- allowing the Bush tax cuts to expire for those above $250,000 (saves $54 billion)
- not allowing the Bush tax cuts to expire for those below $250,000
- imposing a 30.657096% surtax on income above one million dollars annually (generates $283.862 billion in new revenue)
- imposing a 23% national tax on sales/consumption (generates $118.6 billion in new revenue)
- using an alternate measure for inflation (saves $21 billion)
- reducing the mortgage deduction for high-income individuals (saves $25 billion)
Sunday, January 12, 2014
Proposed U.S. Federal Government Budget for Fiscal Year 2015
written in December 2013
Total federal budget: $2,546.754 billion
Total proposed new revenues: $446.754 billion
Total proposed savings: $1,253.246 billion
Doesn't move any funds from mandatory into discretionary budget, except for block-grants to states
Doesn't wholly shut down any departments besides the U.S. Department of Commerce
MILITARY / DEFENSE / SECURITY / VETERANS
Total proposed savings: $438.5 billion
1. Bring troops and military infrastructure home from overseas, dismantle military bases, and end the wars in Iraq and Afghanistan as soon as possible, reduce the military to its pre-Iraq-War size, draw down size of Navy and Air Force fleets, reduce nuclear arsenal, reduce military space spending, cancel or delay some weapons programs, eliminate all foreign aid, and cut 1/2 out of the total defense and military budget (saves $331 billion).
2. Abolish the National Intelligence Program, and cut 99% of the budget of the U.S. Department of Homeland Security (saves $107.5 billion).
3. Make no cuts to Veterans' Affairs programs, services to noncombat officers, the Army Corps of Engineers, and the Corporation for National and Community Service.
STATE / JUSTICE / FEDERAL EMPLOYEES
Total proposed savings: $80.096 billion
1. Cut 94% of the budget of the Department of State (saves $56.1 billion).
2. Cut 65% of the budget of the Department of Justice (saves $23.9 billion).
3. Reduce the number of federal contractors by between 220,000 and 250,000, reduce the size of the federal workforce by at least 30%, and cut pay of civilian workers by at least 5%.
4. Cut total aid to states by 34.64%.
5. Cut federal representatives' salaries by 80%, to about $40,000 per year (saves $96 million).
6. Make no cuts to the Smithsonian Institute, White House tours, and national monuments.
TREASURY / BUDGET / TAXATION
Total proposed savings: $14.1 billion
Total proposed new revenues: $355.754 billion
1. Cut 13% of the budget of the Department of the Treasury (saves $14.1 billion).
2. Increase federal revenue by $255.754 billion, by:
3. Oppose the Lincoln-Kyl, Clinton, and Obama proposals on expansions to the estate/death tax and the investment taxes; also oppose a bank tax.
ENTITLEMENTS (HEALTH AND HUMAN SERVICES, SOCIAL SECURITY)
Total proposed savings: $428.8 billion
Total proposed new revenues: $91 billion
1. Keep the Medicaid eligibility age and the Social Security retirement age steady at 65 years old, and don't tighten eligibility standards for Social Security disability.
2. Cap the growth of Medicare beginning in 2013 (saves $29 billion).
3. Generate new revenue to fund Social Security and Medicare by subjecting some incomes above $106,000 to payroll taxes (generates $50 billion).
4. Cut 9% of the budget of the Department of Health and Human Services (saves $80.6 billion)
5. Clear mandatory spending obligations from the budget by block-granting family support programs and the Children's Health Insurance Program (CHIP) to control by the states (saves $330.5 billion).
6. Reduce the tax break for employer-provided health insurance (generates $41 billion in new revenue).
7. Enact medical malpractice / tort reform (saves $8 billion).
8. Cut the Food and Drug Administration by 40% (saves $1.744 billion).
9. Cut 2% of the budget of the Social Security Administration (saves $17.7 billion; includes economic means-testing for recipients, saving $6 billion).
ENERGY / ENVIRONMENT / INTERIOR / AGRICULTURE
Total proposed savings: $136.25 billion
1. Cut the budget of the Department of Energy by 50% (saves $17.8 billion)
2. Cut the budget of the Environmental Protection Agency by 30% (saves $3 billion)
3. Oppose the implementation of a tax on carbon emissions.
4. Cut the budget of the Department of the Interior by 50% (saves $6.75 billion), making no cuts to the National Park Service.
5. Cut the budget of the Department of Agriculture by 18% (saves $27.1 billion), making no cuts to farm subsidies.
6. Clear mandatory spending obligations from the budget by block-granting Food Stamps (SNAP) and the Child Nutrition Program to the states (saves $81.6 billion)
COMMERCE / BUSINESS / LABOR
Total proposed savings: $22.7 billion
1. Abolish the Department of Commerce (saves $9.5 billion).
2. Continue funding the Small Business Administration at current levels.
3. Cut 13% of the budget of the Department of Labor (saves $13.2 billion).
HOUSING / EDUCATION / SCIENCE / TRANSPORTATION
Total proposed savings: $132.8 billion
1. Cut 89% of the budget of the Department of Housing and Urban Development (saves $41.1 billion).
2. Cut 94% of the budget of the Department of Education (saves $67.7 billion), making no cuts to the Office of Drug Free Schools.
3. Keep funding the National Aeronautics and Space Administration (NASA) and the National Science Foundation at current levels.
4. Cut 24% of the budget of the Department of Transportation (saves $24 billion).
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