- Messages
- 142
- Reactions
- 41
I posted this a while ago on another forum and we had some fun with it. So here's your chance to balance the budget. It also shows how much and where our tax money goes. Just keep in mind that a few things may have already been passed. One last thing, the program won't allow you to cut social security from the budget because you'd have to eliminate the payroll tax which is a huge amount of revenue. Also, your adjustments to SS only has to equal 100% to balance it.
Here's the link to the worksheet. Have fun. It's not very long and there's no ads.
Here's my results:
I ended up with a $41B deficit. Here's my cuts:
Defense in half, entirely cut iraq/afghanistan, TSA in half.
Tax rate increases: $200k-$500k +5%, $500k-$1m +10%, over $1m +20% (If I could have lowered the rate for everyone else I would have)
Corporate earnings tax increase +10%
Banks pay "crisis insurance"
No carbon, alcohol, soda, fed tax
Increased estate tax
For Social Security I raised payroll tax 1% and eliminated the wage cap.
Here's the link to the worksheet. Have fun. It's not very long and there's no ads.
Here's my results:
I ended up with a $41B deficit. Here's my cuts:
Defense in half, entirely cut iraq/afghanistan, TSA in half.
Tax rate increases: $200k-$500k +5%, $500k-$1m +10%, over $1m +20% (If I could have lowered the rate for everyone else I would have)
Corporate earnings tax increase +10%
Banks pay "crisis insurance"
No carbon, alcohol, soda, fed tax
Increased estate tax
For Social Security I raised payroll tax 1% and eliminated the wage cap.