Quote:
Originally Posted by Villages Kahuna
In principle, I don't disagree with your posit. But when it's reduced to actually coming up with a list of things which can no longer be afforded, the question becomes more difficult.
Try this list on for size. I wish I could be more precise in the savings that could be attributed to each item--I could if I took the time to do enough reserach, but life is too short for all that work. So let's just say that the following changes were made in the federal budget. I'm guessing the savings would be pretty dramatic.
- Eliminate any Social Security payments to any citizen who has reported taxable income exceeding $50,000 per year or owned assets (real estate or financial) exceeding $500,000.
- Reduce Medicare coverage to only "catastrophic" coverage for any citizen who reports taxable income of $50,000 or more or owned assets (real estate or financial) exceeding $500,000.
- Eliminate all federal funding for Medicaid. Such healthcare coverage should be the responsibility of the states.
- Eliminate all federal funding for roads and highways except those that are currently classified as "interstate highways". All other transportation infrastructure expenditures (roads, highways, bridges, public transportation, etc.) shall be funded by the states. (The theory here is that the federal government should be responsible for transportation needed for interstate commerce with the states and locaities funding transportation assets needed for intrastate commerce.
- Eliminate any and all agricultural subsidies. Let the free market determine which agricultural products should be produced within the U.S. and which are better produced elsewhere in the world.
- The IRS Code shall be discontinued and the IRS disbanded. The federal income tax shall be replaced with a flat tax of 8% of reported income for every American citizen and all properly documented foreign nationals, with no deductions, exclusions or credits of any kind.
- The IRS Code shall be modified to require a 20% tax payment by all commercial enterprises based on revenues with no deductions, exclusions or credits of any kind.
- The federal government shall assume the cost and responsibility for the operation and funding of all public schools in the country. Concurrently, any and all local taxes levied for education by state and local governments shall be discontinued. The federal government will fund the operation of all schools from the proceeds of a value added tax assessed on the sales revenues of any and all commercial enterprises with sales greater than $100,000 per year. Schools shall be operated according to standards and regulations established by the federal government. (This change is made in recognition that education is fundamental to the national economy and should not be managed by states or localities.)
- All federal welfare payments or programs shall be discontinued. They should be the responsibility of states and localities.
- A national program of medical insurance shall be introduced covering every American citizen and foreign nationals residing here with proper documentation. The federal government will negotiate payments for all medical, surgical and prescription medical care. The premiums for this medical insurance shall be paid by each and every taxpayer as a flat percentage of their reported income (citizens with lower income will pay less than those with high income). No private medical insurance will be permitted or used to fund healthcare. There shall be no payment for medical care for anyone other than U.S. citizens or properly documented foreign nationals. Nor will hospitals or doctors be required to provide treatment to foreign nationals who are not properly documented.
- The federal budget shall require that the total of all federal expenditures be limited to 95% of trailing year actual revenues. The remaining 5% of revenues shall be used to retire federal debt until such time as debt is reduced to a level of 20% of trailing year GDP, after which time the "debt reduction" element can be used for resumed spending programs.
There, that's probably a good start at reducing federal expenditures and shifting responsibility for a number of functions to individuals and the localities or states where they reside.
Anyone think they could get elected on this platform? |
VK,
First of all, I have no idea what I am doing in Political. What was I thinking? But here I am, and before I flee for the exit, I just have to say something.
VK, I have read through this list 3 times. I might be missing something here. I admit, I did not really carefully read the
Time article that you linked.
But I read this list 3 times. I am sitting here trying to convince myself that this list is satire.
Where did this list come from? VK, if this list is your list, you must immediately set fire to it. Some politician might see it.
About that SS thing you have on there, first thing. For years, I have been saying that it will come to that. A hot topic of discussion among my early boomer friends is when to take it. I always say to take it as soon as you can and run as fast as you can. (My theory only. I do not give professional financial advice.) VK, I have no doubt that Number 1 on that list will come true. The numbers might vary. But it will come true. It might be good to be an old boomer.
State and local governments absorbing welfare completely, huh. Gives new meaning to the term "Welfare State." Gee, I wonder which state they would all move to.
And don't get me started on the evisceration of our public schools. That's another thread all together, and I am not going there. Boomer mostly likes to have fun around here.
VK, please tell me that list is satire. You and Jonathan Swift, right? If so, please indicate.
Actually, I am begging you, please set fire to that list immediately.
That list is indeed Orwellian.
Burn it before somebody does get elected on it.
Has anybody read
Boomsday? I just hope Christopher Buckley has not sold the movie rights. Somebody will take it seriously when it hits the masses.
In the book
Boomsday a blogger starts the idea of the government giving tax incentives to boomers, along the way, if they agree to bump themselves off after a certain point. The blogger thinks she is writing satire. Well, guess what. Somebody gets elected on it.
Burn, VK, burn.
Boomer