The sequester is a giant con trick perpetrated by BOTH parties.
BOTH parties are scaremongering about a mere $85bn of cuts when there are well over $1tn of cuts to Corporate Welfare and other government waste that can be easily made.
Taxes on the middle class just got hiked by $200bn in the fiscal cliff deal.
BOTH parties are talking about cutting things that almost no one wants to see cut, so that eventually it is agreed that almost no cuts to government spending are made.
$85bn is a trivial amount when the government is spending $3.6tn a year.
It is less than 2.4%.
BOTH parties are scamming you in the worst possible way.
You could not make it up if you tried.
Examples of Corporate Welfare that can easily be cut.
$105bn a year for 7,000 mercenaries still in Iraq.
$170bn on building new and supplying existing foreign military bases.
$88bn per year on the Afghan war. Get out now.
$100bn+ of Medicare fraud.
Reduce the price of prescription drugs. America pays by far the highest prices in the world.
Stop the $200bn of new Corporate Pork a year.
Stop the futile war on drugs and save $200bn a year.
Fine the big banks $200bn+ for the harm they have done - it is easy to do.
Completely reform Corporation Tax.
Ending the tax avoidance by offshoring US generated profits and other tax breaks given to multinationals, banks and arms companies would bring in $200bn a year.
End the personal tax avoidance schemes like carried interest and hedge fund managers diverting their remuneration through reinsurance schemes would also bring in more revenues.
Make the taxation system FAIR. Don't favor the rich and large multinationals over the little guy and small businesses.
There are many other ways of saving money and making the marketplace fairer.
The above adds up to $1,300bn a year.
A lot more than that is possible.
Details in here :-
http://ian56.blogspot.co.uk/2012/11/it-is-very-easy-to-cut-1tn-from-federal.html
The sequester is a giant con trick in other ways too.
Congressional spending plans state that Federal spending will rise by nearly 50% in just 8 short years, to over $5tn in 2020.
The sequester makes a negligible difference - just $100bn of government spending in 2020 out of over $5tn.
The sequester is a mechanism for the large Corporations to keep all of their government subsidies, by distracting the public from what should really be being done.
ALL current policy by both parties is transferring the wealth of the middle class to large Corporations and a few selected rich elites.
Corporate profits are at record levels and so is poverty and the number of people on food stamps.
Current policy ensures there will be hundreds of millions of poor people in America and a handful of rich elites.
Current policy needs to be COMPLETELY REVERSED.
Cut well over $1tn a year from Corporate Welfare.
Use that money to reduce taxes on middle earners and below to raise disposable incomes and get bottom up spending going again.
Give a huge tax break to middle earners and below.
I favor increasing the tax thresh hold from $8,700 to $45,000 as the simplest way.
That would cost $500bn a year.
Give small businesses tax breaks and completely reform Corporation Tax.
Make Corporation Tax a 25% flat rate. No loopholes or tax breaks whatsoever.
This would slightly increase Corporate Tax revenues.
Make the first $100,000 of profits tax free.
That would give a huge tax break to small businesses.
It would also dramatically change for the better the risk/reward ratio of starting up a small business in the first place. There would be more small business start ups.
Simplifying the 7,200 page tax code would also reduce business overheads.
It would put a few accountants and tax lawyers out of a job. That is no bad thing - they are paper pushers and are an overhead to the productive economy.
Appendices
Details of what should be being done to avoid a deep and prolonged recession and the demise of the Middle Class as a demographic in America.
http://ian56.blogspot.co.uk/2013/02/the-us-government-and-federal-reserve_22.html
Why the Federal Reserve is making things WORSE with more printing and increasing it's balance sheet.
The speculative banks already have $2tn of excess reserves.
They are using that money to speculate on things like food and gas.
They are pushing up food and gas prices and reducing disposable incomes that can be spent on everything else .
Goldman Sachs made $400m in 2012 pushing up food prices.
The price of gas just hit an all time record for February.
http://ian56.blogspot.co.uk/2013/01/the-2tn-of-excess-bank-reserves-is.html
Why the Federal Reserve is making a sure fire losing bet and is going to hand taxpayers a HUGE multi trillion bill for their losses.
The frightening path that the Federal Reserve and the government have set out upon.
http://ian56.blogspot.co.uk/2013/02/there-is-no-way-out-for-federal-reserve.html
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