US Budget Simulator

[jimmy olsen]

Under my enlightened rule the US debt will decrease to 60% of GDP by 2028.

Though I will note that had there been an option I would have increased the number of ships in the navy. Of course, I would also have cut farm subsidies if that had been an option.

http://crfb.org/stabilizethedebt/#


Savings Relative to Current Law = $2.47 Trillion

Choose Your Path
Afghanistan

Eliminate War Funding After 2021 -$820B
Fully Repeal the Sequester $1,040B

Alter the Sustainable Growth Rate
Adopt Medicare Payment Advisory Commission Recommendations $100B

Defense, Diplomacy & Security

Cancel the Ground Combat Vehicle and Defer Development of the Long-Range Bomber -$50B
Maintain Current Army Levels $130B

Domestic Social & Economic Spending
Restart the NASA Moon Mission and Create a Moon Colony $250B
Enact Increased Transportation Funding $100B


Social Security
Include All New State and Local Workers -$90B

Health Care
Establish a Public Option in the Health Exchanges -$220B
Modernize Cost Sharing for Medicare -$160B
Require Manufacturers to Pay a Minimum Drug Rebate for Medicare Low-Income Beneficiaries -$170B
Enact Medical Malpractice Reform -$70B
Bundle Payments for Inpatient and Post-Acute Care -$70B
Replace Traditional Medicare with Premium Support -$380B

Revenue
Raise Tax Rates on Capital Gains and Dividends -$60B
Increase Excise Taxes on Alcohol -$80B
Impose a Financial Crisis Responsibility Fee -$70B
Restore 2009 Estate Tax Parameters -$150B
Enact Carbon Tax or Cap-and-Trade -$450B
Impose a 5.4% Surtax on Income Above $1 Million -$550B
Enact the Buffett Rule -$90B

Raise Social Security Payroll Tax Cap
Raise Cap to Cover 90% of Earnings -$550B

Tax Expenditures
Eliminate LIFO Accounting and Oil and Gas Preferences -$170B
Expand the EITC and Child Tax Credit $110B
Extend American Opportunity Tax Credit $80B

[Ideologue]

Does it let you go to an all-nuclear military and nationalize banks?

Impose a 5.4% Surtax on Income Above $1 Million -$550B

Ooh.  I'd buy that for a dollar.

[Monoriu]

I think the goals are far too modest.  You should not just aim to reduce the deficit.  The real goal is to generate a fiscal surplus, repay all the debt, then use the surplus to set up an investment fund, and use the proceeds of the fund to generate additional recurrent income.  That's what we do in HK. 

[Siege]

Does it let you go to an all-nuclear military and nationalize banks?

Impose a 5.4% Surtax on Income Above $1 Million -$550B

Ooh.  I'd buy that for a dollar.

Why would you want to nationalize banks?
Since when have that aided the economy?

[The Brain]

Does it let you go to an all-nuclear military and nationalize banks?

Impose a 5.4% Surtax on Income Above $1 Million -$550B

Ooh.  I'd buy that for a dollar.

Why would you want to nationalize banks?
Since when have that aided the economy?

It's the Jews, stupid.

[Eddie Teach]

Restart the NASA Moon Mission and Create a Moon Colony $250B

[Razgovory]

Does it let you go to an all-nuclear military and nationalize banks?

Impose a 5.4% Surtax on Income Above $1 Million -$550B

Ooh.  I'd buy that for a dollar.

Why would you want to nationalize banks?
Since when have that aided the economy?

1913

[jimmy olsen]

Does it let you go to an all-nuclear military and nationalize banks?

Impose a 5.4% Surtax on Income Above $1 Million -$550B

Ooh.  I'd buy that for a dollar.

Why would you want to nationalize banks?
Since when have that aided the economy?

Nobody said anything about nationalizing the banks.

[Darth Wagtaros]

Does it let you go to an all-nuclear military and nationalize banks?

Impose a 5.4% Surtax on Income Above $1 Million -$550B

Ooh.  I'd buy that for a dollar.

Why would you want to nationalize banks?
Since when have that aided the economy?

Nobody said anything about nationalizing the banks.

Ides did.

[The Minsky Moment]

I think the goals are far too modest.  You should not just aim to reduce the deficit.  The real goal is to generate a fiscal surplus, repay all the debt, then use the surplus to set up an investment fund, and use the proceeds of the fund to generate additional recurrent income.  That's what we do in HK.

Why would you want the government to do that?
Think for a moment what what happen if every country's government did the same thing.

[celedhring]

Moreover, every country in the world should run a trade surplus.

[Admiral Yi]

Why would you want the government to do that?

Presumably to finance the retirement of an aging population.  Another use for a sovereign wealth fund  is to distribute natural resource wealth across generations.

[The Minsky Moment]

Presumably to finance the retirement of an aging population.

Assuming that the government is assuming primary responsible for pensions, perhaps. But then why have 401k, etc. in the tax code?

Another use for a sovereign wealth fund  is to distribute natural resource wealth across generations.

Yes.  But only an issue for a few countries.

[Admiral Yi]

Assuming that the government is assuming primary responsible for pensions, perhaps. But then why have 401k, etc. in the tax code?

It still makes sense if the government has  any responsibility at all for pensions.

[The Minsky Moment]

Assuming that the government is assuming primary responsible for pensions, perhaps. But then why have 401k, etc. in the tax code?

It still makes sense if the government has  any responsibility at all for pensions.

That would only be true if one thinks that the government will be more effective in investing the surplus funds. Otherwise it would be a better idea to distribute the money back for the general population to invest and rely on higher path growth rates to finance the pension obligation.