Which of the following options (alone or in combination) would you recommend that the Congress and the President pursue to reduce our projected Federal deficits and debt and why
- Dramatically cut military spending
- Raise taxes significantly on the wealthy
- Raise taxes substantially on low & middle incomes by imposing a national sales tax
- Dramatically cut Medicare budgets for senior health care by privatizing it (Ryan plan)
- Cut social security payments (e.g. by not letting them rise as fast as the CPI)
- Dramatically cut Medicaid payments for poor children and adults
- Raise taxes significantly on energy use (e.g. gasoline, jet fuel, natural gas)
- Dramatically reduce the many tax subsidies and offshore tax havens that now go to U.S. corporations despite the disputed claim by such corporations that this will force them to lay off workers
(Hint: there are not many other options that can have a big impact on the U.S. National debt).