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How Much Extra Money Will Raising Taxes On The Wealthy Bring In?


Ransack
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Between 50-60 billion a year. Roughly 5% of the current budget deficit.

What abt a balanced Budget amendment? $50 billion doesnt even pay the Chinese for the money we borrowed from them, per year.

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What abt a balanced Budget amendment? $50 billion doesnt even pay the Chinese for the money we borrowed from them, per year.

Don't know why I try, but... So how do we cut the big three without putting ourselves directly into a recession or perhaps a depression? Or do we only gut social spending and no military.

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We need the military. how else can we start wars with tiny countries that do nothing to us?

The military is about much more than starting wars in tiny countries. Ask Andrews 31 about the opportunities Defense spending gives to minorities and women, the good paying jobs it provides millions of people and the peace of mind that comes along with having the greatest military on earth. You anti-defense spending hawks really are oblivious to the dominoes that will fall if you are allowed to gut our military.

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Don't know why I try, but... So how do we cut the big three without putting ourselves directly into a recession or perhaps a depression? Or do we only gut social spending and no military.

Cut spending. Start with 10% across the board. Anyone who cant squeeze 10% out of their budget needs to find another job. Then address agencies on a case by case basis. Eliminate the absurd amount of redundant spending programs. Washington is not serious about solving their deficit problems. They are just waiting for the economy to rev up again so that they can continue to kick the can down the road.

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Agree with garrow. Get rid of the Religious tax exemption.(If they are truly nonprofit, then they can keep it under nonprofit clause, but these megachurches are definitely trying to profit from the word of god, and do not deserve tax free money)

Also End War on drugs( especially Pot). It is a waste of money. It would be swing from costing billions to us making billions. Also would cut down on crime, since illegal drugs are what keep the cartels running.

Cut Defense spending. According to this article, we could save over 688billion( from 2013 to 2022) from the defense budget, and even with these savings, we would be at the 2007 spending budget for the DoD, which is when we were still in Iraq and Afiganistan.

http://www.pogo.org/pogo-files/reports/national-security/ns-wds-20120508-national-security-defense-savings.html

Let the bush tax cuts expire, close all loop holes.( or adopt a new tax code similar to paul ryan without the no capital gains tax.)

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