At first I decided to cut foreign aid and reduce the federal workforce by 10%. When it comes to national welfare Military sector should step back, so I chose reduction of nuclear arsenal and space spending, military reduction to pre-Iraq War size and further troops reduction in Asia and Europe, cancelation or delaying of some weapons programs, reduction of noncombat military compensation, and troops reduction in Iraq and Afghanistan to 30,000 by 2013. In the Health Care sphere I consider increasing the Medicare eligibility age to 70 and cap Medicare growth starting in 2013 to be excessive. We should also add to the Existing Taxes the allowance of expiration for income above $250,000 a year. New Taxes and Tax Reforms should include: millionaire’s tax on income above $1 million, carbon tax, and bank tax.
It mostly was hard to decide whether our country should cut military spending. We have one of the best military sectors in the world. However, our government spends a lot of money in order to send its citizens to other countries. I agree that we should have military bases, but supporting thousands of soldiers abroad costs a fortune to our country. Those soldiers have families to take care of, and they can greatly contribute to our country at home.
The thing I was greatly surprised by is that we still don’t have millionaire, bank and carbon taxes. 5,4% tax for income more than $1 million is trifle. Tax that will cool down risky banks a bit is a must. Small taxes like that may prevent our economy from severe downfalls in future. Let’s remember the crisis of 2008. Maybe this tax could prevent us from that. Who knows? Taxes that are created to save the environment is a commonplace in the EU. They make enterprises pay more money to the government and create ecological ways of work.
I consider this tool to be very helpful by showing ordinary citizens how different programs and taxes are implemented and what consequences they impose. It shows that one has to be responsible for his decisions and realize that those decisions have positive as well as negative sides.