Here's How Democrats Want To Reduce Deficits By More Than $1 Trillion {progressive caucus}

[xchrom]

http://www.businessinsider.com/democrats-spending-budget-2013-2



End subsidies to fossil fuel companies

This proposal would save $94 billion by ending subsidies, financial assistance and preferential tax treatment for oil, gas and coal producers. According to the Progressive Caucus budget, this policy is based on the argument that "the fossil fuel industries are among the most profitable on earth" and yet some pay zero federal income taxes.

Shutdown expensive and often unpopular loopholes

The Progressive Caucus targets five loopholes in particular, which it claims could bring in $278 billion over 10 years.

***SNIP

Cap deductions and exclusions at 28 percent
Because itemized deductions reduce taxes for a person based on their income tax rate, people in higher income tax brackets can save more than twice as much for the same writeoff as a person with lower income can.

[uponit7771]

1. +1, Every progressive society that worked most efficiently has had those at the top pay more...

...there's a difference between what's right and whats fair

[newfie11]

2. Of course this makes to much sense for the repugs to pass

AND they won't get their payoff if this goes through.

[Scuba]

3. Per Business Insider: "the plan has literally no chance of passage in Congress" ....

... this, despite it being easily the best plan anyone has proposed.

Tells you the game is rigged.

Here's the pdf from Ellison and Grijalva ...

http://www.washingtonpost.com/r/2010-2019/WashingtonPost/2013/02/05/Editorial-Opinion/Graphics/Balancing%20Act%20-%20Executive%20Summary.pdf

[Scuba]

4. Kick