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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Ron who wrote (161188)	4/13/2011 7:26:20 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 541927

Jan Schakowsky... 45% tax on millionaires, 49% on billionaires. Da new Write-in of the Day...Sanders/Schakowsky still looking to make the ticket...Debbie Wasserman-Schultz House progressives to release liberal alternative to Ryan budget plan . Breakdown of Policies Individual income tax policies 1. Extend marriage relief, credits, and incentives for children, families, and education, but let the upper-income tax cuts expire and let tax brackets revert to Clinton-era rates 2. Index the AMT for inflation for a decade (AMT patch paid for) 3. Rescind the upper-income tax cuts in the tax deal 4. Schakowsky millionaire tax rates proposal (adding 45%, 46%, and 47% top rates) 5. Progressive estate tax (Sanders estate tax, repeal of Kyl-Lincoln) 6. Tax capital gains and qualified dividends as ordinary income Corporate tax reform 1. Tax U.S. corporate foreign income as it is earned 2. Eliminate corporate welfare for oil, gas, and coal companies 3. Enact a financial crisis responsibility fee 4. Financial speculation tax (derivatives, foreign exchange) Health care 1. Enact a public option 2. Negotiate Rx payments with pharmaceutical companies 3. CMS program integrity and other Medicare and Medicaid savings in the president’s budget. 4. Prevent a cut in Medicare physician payments for a decade (maintain doc fix) Social Security 1. Raise the taxable maximum on the employee side to 90% of earnings and eliminate the taxable maximum on the employer side 2. Increase benefits based on higher contributions on the employee side Defense savings 1. End overseas contingency operations emergency supplementals starting in 2013, providing $170 billion in FY2012 funding for withdrawal 2. Reduce baseline Defense spending by reducing strategic capabilities, conventional forces, procurement, and R&D programs Nondefense investment 1. Invest $1.45 trillion in job creation, education, clean energy and broadband infrastructure, housing, and R&D 2. Infrastructure bank 3. Surface transportation reauthorization bill [1] Note: Not patching the AMT would save $661 billion over ten years. Not maintaining the doc fix would cost $249 billion over ten years. The savings you would see from pursuing these policies would amount to just over $900 billion over ten years, but would engage in a form of budget gimmickry that we may see from someone like Paul Ryan, and should be avoided if possible. sfexaminer.com