| The deficit reduction plan proposed by the Bowles-Simpson commission is not a serious proposal. |
| The current deficit, which has emerged since the balanced budget days of President Clinton, is a result of tax cuts for the rich and two military occupations.
Why should the deficit then be balanced by enacting regressive tax policies like a gas tax, eliminating middle class tax breaks like the mortgage interest and health insurance deductions, cutting Social Security benefits, and cutting salaries for or eliminating entirely public sector jobs for the middle class, while LOWERING corporate tax rates and income tax rates on the wealthy? And where did the magic 21% of GDP did the cap on government revenue come from? Not from other countries that have higher levels of economic stability, security and equality. The looming financial crisis is serious. This proposal is not serious. (Keep in mind that Alan Simpson is a long time apologist for the wealthy and a climate change denier who described Social Security as being "like a milk cow with 310 million tits." Erskine Bowles sits on the board of Morgan Stanley.) |
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