Paul Kedrosky's Infectious Greed
Finance & The Money Culture
Play along with the U.S. budget super-committee using this new Pew tool:
<a href=”http://www.pewtrusts.org/our_work_report_detail.aspx?id=85899366327″ _mce_href=”http://www.pewtrusts.org/our_work_report_detail.aspx?id=85899366327″><img src=”http://debtsim.pewtrusts.org/uploadedImages/Flash_Library/PCT/Interactives/Budget_Challenge/Assets/pew-teaser.jpg” _mce_src=”http://debtsim.pewtrusts.org/uploadedImages/Flash_Library/PCT/Interactives/Budget_Challenge/Assets/pew-teaser.jpg” style=”border-width:0;border-style:none;width:300px;height:250px” _mce_style=”border-width: 0; border-style: none; width: 300px; height: 250px;” /></a>
Well, there numbes are not all encompassing. For example, expenditure on education might seem like a cost in the short term, but when it produces a strong future generation, it would likely be seen as a tremendous investment.
I say invest in future.
Doing this was pretty easy. Basically you just have to cut defense by 1% a year, increase the top rate by 1%, let the Bush Tax cuts expire and bring the troops home. Also, it helps to save money for the federal gov't to add the Public Option. Who would have thought that?
I cut the budget in a more conservative approach. I cut the growth rate of the pentagon to just 1% a year, indexed health care to the inflation rate, got state and local employees to pay into social security, cut subsidies to energy companies and farmers, made businesses pay for commerce department marketing, made food companies pay to have the food they sell inspected, brought 45,000 troops home (not all of them), and a few other things, and it was pretty easy. And I left the Bush tax cuts in place and still got $9 trillion in savings.
So you and I are both coming at this from different perspectives, but both got monstrous savings.
You'd think that if we could do that, the only reason it's hard in Washington is because Congressmen (and women) have one goal: please the lobbyists and donors so there is plenty of money in the bank to get reelected.
I was shocked how easy it was to get huge savings.
Oaktree's Howard Marks on taxes – http://bit.ly/vIuP95
Paul Kedrosky‘s Infectious Greed
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