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A Budget Blueprint
Posted by Randy | March 22, 2012

The President's FY13 budget request calls for more spending. Leaders in the Senate have refused to pass a budget for over 1,000 days. This type of budgeting is irresponsible and we are seeing the consequences in the fiscal health of our nation. America needs a new direction when it comes to our federal budget.

This week, House Budget Committee Chairman Paul Ryan released a budget blueprint for America. I want to make sure you have access to this budget proposal, so you can read it and analyze it and make an informed decision.




Read Full Report

Key Facts & Summary

A Contrast in Visions

The budget passed Committee this week and is expected to be voted on by the full House of Representatives next week.

I want to know what you think about this proposal - do you believe that this is the type of budget proposal that we need to move forward in America?

Comments
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  • Thomas G commented on 3/22/2012
    This GOP blueprint is woefully inadequate. A fascinating analysis of this was exposed on MSNBC's Morning Joe program earlier in the week. The astonishing result is worthy of everyone's review. Turns out, this proposal as written would increase, yes, increase the debt by 600 Billion dollars!!! There is no credibility in this ridiculous proposal.
  • Lindsay Alkac commented on 3/23/2012
    This proposed budget by Mr. Ryan is horrible. He wants to cut off 48 million Americans from healthcare but give tax breaks to the wealthy. It is absurd and I truly hope you do not vote for this plan as most of your constituents would not benefit from this, but be harmed. I'm not quite sure why there is such turmoil over where to get the money from. If the extremely wealthy and big businesses were taxed a slight bit more and the loopholes for filing their taxes were taken away we most likely would not have to cut Medicaid, Medicare, and Social Security so much. From what I have read on the Internet though, it seems unlikely for this to happen since the wealthy and big business have most of our politicians in their pocket (ie: Super PACS). Can't accept 100 thousand dollars from someone then turn around and raise their taxes can you?
  • Steve Hogg commented on 3/23/2012
    Ryan's plan is woefully inadequate. I believe that it doesn't balance until 2040. I think we need to start with Rand Paul's plan and work from there. 5 years vs. 30 years. How much time can we really keep up the status quo?
  • Ronnie G commented on 3/24/2012
    In typical Forbes fashion, you attempt to toe the party line while our nation suffers. The "Ryan Plan" doesn't come close to providing the remedies necessary to overcome the fiscally unsustainable path that you and your counterparts have created for the country. You have been marginally successful in delaying the inevitable. The debt that you have helped to create cannot possibly be repaid during most of our lifetimes. Repayment of the debt was never your intention, was it Randy? Your only concern is to keep your job, where you enjoy the benefits of government health care and government pension. While elements of the "Ryan Plan", mainly those culled from the Simpson-Bowles report, will have some impact, the ridiculous tax portion of the proposal is actually counterproductive. Raising taxes is never popular. Since keeping your job requires you to win a popularity contest, it is a small wonder that the cure for every ailment from the Republicans is tax cuts. How has that worked out for us? Take a close look at the deficit and debt since 1980. What do you see? Both were dramatically increased during republican administrations. The numbers don't lie. Democrats are just as guilty. They seem to believe themselves to be some sort of "Robin Hood" - take from the rich and give to the poor. There are those among us who actually NEED help, and then there are those who are simply too lazy to work. The Democrat party makes no distinction, nor do they wish to. They use these government handouts to buy votes and remain in office, so that they may continue to enjoy the same benefits that you do. A tax deduction is nothing more than a loophole. This applies to individual and corporate taxes equally. Congressional votes are bought and sold on a regular basis. Don't believe it? A recent study showed that for every dollar that a company spent on lobbyists, they gained an additional $258 in tax benefits. What an investment! We hear a great deal about corporate tax rates. What we do not hear is the fact that none of them pay anything close to the statutory rate due to the deductions (loopholes) that they have obtained from members of congress in exchange for campaign contributions. A major drug company pays an effective tax rate of 5%. Who wouldn't be happy with that deal? We can make this work, but if, and only if, all deductions (loopholes) are eliminated. I have no problem with my mortgage interest deduction being eliminated if my effective tax rate is lowered (by the way, my effective rate is higher than Mitt Romney's even with the deduction). We all benefit from this approach. Set corporate rates at a given level without the sweetheart deals and let the free market work. Individual rates will require more than 2 rates to retain the progressivity necessary to begin paying for the sins of the past. Dividends and capital gains must be treated as ordinary income. There are a host of other changes that I simply do have the space or time to comment on in this format. Please feel free to contact me at your convenience (you have my contact information) to discuss additional details if you have the intestianal fortitude to do what is right for the country and not just for your party for a change.
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