Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Here is how I think Kerry should start on the deficit.

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
 
searchingforlight Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-25-04 01:14 PM
Original message
Here is how I think Kerry should start on the deficit.
Call on everyone who made a campaign contribution to any party to make a like contribution to reduction of the deficit. This would be huge in dollars and good press for the Democrats. It would be a call to service to all of America to help us recover from this horrific four years.

I would do it and I have talked to several others who said they would. Maybe Republicans wouldn't but then we can claim the high road and emphasize their continued self-interest over the good of the whole.
Printer Friendly | Permalink |  | Top
NAO Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-25-04 01:24 PM
Response to Original message
1. Kerry could increase revenues without raising taxes on anyone
All he has to do is fund and empower the IRS, the SEC, the FTC, and the EPA. These agencies have been significantly weakened and compromised by Bush, and the result is wealthy people and corporations are cheating and buying their way out of paying their fair share.

Partisan Republican shills attacking Kerry and honest swing voters often ask, "Where is Kerry going to get the money for his programs? If he is only going to raise taxes on those making over $200K/yr., that will not increase revenue enough to fund his proposals." Even factcheck.org has raised this concern.

I do not have any inside line into Kerry's plans, but I can speculate and come up with a few ways he could dramatically increase federal revenues while keeping his promise not to raise taxes of people making less than $200K/yr.

The two ways I can think of are collection of current tax receivables (Bush has been very negligent here) and changes in corporate tax code (nothing in the promise about not raising taxes on corporations, only about not raising taxes on PEOPLE earning less than $200K.)

The first tactic, ENFORCEMENT and COLLECTION of the current tax receivables is a no brainier because Bush has been deliberately dropping the ball and covering it up on this one. Bush has gutted and severely constrained the IRS. By under funding the agency, he has sharply limited their ability to perform audits. They are short on manpower, computer equipment, funding, and resources in general.

The result of this dis-empowering of the IRS is that they cannot investigate cases of massive personal and corporate tax fraud. When they do perform audits, they are forced to go after low-income tax payers who cannot afford accountants and attorneys to fight the audits. This fact alone is a tragic injustice. They are auditing only people who are too poor to contest the audits, because they do not have the resources to respond to a rich person trying to buy their way out of paying their fair share of taxes! Low-income taxpayers are not typically the ones who cheat and underpay taxes by large dollar amounts.

By simply investing in a major revamp to the IRS and enabling them to go after wealth tax evaders, the government could collect billions of dollars in additional revenue without raising ANYONE'S taxes. It would simply be a matter of collecting taxes that are owed under the current tax structure but are being avoided or evaded by wealthy taxpayers with slick accountants and tax attorneys.

Further, Bush is also gutting, under funding, and dis-empowering the SEC and the FTC. Again, by simply investing in the infrastructures and empowering these agencies to go after fraud and corruption, much revenue could be captured that our government is currently being cheated out of.

Kerry has already alluded to “closing corporate tax loopholes that reward sending jobs overseas”. This is a very broad statement, but there is much potential for additional revenue here. By closing dozens of other corporate tax loopholes and neutralizing corporate tax avoidance, billions could be collected, again without raising taxes on ANYONE, even those earning over $200K/yr.

Another potential source of revenue is another agency that should be acting for our protection, but has been gutted, under funded, and dis-empowered by the Bush Administration: the EPA. By restoring regulations on polluters back to their pre-2000 status, and aggressively enforcing fines for non-compliance, monies could be collected without raising taxes and our air and water would be cleaner as well.
Printer Friendly | Permalink |  | Top
 
HFishbine Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-25-04 01:28 PM
Response to Original message
2. A drop in the bucket
I think the Kerry campaign is going to finish with about $140 M in contributions. Even if you add all the other 527s and committees that received contributions, there may have been, at best, less than $500M in contributions. The budget deficit is about $420 Billion or about 1,000 times the total contributions.
Printer Friendly | Permalink |  | Top
 
fob Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-25-04 01:37 PM
Response to Reply #2
3. A drop in the budget fiscalwise, a tidal wave in the ideal of true
patriotism.
Printer Friendly | Permalink |  | Top
 
orwell Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-25-04 02:38 PM
Response to Original message
4. It's the Spending
The spending side must be addressed, especially discretionary spending. * has not vetoed one bill in four years. He has allowed every bit of pork and special interest favors to his supporters to pass by his veto pen. Contrast this to BC who was willing to close down the government checkbook on more than one occasion to control excess spending.

There is no doubt that the economic seas are going to get rougher for Kerry after he is elected. He will be faced with sweeping out *'s smelly barn for much of his early presidency. But it has to be done.

He realizes this, which is why he is already curtailing some of his more ambitions spending proposals.

The twin deficits must be addressed. It is morally and fiscally irresponsible not to do so.

Four words: Pay as you go.
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Fri May 03rd 2024, 01:11 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC