YOUR TURN: The Fiscal Cliff — What Deal Would You Cut?
Massachusetts Democrats in Congress want to avoid cuts in benefits as part of any deal, but proposals such as raising the eligibility age for Medicare are still on the table. What would you do?
As Congress negotiates a deal to avoid the so-called "fiscal cliff" on Jan. 1, Massachusetts' congressional representatives have voiced their opposition to any cuts in benefits such as Social Security, Medicare and Medicaid, the Boston Globe reports.
However, there are proposals still on the table that would change those benefit programs, including linking Social Security benefits to a more conservative inflation index that would slightly reduce annual increases, or raising the eligibility age for Medicare from 65 to 67.
The Globe reported that while the Bay State's legislators were united against changes to Social Security, there's some wiggle room on Medicare. Rep. Ed Markey opposes raising the Medicare eligibility age; Rep. Michael Capuano would consider raising the age in trade for higher tax rates on the wealthy; and Rep. Richard Neal would consider raising the eligibility of Medicare by one month a year.
The fiscal cliff is partly a result of a deal struck in August 2011 to raise the debt ceiling. On Jan. 1, the Bush tax cuts would expire, as would extended unemployment benefits and a payroll tax cut. There would also be $1.2 trillion in spending cuts, an automatic reduction if a joint Congressional committee couldn't come up with a list of cuts to present to lawmakers for approval.
Without a deal to avert the fiscal cliff, a White House report says that a Massachusetts family of four, earning $86,000, would see its income taxes rise by $2,200, the Globe reports.
Some pundits have advocated going over the fiscal cliff—not striking a deal, allowing the tax cuts to expire and spending cuts to go into effect on Jan. 1—as a way to strengthen their side in tax negotiations or to rationalize the tax code.
The Tax Policy Center has created a calculator that shows the effect the fiscal cliff would have on different households, and allows comparisons with alternative tax policies presented by both Democrats and Republicans.
What deal would you strike to avoid the fiscal cliff? Which tax cuts would you keep and which would you allow to expire? Would you raise the eligibility age for Medicare? Agree to Social Security changes? Or advocate going over the fiscal cliff? Tell us in the comments.
pk
5:55 am on Saturday, December 1, 2012
Forty percent of world military spending is done by the US. The US currently has 36,000 troops stationed in Japan, 30,000 in Korea, 9,000 stationed in Europe, and many more scattered throughout the world. I guess the troops in Europe are needed just in case the USSR comes back to life overnight and attacks the West. Japan might attack Pearl Harbor again. We could easily cut these numbers in half (I'd be in favor of greater cuts than that) without jeopardizing anything or anyone. When the US withdrew (under protest) from our massive base in the Phillippines in the '90's we saved billions without threatening our security one bit.
Jack Carver
10:48 am on Saturday, December 1, 2012
"The US currently has 36,000 troops stationed in Japan, 30,000 in Korea, 9,000 stationed in Europe, and many more scattered throughout the world. I guess the troops in Europe are needed just in case the USSR comes back to life overnight and attacks the West. Japan might attack Pearl Harbor again."
China has an army of 3,000,000, the US just over 1 million, Want to make a change? Stop buying things made in China for 1 year and see what happens, The US would be Back in Black (instead of Red)
Sean Ward
12:50 pm on Saturday, December 1, 2012
Do you know where North Korea is pk?
MHH101
9:17 am on Saturday, December 1, 2012
The politicians all know what to do, they just don't know how to get re-elected after they have done it.
Can't keep kicking the can down the road and printing money.
A trillion has 12 zeros. To get some idea of what this means, try counting to a trillion.
It will take you 31,700 years.
They have raise taxes and cut spending.
Cut/eliminate spending on everything that doesn't take care of our own and/or return significant benefits.
Hands off social security and medicare, as you and I have been paying for these programs during our entire working life.
Some day (e.g. when we stop buying their crap), China will stop lending us money.
Therefore, we must continue to explore Mars (e.g. maybe the Martians will lend us money).
Ken Hannan
10:19 am on Saturday, December 1, 2012
I agree. Politicians throw out ridiculous statements like increase taxes on the wealthy and save everything else without cuts yet they know clearly that if you taxed the wealthy 100% it wouldn't even put a dent in it. Reform has to start with the government and all the siccophants we elect who are "EXEMPT" not only from the laws they impose on us but all of the programs as well. What household wouldn't decide to just make more money so they could keep 3 cars and 4 vacations? Unfortunately only the government can do that.
Cool Fusion
9:21 am on Saturday, December 1, 2012
What is this thing "Cuts" that you speak of? There is surely a correspondence between an exhausted culture and a populace devolved so far into mental dullness that it can't recognize its own precarious predicament. There will be NO cuts .. the "People" will only tolerate token snips and clips to vastly inflated projected estimates to future budgets. If the E-trade baby could trade off of this political Gongshow.. He would short Tiffany's ... and go long on DollarStore.
Lenny
9:41 am on Saturday, December 1, 2012
Always trading tomorrow for today is the policy that 62 million voters supported last month. I suspect many of them hope the Federal Ponzi scheme built up over the past 45 will outlast them at least by a few months and let the children and grandchildren be damned.
doc holliday
11:43 am on Saturday, December 1, 2012
I'd cut the biggest joke of all-WELFARE.
gene
9:19 am on Sunday, December 2, 2012
Ya let's pick on the poor so we can give billioairres tax breaks. Now that's a plan!
Carl Reppucci
12:25 pm on Saturday, December 1, 2012
Cut what? Even in our own town - just cut wrestling programs and gym rooms to allow the superintendent of schools to have his office there and save the town at least $100,000 but no wait lets have a meals tax and raise our tax rates, that will work.
dennis byron
5:53 pm on Saturday, December 1, 2012
Carl --
But you have described the difference between what your town is doing and what the federal government does. At least your town raises the revenue to pay for the idea -- be it a good idea or a bad idea is up to you in that town. The Feds borrow the money.
Carl Reppucci
9:59 pm on Monday, December 3, 2012
Dennis
Towns don't have money to fund their pensions. They also borrow money and do not spend wisely. And it is not up to us - town puts out a vote on a meals tax created by Deval Patrick that allowed negative votes to be overturned by constantly allowing votes to happen until they win the tax with a 3 year wait to vote it out - how convenient. Then during the vote a hush hush about a tax rate increase.
If you can't stop it locally - not likely to happen at Fed level - that is my point. The democrats like to spend - again - look at funding for a "big bird" - they spend lavishly just like our school systems do, they don't spend like they have to earn the money and spend wisely with that money.
Carl
Carl Reppucci
12:26 pm on Saturday, December 1, 2012
Insurance premiums are through the roof - $2200 in taxes saved will go to fund obamacare, the insurance companies have calculated that in and you are paying.
Sean Ward
12:54 pm on Saturday, December 1, 2012
Cut every single program by 20%.
Bryan McGonigle2
1:14 pm on Saturday, December 1, 2012
Why do we need a Federal Housing Administration, an Energy Department, a Department of the Interior, ...? Are they actually solving any problems or are they just creating more problems reacting to problems they couldn't solve?
Why does the government take money to help me save for my retirement? Because I can't be trusted to save the money myself? And guess what the government doing with my money?
Shazzan Nights
1:23 pm on Saturday, December 1, 2012
I would cut everything even the cheese.
Cool Fusion
1:40 pm on Saturday, December 1, 2012
I would "cut" the allotted time it takes to Arrest, Indict before a Grand Jury, Try in Federal Court, Convict, and Sentence all the corrupt Banksters to about 35 days running .. give or take a few. Starting at the top with Ben Bernanke,Timmaay Geithner, Larry Summers, Bobby Rubin, followed by Citi, Goldman-Sach, JPM, Morgan Stanley, AIG, and Barkclays - in that order and then using the provisions of the Sarbanes-Oxley Act do a crawback of all the swindled assets. But what do I know.. that job assignment was given to the inept Obama administration .. I'm just a poet.
j
4:15 pm on Saturday, December 1, 2012
President Obama has made a proposal. From what i hear, McConnall and other Republicans are laughing at it instead of making a reasonable counter proposal.
Until the Republican party changes its attitude and is truly willing to compromise, a drive off the cliff is the best deal the country will get. Hang on tight!
Cool Fusion
5:20 pm on Saturday, December 1, 2012
What's the inverse of bathsalts? "From what I hear" .. is probably wrong. This episode is embedded in the "Dark Information" fog cloud where these 60 proof drool negotiations are conducted in secret by unknown staffers aided by out of sight lobbyists. This untypical, unamerican legislation conduct has been going on for 6 years and we are all well aware of the $multi-trillion dollar dead cat bounce results. These meetings should be executed in real-time public view with advance notice and full disclosure. C-Span cameras should be rolling and concluding summary meeting minutes published on-line and second page of every print-media outlet. There will always be an America.. it just may not be in the United States.
Steve Marino
12:38 am on Sunday, December 2, 2012
J, how is it that nothing that the republicans propose is even considered by Obama and the democrats? It's their way or the highway!
And then we have people like you saying that the republicans must compromise.
It's been this way for 4 years, do you really expect the republicans to just go along with bad ideas that will hurt us all and bankrupt our nation? Or maybe it's about time that they try to compromise for the good of the country, instead of blaming republicans.
Our president needs to grow up and put on big boy pants!
Steve Marino
5:57 pm on Saturday, December 1, 2012
Cut the pay of all members of congress that voted for spending measures that got us to this 16.3 trillion dollar dept by the same percent. Do this retroactive going back 10 years.This will get rid of the people that caused the problem, because they will be paying the federal government to keep their job. This will cause them personal bankruptcy instead of us!
Steve Marino
6:24 pm on Saturday, December 1, 2012
How about passing into law that all voters must pass a 3 question quiz by answering all three questions correctly?
1) where does the federal government's money come from?
2) how much money would it take for each family in America to pay off the U.S. dept?
3) how does raising taxes help a failing economy with high unemployment?
This would be a good start!
Lenny
11:28 am on Sunday, December 2, 2012
Steve, I think at least half the Obama voters would need to be asked the questions orally. Still can't believe 62 million citizens voted to run our economy into the ground and take the country with it.
john
6:58 pm on Saturday, December 1, 2012
None of us will ever know everything that goes on in DC,that's why we elect people to represent us. Those people owe it to use to find a common ground to avoid the fiscal cliff. All of this back and forth is a big game that will get worked out before the end of the year. Before the election the all say they won't raise tax on the middle class,after the election it's simply a question of how much. Shrink the size of government.
J.Yuma
9:55 am on Sunday, December 2, 2012
The Democrats love the poor,...really?, not to get off topic, but those wonderful Mass. Dems raised fares on the Ride 100%, the most vulnerable members of society- elderly and disabled and no one bat an eye. There was no where else to make cuts in the budget those "courageous" pols could have made?
Liberals are such hypocrites and phonies.
Obama will say "let's get the rich!",...well he and his pals like Soros ARE the rich!
Wake up people!
Lenny
11:33 am on Sunday, December 2, 2012
Yes John, you are spot on, and now the governor is starting the talk about raising payroll taxes. But like Warren, he is another fraud who refuses to check the box on his Ma tax return o pay the hire tax rate, yet he wants everyone else to pay higher taxes. Of course we know what box both Patrick and Warren are prepared to check off...the one that gives them an advantage over others.
doc holliday
11:17 am on Sunday, December 2, 2012
Gene-you spelled billionaires wrong.
J.Yuma
11:51 am on Sunday, December 2, 2012
Lenny, Kerry put his yacht in R.I. to save 50g's in fees,...but the voters elect Warren, who is Kerry lite,...idiots. Patrick made sure people can still draw cash from an ATM with their EBT card,...know why?,...who do you think is going to fund Patrick's casinos?
What hypocrisy.
Lenny
12:38 pm on Sunday, December 2, 2012
Yes, gambling is the ultimate hypocrisy. Check out lottery sales. Chelsea, Lynn, Brockton, Fitchburg are where the big money is spent. Then look at Wellesley, Brookline, Weston, etc....minimal sales. They say they worry about the poor, but lotteries and EBT cards will never raise people out of poverty like a job will, yet the governor wants to hurt employment with an increase in the payroll tax. Well voters in this state voted both locally and federally for this foolishness and they will get what they deserve. The sad part is that those of us who voted responsibly will be dragged down with them.....but not as fast.
J.Yuma
7:02 pm on Sunday, December 2, 2012
Truth is a liberals kryptonite. They raise fees on the elderly and disabled and then give tuition breaks to illegals. People deserve the government they get, but if I was them, I'd learn how to pray real quick.
Sean Ward
10:25 pm on Sunday, December 2, 2012
All members of congress, the senate, supreme court, the president and the cabinet should take $1 pay until the deficit is erased. A small business owner would have to do the same if they ran a company this way.
Bryan McGonigle2
9:30 am on Monday, December 3, 2012
Data from Pennsylvania - "the single mom is better off earnings gross income of $29,000 with $57,327 in net income & benefits than to earn gross income of $69,000 with net income and benefits of $57,045."
As income rises from $29k to 69k, a low income person starts losing out on all kinds of government benefits. So its better to make $29k or more than $69k. Make anything in between would be foolish.
http://www.zerohedge.com/news/2012-11-27/when-work-punished-tragedy-americas-welfare-state
Carl Reppucci
10:08 pm on Monday, December 3, 2012
Look at the Federal Poverty Levels - that even a single person making $33000 is considered 300% above poverty level but take someone single out of college with $100000 in debt, give him/her a $60000 job and with loans, apt rent, car - they are now in poverty. Good luck! How much in taxes? If you don't control the towns and the state - remember they get federal money - your tax dollar - then cut wasteful spending locally. I just want to see, once a, winning repeal of the CPA tax, winning repeal of the meals tax - send a message locally.
Carl