Both political parties, Democrat and Republican, are going to present budget proposals that are D.O.A. What is the point of proposing something that offers no compromise? The Democrats have yet to present theirs, so I am jumping the gun a bit. I dont understand why our two party system cannot compromise. It is ridiculus already.
Paul Ryan presented his budget today, which is basically a carbon copy of his last budget. He gives the wealthiest Americans another tax break, lowering it from 37% to 25%, puts corporate taxes at 35% and of course attacks entitlements. He says he is looking for a balanced proposal, but please remeber we have gotten $2.50 in spending cuts compared to $1.00 in higher taxes under President Obama. Ryans budget ,which I will write a more involved post on later, works under assumption that the ACA is repealed. Yet he uses the savings from the repealed ACA to pay down budget.
Looking into my crystal budget ball I will make a few assumptions about the Democrats budget proposal. Of course they are going to call for more revenue from closing tax loopholes. Probably raise the corporate tax rates and try to reform entire tax code in order to close overseas tax loopholes. I do not think they are going to offer any more cuts to “entitlement” programs. I am not sure if this is right but income inequality is at one of the highest levels in our history.
All the same good points and bad points aside, there seems as if there is no chance of either bill passing. Now please remember these are proposals, so their is not any information on what legislations would be changed. I support President Obama, but if he keeps giving in to cuts to programs that help people he will be deemed a failure. On the other hand why do Paul Ryan and the Republican party insist on creating manufactured issues.
These are the reason people distrust Congress, Republican party and voted overwhelmingly Democrat. Republicans continue to get boxed in by the Tea Party. Just the other day Ted Cruz (R-Tx) and Mike Lee (R-Ut) said they would hold up vote to stop government shutdown unless the ACA was repealed. Again the extremist in Congress are trying to hold Americans hostage. But keep putting out unpassable budgets.
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