|Forum topic by Joe Lyddon||posted 811 days ago||2938 views||0 times favorited||99 replies|
811 days ago
Suggested List of things we should do to Solve our Problems:
1. Medical Costs… Fix it.
2. Pass the recommendations of Simpson-Bowles. It wasn’t perfect, but it included cuts in social programs, military spending, and increases in taxes, all of which are required to get things going in the right direction.
3. We should all vote for reps that will focus on solving this problem,
4. Get an actuarial analysis on what the rates have to go to to make SS 100% self funding from payroll taxes. Next, a national referendum on SS: Do we keep it paying benefits as they’re structured now, and are willing to pay the price to fully fund it (I believe the payroll tax needs to increase by about 2% of pay [currently 12.4% split between employee and employer]), or do we want to phase SS out. I guess it comes back about 80% in favor of keeping it as is, so we increase payroll taxes for SS. Everyone pays. (bonus points for means testing SS, and reforming the SS disability program to eliminate fraud.)
5. Similar with Medicare. Probably require tripling or quadrupling Medicare taxes (now 2.9% total), but I bet most folks vote in favor (+70%). Once this is done a binding panel needs to be set up to constrain the growth of Medicare. I’d like to see significantly higher costs placed on those that smoke and are significantly overweight. Those two life style choices are a huge drain on medicare. I’d also revoke Medicare part D, it was never paid for and is too expensive; nice to have, but… Medicare has to stop paying everything for everyone. My parents and in-laws are all on it, and it is way too generous; much better coverage than my private insurance.
Both these programs need to be divorced from the general fund and made to be self sufficient. Every few years the tax rates for SS and Medicare should be adjusted, up or down, per actuarial analysis to maintain solvency. If the rates are too high, benefits have to be cut. Forces transparency, and makes the beneficiary of the program pay their own way.
6. Completely revoke the Bush tax cuts, for everyone.
7. Set capital gains rates equal to earned income. Why do we value investment over actually working for a living. Both are needed, all income should be treated the same.
8. Implement the spending cuts and tax reforms in Simpson Bowles, but I would slash Defense by about 50%. We can no longer afford to be the worlds police force. We need national defense, not the ability to wage multiple elective foreign wars simultaneously.
9. Panels independent of each cabinet agency should be set up to review all programs and sort through the nice to have that the must have programs. All nice to have programs go. Food inspection stays, farm subsidies go. Air traffic control stays, no child left behind goes. Private businesses do this routinely when times get though. Time to streamline
10. Completely overhaul the federal tax structure. Chop the tax code to 10 pages tops. Forget loopholes and capital gains rates. They are trivial. Everyone needs skin in the game. Except for the dead, everyone should pay taxes. EVERYONE.
11. Stop demanding “gifts” from the federal treasury. Cut the actual entitlement programs, not just the amount of growth each year. It has gotten ridiculous.
12. Cut the size of the federal government. Private business is the lifeblood of this country. Not government.
13. Stop letting our elected federal leaders live like kings. They are not our royalty. They need to live by the rules they make for use, not special rules they pass for themselves.
14. Stop the massive printing of money by the FR. Scratch that. Dump the FR.
15. Stop punishing good decisions, productivity, efficiency, honest labor, hard work, risk.
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