Share this on:
 E-mail
152
VIEWS
4
COMMENTS
 
SHARES
About this iReport
  • Approved for CNN

  • Click to view comojeff's profile
    Posted November 28, 2012 by
    comojeff
    Location
    Columbia, Missouri
    Assignment
    Assignment
    This iReport is part of an assignment:
    The fiscal cliff: Messages to Washington

    Cut Spending and Raise Taxes

     

    CNN PRODUCER NOTE     comojeff says he believes an agreement will be reached on the fiscal cliff by President Obama and Congress before the December 31 deadline. He says this will happen because politicians have learned of the dangers of failing to take action. But he believes the agreement might be more of a temporary patch to a longer running problem. 'I honestly have no idea what impact [taxes] will have directly on me and my family,' he said. 'I am more worried about what will happen to our nation and my kids' futures if we do not raise taxes and make real cuts to spending.' He says his financial advice to Congress is to not default on the nation's obligations. He says the best financial advice he has learned as an adult is to do more than just work. 'Plan for your future. Invest in your future,' he said.
    - Jareen, CNN iReport producer

    We as a nation must cut spending AND raise income. Cutting spending means we reduce the amount of money government Departments spend. Raising income means raising taxes. Taxes ARE the income of our nation. This process is ALWAYS a partisan experiment in frustration. Everyone claims they want to cut cost but not in their backyard. This has to stop NOW! Shared sacrifice is the only way we will overcome this burden. What does that look like?

    Spending should immediately be cut across the board, nothing exempt not even off the book items. There is no negotiations, EVERY budget item is cut the same. I like a 20% cut across the board. If these changes are made to the Presidents proposed budget we would save 229 billion 400 million dollars. That is a big cut but EVERY department has 15-20% fraud, waste and abuse in it, every single department. So there is a starting cut in the budget. If someone cares to argue about a $100 Million program do it after these cuts.

    Increasing income is just as simple. Do away with EVERY SINGLE deduction that exist. Set the tax rate the same for EVERYONE on EVERY form of income. I like a 25% tax rate for everyone. It does not matter if you are a fry cook or a Wall Street speculator. This will increase revenues and be equitable for EVERYONE. You make $100 Million you pay 25%, $25 Million. You make $10,000 you pay 25%, $2,500. The percentage of increase or decrease to any group does not matter. Everyone pays the same equitable amount. The exact same thing goes for corporations. Set a tax rate, remove all deductions and pay your share. The only possible deduction I can imagine would be based on direct investment that has a direct positive impact on employment. It would not be a 100% deduction.

    These are common sense, equitable, non-partisan changes that will get the ball rolling in the right direction. Bicker over the small budget items, the welfare programs, farm subsidies, oil and gas subsidies, renewable energy development and on and on after making a difference. We must take decisive action to let our citizens and the entire world know that we are not on the brink of failure as a nation.
    • TAGS:

    • GROUPS:

    What do you think of this story?

    Select one of the options below. Your feedback will help tell CNN producers what to do with this iReport. If you'd like, you can explain your choice in the comments below.
    Be and editor! Choose an option below:
      Awesome! Put this on TV! Almost! Needs work. This submission violates iReport's community guidelines.

    Comments

    Log in to comment

    iReport welcomes a lively discussion, so comments on iReports are not pre-screened before they post. See the iReport community guidelines for details about content that is not welcome on iReport.

    Add your Story Add your Story