Read PDF Fiscal Cliff of 2012: Balancing the Budget, Saving Our Social Safety Net

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If you are looking for easy answers to our most challenging problems, this text is not for you. If you are ready to become part of the solution to our long term prosperity, perhaps you will find recommendations that will allow you to do just that. The book presents how America's entitlement programs can be reformed, refinanced and restructured to guarantee their long-term solvency at a cost taxpayers can afford to pay.

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Stock Image. Published by Independently published. New Condition: Brand New Soft cover. Save for Later. Wages our standard of living has been forced down in real money since the sixties experts agree.

What's the 'Fiscal Cliff'?

Now lets extrapolate from these widely reported figures and facts. Where would the entitlement programs be today if we had a modest pay increase per yr. So my point is, this is all orchestrated, this whole problem was brought about by programs to to lower the standard of living in America.

Simple: largest group of people taxed more means largest tax revenue. The hidden agenda — if the US raises taxes on the middle class, they can raise taxes less on the rich and let them keep a lot of their deductions which will not be affected. Callahan, we are not stupid. Where I take offense is when that person decides his guilt should include me. If a thing, even protection, is truly necessary then it will be supported through voluntary contribution of time or money.

Everything else is theft no matter how much sweetener you dump on it. I had a reply for robb1, but Reuters editors have cut me off and my reply simply disappeared into cyberspace.

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Just sayin. You might have a worthwhile in there somewhere, but who would know given the size of that tome you wrote. Obama has to do exactly nothing in order to have the government collect more revenue, and I think Boehner and the House of Representatives is going to help Obama to do just that. Current spending is unsustainable even repealing all the Bush tax cuts. In with 3. Just based on higher spending.

If we want even higher taxes we have to tax everyone who works. Letting the top rate go back to Raising rates to A drop in the bucket. People are sure we can simply tax those nasty rich people and voila, deficit fixed.

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Doing that will buy the US economy time to reduce its spending in a measured and sensible manner. ANY other solution is guaranteed to throw the economy into a recession, or worse, just to keep the wealthy class living in the style to which they have become accustomed. I was merely toying with you, but I am bored with picking the low hanging fruit from the tree of stupidity.

Very effective. Thus, my exasperation. The fix is going to have to include spending cuts and, unfortunately, tax increases. Having said that, the ratio will need to be heavier on the cuts on spending v. The real solution must include big cuts in govt spending. Thank you.

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  5. I read the blog link you included and I now understand your views are basically libertarian. I believe a balance of budget cuts and tax hikes are necessary for this country to survive — which is not what you intimated earlier, but a more realistic approach that is much closer to mine — however I think the percentage mix would still be far more than the economy could handle at any reasonable point in the future, because this country is in serious decline, not expanding as is generally believed.

    Fixing the current infrastructure that is need of repair is pointless while the economy is in decline, since it will simply add to our cash outflows at a time when we must conserve them. This will create — because of the massive changes in demographics that has occurred since WWII — a highly unstable society that will probably cause the government to collapse.

    I understand this may be desirable from a libertarian viewpoint, but it is unrealistic because it would mean some type of violent revolution as people begin to lose their life savings and are forced into the streets. I have indicated what I believe to be an acceptable solution to that problem elsewhere. Basically, 1 remove Social Security from government control because the apparent problems with Social Security are directly related to government mismanagement of the Social Security Trust Fund, 2 remove the cap from Social Security, which would apply the tax but with no company contribution equally to all people regardless of income level.

    This would allow the social programs to function as they were designed i. This must be done because insurance of any kind only functions properly if the risk is spread to a broad base. That is not insurance by any definition of the word, and is one of the major problems with Social Security right now. The wealthy need to contribute because they do not live in a vacuum.

    Their money is made from the broader consumer economy, so they should contribute to those who support them. And 3 flexibly adjust the contribution each year to meet the requirements of the social programs so that the revenue supports the outflows in a balanced manner. One of the problems in previous years is that the trust fund was allowed to build a surplus, which was then misused by the government.

    By automatically adjusting the tax on a regular basis it would prevent any excess buildup. I understand that libertarians do not want any social programs, but that is extremely unrealistic in modern society which is highly integrated and failure of one part means failure of the whole machine. A flat tax is a misnomer because it is anything but flat if you do the math on how it affects different income groups. And no amount of adjustment can overcome the basic problem of it being a regressive tax.

    The fact that this is not capitalism, but a distorted version of it lies at the root of all of our problems. The whole system is skewed towards the wealthy.

    That is what we must fix. Roughly since we began trade with China, the wealthy class has managed to dismantle all the safeguards previously in place to protect the economy. These safeguards were placed into law in the aftermath of the crash, which was caused by the same type of wealthy excess during the s that caused the markets to crash from easy money and speculation. Adam Smith also said that capitalism without proper safeguards would lead to collusion of the wealthy and undue influence on politics to their advantage.

    Without correcting the underlying problem, the US economy will crash hard quite soon, probably by next year as things stand right now.

    Fiscal Cliff Of 2012 Balancing The Budget Saving Our Social Safety Net English Edition

    However, you might like to check the following website on progressivism. I dislike any label being applied to me, but my core beliefs are probably closer to this philosophy than anything else. Longer term, total govt spending should be smaller than it is now.