Do you support the People's Budget?

[ProSense]

The People's Budget.

Key proposals:

Individual Income Tax Policies

• Allow the Bush-era tax cuts to expire at the end of 2012, but extend marriage relief, credits, and
  incentives for children, families, and education
  
• Immediately rescind the upper-income tax cuts in December’s tax deal
  
• Index the AMT for inflation for a decade (the AMT patch is fully paid for)
  
• Schakowsky millionaire tax rates proposal (adding 45%, 46%, 47%, 48%, and 49% top rates)
  
• Tax all capital gains and qualified dividends as ordinary income
  
• Progressive estate tax (Sanders’ estate tax, repeal of Kyl-Lincoln)
  
• Limit the rate at which itemized deductions can reduce tax liability to 28%for high earners
  
• Replace the tax exclusion for interest on state and local bonds with a subsidy for the issuer

Corporate Tax Reform

• Tax U.S. corporate foreign income as it is earned
  
• Eliminate corporate welfare for oil, gas, and coal companies
  
• Enact a financial crisis responsibility fee
  
• Financial speculation tax (derivatives, foreign exchange)
  
• Reinstate Superfund taxes

Health Care

• Enact a public option
  
• Negotiate Rx payments with pharmaceutical companies
  
• CMS program integrity and other Medicare and Medicaid savings in the president’s budget
  
• Prevent a cut in Medicare physician payments for a decade (maintain doc fix)

Social Security

• Raise the taxable maximum on the employee side to 90% of earnings and eliminate the taxable
  maximum on the employer side
  
• Increase benefits based on higher contributions on the employee side

Defense Savings

• End overseas contingency operations emergency supplementals starting in Fiscal Year 2013,
  providing $170 billion in FY2012 to fund redeployment, while saving more than $1.8 trillion
  from current law spending levels over ten years.
  
• Reduce baseline defense spending by reducing strategic capabilities, conventional forces,
  procurement, and R&D programs

Comprehensive Jobs Program

• Invest $1.45 trillion in job creation, education, clean energy and broadband infrastructure,
  housing, and R&D
  
• Infrastructure bank
  
• Surface transportation reauthorization bill ($213 billion)

[mmonk]

1. Yes but didn't you ask this in the other thread?

[ProSense]

2. I asked

about Social Security, but got a request to present other proposals.

[mmonk]

3. Ok. Fine by me.

May as well lay out all the points of this budget proposal.

[NYC_SKP]

4. Representative Grijalva (AZ 7th) has put together an impressive proposal here.

:patriot:

Home: http://grijalva.house.gov/

Positions: http://grijalva.house.gov/index.cfm?sectionid=4§iontree=4

Peoples' Budget: http://cpc.grijalva.house.gov/index.cfm?sectionid=70

I voted for the full package.

[ProSense]

5. It is impressive. It also

has some things in common with the President's budget: Now it's up to Congress to turn the President's vision into a reality.

Too bad the Speaker of the House is Boehner, not Pelosi.

[msongs]

7. if Obama is not advocating this budget it is NOT "the president's vision" o be turned into reality n

[ProSense]

8. You misunderstood

The President is not advocating the People's Budget. The President introduced his own budget. Congress has to vote on it. Congress, as it typically does, will amend the President's budget before passing it. That's up to Congress. That is what is meant by turning the President's vision into reality.

[MineralMan]

6. What's not to like?

I'd add the closing of all overseas military bases that do not have a pressing defensive function. Where countries have their own functioning and well-established military forces, we have no reason to have bases.

I'd start with Germany and Japan and then add others. I can see no reason for military bases anywhere in Europe, to be quite frank.