The New Democrat Online

Tuesday, December 18, 2012

The New Republic: Jonothan Cohn: A Fiscal Deal Is Emerging—But Is It Any Good?: What a Final Deficit Reduction Agreement Could Look Like

A Fiscal Deal Is Emerging—But Is It Any Good? | The New Republic

The fact that Speaker Boehner is putting a millionaires tax on the table is a good sign and something that the President. Should agree to right now and what Republicans would get in return is changes to Medicare and Social Security. Where the wealthy would pay more for their benefits and pay more into those programs before they start. Collecting from them and a gradual increase in the retirement age that would only effect people who can afford. To work longer meaning not people who work back breaking jobs and need Social Security and Medicare earlier. Then wealthy people to pay their bills and that the spending on Afghanistan and Iraq would go towards deficit reduction. Not back in the defense budget and both the House and Senate agree to take up comprehensive tax reform. In the next Congress and appoint people to work on that and that there would be a new type of economic growth package. That would be put together either now or in the next Congress that has things in it that contribute to new. Economic growth that both sides like, lower taxes on business's that invest that money in America and new infrastructure investment.

I would go much further and put in new reforms to Medicaid and Unemployment Insurance, as well as Welfare Insurance. And block grant these programs to the states and make them fully funded with their own dedicated revenue. So the states wouldn't have to pick up new costs to run them and have the Feds supervise or oversee what the states. Are doing with basic Federal regulations but no longer running these programs themselves and turn these programs. Into more empowerment programs where people on them would have the opportunity to work their way off of them. And into the middle class through education, job training and job placement, we could save hundreds of billions. Of dollars a year long term doing this, as well as closing bases oversees in developed nations that can afford to. Defend themselves but I don't here anyone proposing these ideas because of the political consequences of it. And the people they would have to take on in order to pass a package like this.

What I hope comes out of this is that the middle class which has been struggling for twelve years under two. Presidents will be spared from future pain meaning no tax hikes, that everyone making up to a million. Dollars a year would be spared from a tax hike and then taxes would go up after a million dollars and that. The payroll tax holiday would be extended for at least two years, that we have new infrastructure investment. And start rebuilding this country and putting more people back to work and that we do something that. Encourages business's to invest more in America which again would put more Americans back to work but we'll see what develops.