[denydenydeny]

Me like.

[RIghtwardHo]

NOTHING good comes from those “gangs”.

[qam1]

Soory not impressed. Any plan that’s over 10 years instead of cutting now is pure BS.

[EGPWS]

“We can increase revenues by adjusting the tax code and lowering it,”

Isn't that code for tax increases?

[ImpBill]

"but it’s only “common sense” if the cuts come as part of a redefinition of the use and extent of American military power around the globe. We can’t fight three wars and expect to literally decimate defense spending over the next decade, and we probably can’t afford our heavy investment in Europe, either."

Let's get them home NOW! And start those savings.

[Principled]

a flat tax or nat retail sales tax would do it - lower all marginal rates, increase the number of payers, and get the economy moving in the right direction.

i said it on another thread today - i think oZero is tanking us on purpose. He won’t agree to anything that will help. He’ll only push things that make it worse.

[Lazlo in PA]

Coburn is a real POS lately. Derides the Tea Party and constituents to defend Nancy Pelosi as a “Nice Person”. Joins these “Gang for Concessions to Rats” groups and now wants $1 Trillion in tax increases.

Blow it out your ear Coburn. You are totally untrustworthy anymore.

[maggief]

Don’t trust him. Period.

[PieterCasparzen]

Enough of this garbage.

Get rid of departments that are useless. I’ve posted over $1 trillion in eliminations and reductions - which could take effect in 2012.

Talk of revaming the tax code, changing taxes, replacing taxes with other taxes, etc.

IS A 3-CARD MONTE GAME.

There are sensible mechanisms like Depreciation which actually make sense. If Congress is allowed to start messing with the tax code, nothing good will come of it. Depreciation is a good example - getting rid of those schedules for deductions or messing with them could potentially hammer companies who sell capital goods, and articially increase taxable profits of most corporations - who would pay the bill by getting a huge whammy of a loss when they retire capital goods that are recorded as a 100% expense in their final year of service. What an idiotic idea that does not reflect reality. Expenses must be accrued as they happen, and Depreciation is designed to do that as closely as possible to reality.

I shudder to think of what Congress-critters will come up with when overhauling Taxes.

INSTEAD, why not start hacking these things out of spending - NEXT YEAR, RIGHT AWAY (THESE FIGURES ARE FOR 1 YEAR !):

Proposed spending cuts in 2011 spending levels, in Billions, without touching Social Security, Medicare or Defense:
_________________________________________________________________________

Education__________________ $129.8 billion
Transportation (I propose
a limit of $10 billion)_________ $84.5 billion
Basic research______________ $18.7 billion
Agriculture, forestry
, fishing and hunting _________ $32.8 billion
Fuel and energy_____________ $26.9 billion
Pollution abatement_________ $10.9 billion
Protection of biodiversity
and landscape_______________ $13.9 billion
Housing development_______ $35.5 billion
Community development_____ $25.7 billion
Recreational and
sporting services_____________ $4.1 billion
General Government
(I propose cutting the
current amount in half)_______ $16.6 billion
Welfare (eliminate)_________ $495.0 billion
Grants to States
for Medicaid________________ $276.2 billion
R & D Health
(includes NIH)______________ $36.1 billion

Total reduction to annual
spending_________________ $1,206.7 billion