Wednesday, February 16, 2011

Federal Budget

The fight in Washington over spending has started ramping up again. The GOP plan calls for deep cuts to programs like the Peace Corps and labor programs. SS and medicare could see reductions as well. While both sides are trying to find a balance in the budget, it's obvious they have very different ideas about how to do so.

So, what should be cut? First, I think Defense. I know that our national security is a top priority, but shaving money from the budget will force us to consider more cost-effective methods of protecting ourselves. Secondly, raising taxes on the very wealthy (>$10,000,000) will bring in greater revenue to help cover the costs of the rest. Third, freeze spending at current levels and possibly reduce the salaries of our elected officials. Finally, I think we need to reorganize how we tax big businesses (such as offering tax incentives for those companies that choose not to outsource).

Anyone else out there have ideas?

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