billbays.com
  • Home
  • Blog
  • Video Archives
  • Contact

Big Numbers are Down

11/26/2012

0 Comments

 
What a show !  Sen.Bob Corker, from here in Tennessee, has made the media rounds today,advertising his plan for a fiscal fix. Not all of his proposals are necessarily unworkable, but may well be unachievable, given the current climate in D.C. Apparently, Corker wants to move away from the 250K threshold the Administration demands on tax hike relief up to a higher number. So does Buffett, 500K, but the real meaningful numbers for tax revenue are down.

Corker says he is free from the Tax Reform pledge he signed, now that he has been re-elected to a new term. Mr. Norquist says the pledge is good for the duration of his time in Congress.

Corker wants  to cap the deductions at 50K. Probably no serious numbers coming from that change. Does this mean no deduction reform? Tax rates are near historic lows, but Corker don’t want to mess with them. He wants Medicare reform, but keep in place fee for service. That works, if men were angels, but we know better. He wants means testing for Social Security, but that changes the original meaning of the program.

I have a simpler answer; a more sustainable answer; and a boon for the country, but extremely painful for politicians. It is also relevant for the current impasse. But, it would be nothing short of voluntary retirement for many in Congress. It would be like putting the country ahead of yourself. The Republicans would have to abandon “trickle-down” economics or what they call supply-side. A failure of gigantic proportions, that has distorted most everything, economically speaking.  Democrats especially, and Republicans alike, would have to abandon the “welfare-state concept”, which provides largess for the many, and the loud, and also the wealthy. It is the road to ruin.



0 Comments



Leave a Reply.

    Author

    Bill Bays

    Archives

    April 2016
    August 2015
    June 2015
    April 2015
    February 2015
    January 2015
    December 2014
    November 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    August 2010
    July 2010
    June 2010
    May 2010
    April 2010
    March 2010
    February 2010
    January 2010
    December 2009
    November 2009
    October 2009
    September 2009
    August 2009
    July 2009
    June 2009
    May 2009
    April 2009
    March 2009
    February 2009
    January 2009
    December 2008
    November 2008
    October 2008
    September 2008
    August 2008
    July 2008
    June 2008

    Categories

    All

    RSS Feed

Website by Creative Cat
  • Home
  • Blog
  • Video Archives
  • Contact