected approximately $560,407,000,000 in Social Security and other payroll taxes. That was $3,210,000 less than the approximately $560,410,000,000 (in constant March 2018 dollars) that the federal government collected in Social Security and other payroll taxes in October through March of fiscal 2017. In October through March of fiscal 2018, the federal government also collected approximately $78,607,000,000 in corporation income taxes. That was $23,992,230,000 less than the approximately $102,599,230,000 that the federal government collected in corporation income taxes (in constant March 2018 dollars) in October through March of fiscal 2017.




    With the $23,992,230,000 cut in corporation income tax revenues between last fiscal year and this fiscal year, the federal government’s overall tax haul in the first six months of this fiscal year declined compared to last year—even while individual income tax payments were increasing. In the first six months of fiscal 2017, the Treasury collected $1,507,935,630,000 in total taxes (in constant March 2018 dollars. In the first six months of fiscal 2018, it has collected $1,497,005,000,000.


    While taking in those $1,497,005,000,000 in tax dollars, the federal government spent $2,096,713,000,000, thus running a deficit of $599,708,000,000 for the first six months of the fiscal year. That is $60,419,720,000 more than the $539,288,280,000 deficit (in constant March 2018 dollars) that the federal government ran in the first six months of fiscal 2017.


    https://www.cnsnews.com/news/article...arch-still-run

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    Tax cuts led to more revenue. But spending is still way too high.
    Alea iacta est

    Check out the blog.


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    Quote Originally Posted by wingrider View Post
    The plan by Sen. Tom Coburn, R-Okla., is laced with politically perilous proposals like raising to 70 the age at which people can claim their full Social Security benefits. It would cut farm subsidies, Medicare, student aid, housing subsidies for the poor, and funding for community development grants. Coburn even takes on the powerful veterans' lobby by proposing that some veterans pay more for medical care and prescription drugs.

    http://news.yahoo.com/coburn-propose...192145582.html



    now I notice a lot of cuts in this proposal and some of them are pretty good , others .. not so much.. but I did notice one glaring omition tha tshould be pointed out.

    no where in Coburns proposal is where congress critters and senators take a cut in anything, not pay, not medical benefits, not perks , not in travel expenses, nada zip, what do you say? should congress make cuts to themselves before they cut out needed programs for the poor, elderly, and veterans?
    The republican terrorist organization is always for throwing Americans on the streets and pulling the rug from under grandma.
    Let the hard working middle class Americans suffer by less social security and Medicare. Let low income American kids die of cold weather and starvation.
    While the billionaires keep on making thier billions and buy more politicians.
    What really needs to happen in order to establish fiscal responsibility is the following:

    - increase taxes on high income Americans and remove all deductions. Why should the tax payer subsidize your electric car, Only the rich can afford Tesla’s anyway... I would rather we remove the scandalous charitable deduction and tax those weathly scum bags instead. This way the money will be spent without prejudice.

    - Military spending should be decreased by half.

    - all domestic programs should be cut by %5 to %10.

    - all four healthcare monopolies, insurance-drugs-doctors-devices, ought to be severely regulated or slammed with a monopsony. This will drastically cut costs.

    - the government should engage with the top economic powers to implement sanctions on all tax haven nations. This will deliver a clout to the no good billionaires attempting to hide thier ill gotten gains from the government.

    - all public servents should not be paid more then twice the median income of the Americans in thier respective states. This will give them an incentive to increase that median. As for thier benefits, it should be curbed and term limits should be implemented.

    If if we do all of that, than we will achieve fiscally balanced budgets.
    The candidates we vote for are seldom the politicians who represent us...

    May god have mercy on our united states of lobbyists...

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    Quote Originally Posted by Scerab View Post
    The republican terrorist organization is always for throwing Americans on the streets and pulling the rug from under grandma.
    Let the hard working
    middle class Americans suffer by less social security and Medicare. Let low income American kids die of cold weather and starvation.
    While the billionaires keep on making thier billions and buy more politicians.
    What really needs to happen in order to establish fiscal responsibility is the following:

    - increase taxes on high income Americans and remove all deductions. Why should the tax payer subsidize your electric car, Only the rich can afford Tesla’s anyway... I would rather we remove the scandalous charitable deduction and tax those weathly scum bags instead. This way the money will be spent without prejudice.

    - Military spending should be decreased by half.

    - all domestic programs should be cut by %5 to %10.

    - all four healthcare monopolies, insurance-drugs-doctors-devices, ought to be severely regulated or slammed with a monopsony. This will drastically cut costs.

    - the government should engage with the top economic powers to implement sanctions on all tax haven nations. This will deliver a clout to the no good billionaires attempting to hide thier ill gotten gains from the government.

    - all public servents should not be paid more then twice the median income of the Americans in thier respective states. This will give them an incentive to increase that median. As for thier benefits, it should be curbed and term limits should be implemented.

    If if we do all of that, than we will achieve fiscally balanced budgets.
    The Marxism is strong in you.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.

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    Quote Originally Posted by Scerab View Post
    The republican terrorist organization is always for throwing Americans on the streets and pulling the rug from under grandma.
    Let the hard working
    middle class Americans suffer by less social security and Medicare. Let low income American kids die of cold weather and starvation.
    While the billionaires keep on making thier billions and buy more politicians.
    What really needs to happen in order to establish fiscal responsibility is the following:

    - increase taxes on high income Americans and remove all deductions. Why should the tax payer subsidize your electric car, Only the rich can afford Tesla’s anyway... I would rather we remove the scandalous charitable deduction and tax those weathly scum bags instead. This way the money will be spent without prejudice.

    - Military spending should be decreased by half.

    - all domestic programs should be cut by %5 to %10.

    - all four healthcare monopolies, insurance-drugs-doctors-devices, ought to be severely regulated or slammed with a monopsony. This will drastically cut costs.

    - the government should engage with the top economic powers to implement sanctions on all tax haven nations. This will deliver a clout to the no good billionaires attempting to hide thier ill gotten gains from the government.

    - all public servents should not be paid more then twice the median income of the Americans in thier respective states. This will give them an incentive to increase that median. As for thier benefits, it should be curbed and term limits should be implemented.

    If if we do all of that, than we will achieve fiscally balanced budgets.
    The Marxism is strong in you.
    Call your state legislators and insist they approve the Article V convention of States to propose amendments.

  11. #10
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    Quote Originally Posted by MisterVeritis View Post
    The Marxism is strong in you.
    The tawdriness and indoctrination is very strong in you....
    Last edited by Scerab; 04-11-2018 at 07:49 PM.
    The candidates we vote for are seldom the politicians who represent us...

    May god have mercy on our united states of lobbyists...

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