Quote:
Originally Posted by afc wimbledon
You can do all of this and you still need to gut the military, close homeland security, end the war on drugs etc.
On top of this wage and pension cuts to federal employees will negatively affect the US economy on a huge scale, from an economic point of view tax increases for the rich is far less damaging.
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I don't understand why people are saying you need to 'gut' anything. You need to reform certain programs to make sure they are sustainable long term.
If there is no money left in the SS fund because the baby boomers are taking it all, obviously that won't help the US long term. So if you need to raise the 'retirement' age to 68 in order to deal with that problem, you do it.
As for tax increases for the rich, we already know that its a problem that needs to be fixed. The loophole problem needs to be fixed too.
The $600 billion in added revenue from closing the loopholes and reducing the corporate tax rate is an added bonus to the whole problem. The bigger picture should still be the level playing field to help small businesses compete in a VERY competitive economy.