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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (128341)	12/3/2012 7:03:49 PM
From: RetiredNow	Respond to of 149317

The tax hikes Obama is considering is a serious discussion and I actually have seen some estimates that it will raise tax revenue by closer to $200B per year, which to me is significant. So kudos to Obama for that. What is also serious is raising revenue from Payroll Taxes for SS. In 2012, that SS deficit is expected to be $60B. So if they can close that, then that's another significant discussion. But let's put this in perspective and why everyone says that neither of these discussions really addresses the big stuff. Those two above only addresses $260B per year of a $1,200B deficit. So where is the other $940B per year in reductions going to come from? I'd like to see a good chunk of that come from military cuts and from closing corporate loopholes. Maybe we should get rid of tax credits and deductions as well to capture the rest.