Coburn proposes $9 trillion deficit cut measure

[GannonFan]

Certainly one of the drawbacks of a high corporate tax rate - profits get shuttled to lower tax rate regions and the tax revenue goes un collected.

fixed for accuracy

I'd rather get a smaller piece of the pie than none at all. It's foolish to pretend the rest of the world doesn't exist and that there aren't other options out there for which to invest and park profits. Choosing not to compete is one of the fastest ways there is to lose.

[BDKJMU]

Raise SS age - check
cut farm subsidies - check
cut medicare - check
cut student aid - check
cut housing subsidies - check
cut community development grants - check
redesign veteran's benefits - check
close tax loopholes - check
mortgage deduction limitation - check

Now, if he'd add in returning all departments to 2006 spending levels and eliminating HLS, Education, EPA and a host of others, we could accelerate that decade to about 4 years.

I've said all along I'm fine with tax changes if they were in conjunction with REAL cuts. My fear is that congress won't "save" that money, they'll just find some OTHER porkbarrel project to spend it all on and 10 years from now we'll be left with higher taxes AND a $15 trillion deficit.

Absolutely. Congress never met a surplus it couldn't figure out a way to spend.

it is just legalized vote buying.

This. Wasn't it Reagan who signed onto a tax increase that Congress promised would be 3 dollars in spending cuts for every 1 dollar in tax increases? What we ending up with was tax increases and spending increases.

Coburns plan could pass with 1 trillion in tax increases and 8 trillion in tax cuts, but we would never remotely come close to getting the 8 trillion in spending decreases, if we got them at all, because of the spending whores in Congress.

The ONLY way there should tax increases is an agree for them to kick in once a Balanced Budget Amendment is passed by Congress, signed by the President, and ratified by 3/4 of the states, with the only exception to not having a balanced budget be in time of war limited to when Congress passes a declaration of war.

With the govt currently spending $1 for every 60 cents it takes in the national debt and interest on it will never be paid down significantly without a Balanced Budget Amendment.

[Ivytalk]

Even liberal columnist Margaret Carlson had something good to say about Tom Coburn this week. I wish the Senate had 100 of him.

[native]

Do it. Let's just get it over with so we can all be friends again.