Centerpiece of 2016 GOP platform: Heritage Foundation's "The Plan." (employment, interstate)
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The link below is to an economic plan by Heritage that will balance the federal budget within one decade, reduce the debt to 30% of GDP within 25 years and put it on a pace to continue falling, cut the size of the federal government by 25%, and reform the tax code substantially.
I'll sumarize the basics of the plan but feel free to read through the link below.
Caution...the entire plan is a little long...about 55 pages but it is worth a read...if nothing else to debate it.
If nothing...read the bold points and check the charts at the end of the PDF.
Social Security: means test benefits (wealthy older citizens receive no benefit), raise the eligibility age for participation, incentivize workers to stay in the labor force longer by allowing them to retain a higher % of after tax income after they reach the retirement age, and transition SS into more of a social insurance policy against poverty as opposed to a retirement plan.
Medicare: It is currently facing a 75 year unfulfilled liability in excess of $30 trillion. The heritage plan involves means testing and premium support, price transparency, incentives for savings on basic, predictable treatments....etc. The website is a better source for this one...there are a lot of details listed on the link.
Health Care Reform: The Plan calls for the repeal of the ACA and inserts the following as sustainable solutions to healthcare: Remove the tax advantage status of employer provided healthcare and require that all healthcare be listed as taxable income. Businesses will start dropping insurance in lieu of higher salaries. This will create a more robust market for health insurance in the private market and will significantly limit the people that we see dropped because of pre-existing conditions because people won't have insurance tied to their place of employment. By removing this tax break the Plan introduces tax credits for families to purchase healthcare on the private market. The tax credit is 2k for a single or 3500 for a family of four. For very low income people that don't qualify for Medicaid, with no tax liability the advanceable credit would by up to 5500. The plan calls for empowerment of non-physician providers like NP's and PA's, mandated price transparency by health care providers to create competition, and dismantling interstate barriers on purchasing insurance policies
Other major spending reforms: Privatize most federal highway spending...as it stands the under the Federal Highway Program, Washington taxes fuel at 18.3 cents/gallon and takes a large admin fee and then sends it to the state with strings attached...the tax should be cut and sent straight to the states, work to cut defense spending, means test farm subsidies for higher income farmers and institute Farm Savings Accounts, return spending on community job training, economic development, environmental and justice training to the state level, and federal asset sales (the federal government owns massive swaths of commerical land in the West, power generation facilities, underutilized commerical real estate, and other financial assets. Heritage calcultated this could add an additoinal 300 Billion dollars to the balance sheets for property and assets that are being underutilized.
Tax Rates: Flat rate at 25% for individuals and businesses, fewer deductions/credits (higher education, mortgage interest, and charitable donations.) The plan also provides protection for low income earners. Current law hits low income earners hard...the Plan rolls all into the single 25% rate. It then eliminates any all income tax owed through the health insurance credits. In addition...the Earned Income Credit is retained and the calculation of taxable incomes exclude all cash and non-cash benefits like food stamps, and other anti-poverty programs.
The link below is to an economic plan by Heritage that will balance the federal budget within one decade, reduce the debt to 30% of GDP within 25 years and put it on a pace to continue falling, cut the size of the federal government by 25%, and reform the tax code substantially.
I'll sumarize the basics of the plan but feel free to read through the link below.
Caution...the entire plan is a little long...about 55 pages but it is worth a read...if nothing else to debate it.
If nothing...read the bold points and check the charts at the end of the PDF.
Social Security: means test benefits (wealthy older citizens receive no benefit), raise the eligibility age for participation, incentivize workers to stay in the labor force longer by allowing them to retain a higher % of after tax income after they reach the retirement age, and transition SS into more of a social insurance policy against poverty as opposed to a retirement plan.
Medicare: It is currently facing a 75 year unfulfilled liability in excess of $30 trillion. The heritage plan involves means testing and premium support, price transparency, incentives for savings on basic, predictable treatments....etc. The website is a better source for this one...there are a lot of details listed on the link.
Health Care Reform: The Plan calls for the repeal of the ACA and inserts the following as sustainable solutions to healthcare: Remove the tax advantage status of employer provided healthcare and require that all healthcare be listed as taxable income. Businesses will start dropping insurance in lieu of higher salaries. This will create a more robust market for health insurance in the private market and will significantly limit the people that we see dropped because of pre-existing conditions because people won't have insurance tied to their place of employment. By removing this tax break the Plan introduces tax credits for families to purchase healthcare on the private market. The tax credit is 2k for a single or 3500 for a family of four. For very low income people that don't qualify for Medicaid, with no tax liability the advanceable credit would by up to 5500. The plan calls for empowerment of non-physician providers like NP's and PA's, mandated price transparency by health care providers to create competition, and dismantling interstate barriers on purchasing insurance policies
Other major spending reforms: Privatize most federal highway spending...as it stands the under the Federal Highway Program, Washington taxes fuel at 18.3 cents/gallon and takes a large admin fee and then sends it to the state with strings attached...the tax should be cut and sent straight to the states, work to cut defense spending, means test farm subsidies for higher income farmers and institute Farm Savings Accounts, return spending on community job training, economic development, environmental and justice training to the state level, and federal asset sales (the federal government owns massive swaths of commerical land in the West, power generation facilities, underutilized commerical real estate, and other financial assets. Heritage calcultated this could add an additoinal 300 Billion dollars to the balance sheets for property and assets that are being underutilized.
Tax Rates: Flat rate at 25% for individuals and businesses, fewer deductions/credits (higher education, mortgage interest, and charitable donations.) The plan also provides protection for low income earners. Current law hits low income earners hard...the Plan rolls all into the single 25% rate. It then eliminates any all income tax owed through the health insurance credits. In addition...the Earned Income Credit is retained and the calculation of taxable incomes exclude all cash and non-cash benefits like food stamps, and other anti-poverty programs.
I don't see anything in here that Democrats could exploit to buy votes, so they will never go for it.
You`re gonna take away benefits from well off Republicans and Democrats that have paid into these programs for 40 or so years? That`s funny. No one takes the corporate funded propaganda machine called the heritage foundation seriously anymore and haven`t for a couple of decades at least. This is nutty stuff they`re proposing.
You`re gonna take away benefits from well off Republicans and Democrats that have paid into these programs for 40 or so years? That`s funny. No one takes the corporate funded propaganda machine called the heritage foundation seriously anymore and haven`t for a couple of decades at least. This is nutty stuff they`re proposing.
By "no one" I have to assume you mean "those who pretend that outlets like media matters" are honest brokers....
As opposed to "no one" meaning "no one" because there are a lot of us who actully do take HF serious.
I see nothing in the plan outlined here that is bad.
LOL. I see so many abuses and unintended side effects. Its a mixture of "huh that looks good" and "yeah thats...oh wait....oh no...thats horrifying" A 25% tax on business with fewer deductions? Yeah the business community will go for this.....sure.
I will flag this for later reading, this should be fun.
This is the same crap they have been shopping for years. The flat tax alone hasn't gotten more than laughs for years. Same with the premium support from vouchers for Medicare, and gradually eliminating social security benefits while keeping people paying into it.
Add in their alternative for health care plans was ripped apart in the 2012 election that it wouldn't even cover half of health care costs for a normal family. Their "cost savings" plan includes certifying not just NP's and PA's to practice medicine...but herbalists and chiropractors with 0 medical training.
Insanity is trying the same thing over and expecting different results. This plan is the same the American people have rejected in part, and in whole, but they seem to think calling it new will make people believe it is something different.
This is the same crap they have been shopping for years. The flat tax alone hasn't gotten more than laughs for years. Same with the premium support from vouchers for Medicare, and gradually eliminating social security benefits while keeping people paying into it.
Add in their alternative for health care plans was ripped apart in the 2012 election that it wouldn't even cover half of health care costs for a normal family. Their "cost savings" plan includes certifying not just NP's and PA's to practice medicine...but herbalists and chiropractors with 0 medical training.
Insanity is trying the same thing over and expecting different results. This plan is the same the American people have rejected in part, and in whole, but they seem to think calling it new will make people believe it is something different.
You mean like the Democrats' plan of printing money endlessly?
Say, what ***is*** the Democrats' plan? You don't even know, but whatever it is, you're sure it's better than anyone else's plan! Let's face it, you shouldn't be allowed to vote.
You mean like the Democrats' plan of printing money endlessly?
Say, what ***is*** the Democrats' plan? You don't even know, but whatever it is, you're sure it's better than anyone else's plan! Let's face it, you shouldn't be allowed to vote.
"Deficits dont matter" was a mantra said by which party?
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Let's face it, you shouldn't be allowed to vote.
