Friday, April 08, 2011

LET'S KEEP IT SIMPLE

E. D. Kain uses the NY Times budget calculator to come up with an alternative to Paul Ryan's nonsense.  Here's his summary:
Basically, cutting back the military to pre-Bush levels, and reverting back to the Clinton-era tax rates is all you need to do to fix the deficit.
You can try other calculators but this should be considered a serious proposal, not the voodoo economics and screw the poor claptrap from conservatives.

I chose a different mix of cuts and taxes:
Reduce nuclear arsenal and space spending
Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe
Reduce Navy and Air Force fleets
Reduce the number of troops in Iraq and Afghanistan to 60,000 by 2015
Return the estate tax to Clinton-era levels

Return rates on investment income to Clinton-era levels
Allow expiration of Bush tax cuts for income above $250,000 a year
Payroll tax: Subject some incomes above $106,000 to tax

Eliminate loopholes, but keep taxes slightly higher
Carbon tax

These result in a surplus of $60 billion in 2015 and deficit of $234 billion by 2030.

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