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kentuck Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sun Feb-07-10 01:57 PMOriginal messagePaulson and Greenspan say that deficits are nation's biggest economic problem. Edited on Sun Feb-07-10 02:00 PM by kentuckOn Meet the Press with David Gregory, Paulson was asked if he thought the Bush taxcuts should be allowed to expire. He responded that this would be a tax increase and that would be bad for our economy at the present time. Greenspan responded that we would need to raise taxes and cut spending to bring the deficits under control. Neither of them directly said that the Bush tax cuts should be allowed to expire.So why not let the taxcuts expire and also, cut off the money that employers and employees pay to insurance companies. That should be about $300-400 billion per year. That would equal $3-$4 trillion dollars over the next 10 years. This would be like a taxcut for employers and companies needing to hire or invest in new jobs.The Congress could then take this $300-$400 billion per year and create a single payer system for those folks not covered and also save the Medicare program with any extra money. Of course, that would mean a massive loss to the insurance companies. But it would be a worthwhile swap off. That is one way to bring down the deficits, create more jobs, and save the Medicare system.Of course, they would call it socialism. And they would be right. But it would be so much better than what we now have.
