Polli/Chamberlain Week 6

nitial Post Instructions
You are an advisor to the President tasked with cutting at least $300 billion from the budget. The president wants your recommendations to cut lines, not large categories. Explain why you chose those cuts.

Note: These are not true US budget numbers.
    
DOMESTIC PROGRAMS AND FOREIGN AID

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Cut some foreign aid to African countries

 $17 billion
 

Eliminate farm subsidies

 $14 billion
 

Cut pay of civilian federal workers by 5 percent

 $14 billion
 

Reduce the overall federal workforce by 10%

 $12 billion
 

Cut aid to states by 5%

 $29 billion
 
MILITARY

Cut the number of nuclear warheads, and end the “Star Wars” missile defense program

 $19 billion
 

Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe

 $25 billion
 

Cancel or delay some weapons programs

 $19 billion
 
HEALTHCARE

Enact medical malpractice reform by reducing the chances of large malpractice verdicts

 $ 8 billion
 

Increase the Medicare eligibility age to 68

 $ 8 billion
 

Raise the Social Security retirement age to 68.

 $ 13 billion
 
EXISTING TAXES

Return the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed.

 $ 50 billion
 

End tax cuts for income above $250,000 a year

 $ 54 billion
 

End tax cuts for income below $250,000 a year

 $ 172 billion
 

Payroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare.

 $ 50 billion
 
NEW TAXES

Institute a Millionaire’s tax on income above $1 million

 $ 50 billion
 

Add a national 5% sales tax

 $ 41 billion
 

Add a tax on carbon emissions

 $ 40 billion
 

Tax banks based on their sizes and the amount of risk they take.

 $ 73 billion
 
Total gap covered by your budget plan

$_________________
Use evidence (cite sources) to support your response from assigned readings or online lessons, and at least one outside scholarly source.
Follow-Up Post Instructions
Respond to at least two peers or one peer and the instructor. Further the dialogue by providing more information and clarification. Minimum of 1 scholarly source, which can include your textbook or assigned readings or may be from your additional scholarly research.

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