Posted on 06/07/2022 7:25:57 PM PDT by RandFan
Senator Rand Paul (R-KY) has introduced a plan to slash federal spending and balance the budget within five years; the Kentucky Senator’s bill includes trillions in budget cuts —he says we can’t ignore the problem any longer.
“Five years ago, we could balance our budget with a freeze in spending. Not cut anything. Since then, our debt has skyrocketed to $30 trillion with $2 trillion just from this past year,” Paul said in a statement. “We cannot keep ignoring this problem at the expense of taxpayers, and my budget will put our nation on track to solve this crisis that Congress created.”
According to Fox News, “The Kentucky Republican’s proposal, a copy of which was first obtained by FOX Business, would yield a $65.8 billion surplus by fiscal year 2027. Collectively, the plan spends about $4.2 trillion less than the nonpartisan Congressional Budget Office estimated during that time period, a person familiar with the matter said.”
“The plan calls for cuts across the budget, excluding Social Security, which is racing toward insolvency. What is cut will be determined at a later time through the normal spending process. The goal is to set a parameter that Congress must fit its spending agenda within, rather than identifying specific cuts now.”
The COVID spending spree currently has America in more than $30 trillion dollars in debt —an historic high.
(Excerpt) Read more at hannity.com ...
I really don’t give a dam about any “balanced budget” plan that does not include radical spending and entitlement reductions. Otherwise, a “balanced budget” will impose higher taxes to “balance” the budget at current outrageous spending levels.
He is correct. However the Democrats would be opposed. Just like the Plan that GWB proposed to take care of Social Security. The Democrats wanted nothing to do with it.
Americans are missing something. The budget is not something that stares them IN THE FACE. Get it? The cost of gas is just that and global warming is not enough to sweep the issue under the rug. Gas prices are manageable to the left who can distract us with the latest school shooting. Will the GOP congress pay the political price of the chicken game of a government shutdown? Maybe we’ll be more brave next January.
Eliminate the federal income tax and just put in a 15% sales tax.
“...he says we can’t ignore the problem any longer....”
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Oh yeah we can. Japan has ignored it longer than we have. I like Rand Paul, but the typical American citizen loves balanced-budgets almost as much as they love colonoscopies.
The debt doesn’t matter, we won’t have a country because we are being overrun by illegal aliens.
Add a 10% across the board import tariff to the scheme and I am all in.
Well, I don’t know nuthin about how to slash a budget properly but I say cut the U.N. off and save us some bucks.
Yeah. No.
It’s a nice thought, but entitlement programs will continue to grow exponentially.
How about, no F’in way. I’ve paid my income tax, and now you want to come at me when I spend what little I have? I’ll pass on your double-taxation plan.
The Constitution gives the FG an ability to tax income. Let’s keep the greedy bastards to just that. If we were smart, we’d make it clear that capital gains aren’t “income”.
No. Sales taxes are regressive taxes.
I would rather see a fixed, univeral, flat, one rate income tax with no exemptions, deductions, exclusions or credits - just a flat tax everyone pays with no exceptions.
That would be the broadest possible tax and it would eliminate the tax code screwing around with tax rewards and punishments around the economy. Taxes would be fair and sure and financial decisions would be made by what is the best natural financial reasons, not because some action would obtain lesser or greater tax. I would like to see it at no more than 10%, excluding the social security & medicare payroll taxes. They add about another 15%.
Restore President Trump to his rightful office and sit back and see how fast things fall into line.
Added and abetted by Methodist and Catholic "charities"
I am good with that as well.
15 across the board on income.
It does protect retirees.
Lets just get rid of the IRS code. It isn’t right.
Just freezing spending seems more likely to happen compared to slashing the budget. Plus good luck getting either party to cut back on Military Spending and Welfare...how do you expect them to buy votes?
$30,000,000,000,000 in debt is the greatest proof of a uniparty anyone needs. The democrats didn’t do it, the republicans didn’t do it either, the parties did it together.
The IRS ought to bill everyone $95,000, and double that if you work for the feds. Triple it if you are a member of congress or senate.
Start there, won’t raise a dime but it might provoke some action on the campaign trails.
What a kill joy.
The line from Braveheart applies to us as a nation:
https://www.youtube.com/watch?v=lwx2ce_AyOE
Gallows humor.
They could start with repealing the budget act of ‘72 or something like that which gave us the eternal 8% minimum increase and spend it or lose it that allows claims of reducing budgets while still increasing them.
Insanity.
I just wrote a letter to the editor suggesting the whining county tighten their belt just like we citizens have to. I’m sure it will either not be published or be met with rebuke and scorn or just ignored.
“I really don’t give a dam about any “balanced budget” plan that does not include radical spending and entitlement reductions.”
Agree, far too much money is spent on Social Security. Time to CUT THE BENEFITS!
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