Support Bernie's Progressive Budget
If we are going to change the conversation about deficits away from giving even more tax breaks to millionaires while cutting Social Security, Medicare, and Medicaid, then we have to make a strong opening bid.
Join with Daily Kos and Senator Bernie Sanders by becoming a citizen co-sponsor of Bernie's progressive budget alternative:
We can achieve deficit reduction in a way that is fair and that doesn’t require decimating the social programs that millions of working families depend on:
1) The Wealthy and Large Corporations Must Pay Their Fair Share
—By cracking down on offshore tax shelters, we can reduce the federal deficit by as much as $1 trillion over the next decade.
—By taxing capital gains and dividends the same way that we tax salaried work, we would raise over $730 billion over ten years.
—By repealing the Bush tax cuts for the rich, we could raise at least $700 billion over the next ten years.
—By establishing a Wall Street speculation fee of less than one percent, we will encourage investment in a productive economy and reduce the deficit by $350 billion over ten years.
—By establishing a progressive estate tax on inherited wealth of more than $3.5 million, we could raise more than $70 billion over ten years.
—By ending tax breaks and subsidies to big oil, gas and coal companies, we could reduce the deficit by more than $40 billion over the next ten years.
2) Reduce Defense Spending
—By eliminating outdated Cold War weapons programs, we can save approximately $100 billion a year at the Pentagon.
—By eliminating waste, fraud and abuse within the military and every federal government agency, we can save between $150 billion and $200 billion over ten years.
—Four separate investigations by the Government Accountability Office have found that the Pentagon has $36.9 billion in spare parts that it does not need. We must reform the Pentagon’s purchasing practices to be more transparent and cost effective.
—By bringing the troops home from Afghanistan as soon as possible, we can bring about substantial reductions in defense spending.
3) Protect Social Security, Medicare and Medicaid
—Bernie has introduced legislation that would lift the payroll tax cap on those making over $250,000 annually, which would keep Social Security solvent for another 75 years.
—By requiring Medicare to negotiate drug prices, we could save more than $15 billion a year.
4) Create Good-Paying Jobs
—By eliminating loopholes in our tax code, which reward companies that move U.S. manufacturing jobs overseas, the Joint Tax Committee has estimated that we could raise more than $582 billion in revenue over ten years.
—By establishing a currency manipulation fee on China and other currency manipulators, the Economic Policy Institute estimates that we can raise $500 billion over ten years and create one million new jobs.
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