Budget Hero has no options for Lefty ideas when you click taxes they claim legitimacy for their numbers by pointing out that all their budget ideas come from CBO numbers
The CBO provides specific budget forecasts for the next ten years and then makes assumptions about growth after the ten-year period, based on economic and inflation forecasts. The CBO assumes continuation of current law, even if the political debate does not. Specifically, the CBO assumes Bush tax cuts and other provisions signed into law in 2001 and 2003 expire in December 2012, even though that’s — politically speaking — highly unlikely.
( Please look http://www.marketplace.org/topics/economy/budget-hero link then go to the data section for quote )
However lies of omission are still lies the Congressional Black Caucus budget cutting ideas were left out of the taxes section of the budget cutting options you can choose including gems like this.
Tax Capital Gains and Dividends as Ordinary Income
The CBC Budget proposes that Wall Street investment bankers and hedge fund managers pay
the same marginal tax rates on their income as the soldier fighting in Afghanistan, a New York
firefighter, and a public school teacher in Virginia pay on their income.
The CBC Budget projects that this would raise $956.4 billion over the next decade.
( My bold ) And This Gem
Financial Speculation Tax
A financial speculation tax of 0.25% on stock transactions could raise nearly $76 billion annually
( My Bold ) And This Gem
Enacting a surcharge of 5.4% of joint filers’ adjusted gross income for that portion of their
income exceeding $1 million, similar to one included in the House‐passed version of the
America’s Affordable Health Choices Act (H.R. 3962) in the 111th Congress, would generate at
least an estimated $52.2 billion annually (by 2015) and approximately $578 billion over the next
( My Bold )And This Gem
A worldwide tax system, which taxes all profits of U.S. corporations the same and provides a
credit to avoid double‐taxation, would be a more efficient means of taxation without
encouraging corporations to shift jobs or profits abroad. Current law subjects all profits of U.S.
corporations to U.S. taxes; however, corporations are allowed to defer taxes on offshore profits
until those profits are repatriated. It is often the case that many large corporations never
repatriate these profits and, therefore, avoid paying U.S. taxes. According to a recent report by
Citizens for Tax Justice, deferral creates an incentive for American corporations to disguise their
U.S. profits as “foreign” profits and further incentivizes the off‐shoring of American jobs. The
U.S. Department of the Treasury estimates that deferral of U.S. taxes on offshore corporate
profits costs at least $50 billion each year
Deny Mortgage Interest Deduction for Vacation Homes & Yachts
The American taxpayer should not subsidize beach homes or yachts for the wealthy. However,
under current law, individuals can claim the mortgage interest deduction on vacation homes
and loans for the purchase of yachts. The original intent of the mortgage interest deduction
was to promote homeownership, not to claim it on both a primary residence and a vacation
The CBC Budget projects limiting the mortgage deduction to only a primary residence would
save approximately $12.5 billion over the next decade.
( My Bold ) People are getting tax breaks for Yachts WTF! There are tons more ideas in the Congressional Black Caucus budget but fearing copyright law and making this article to long I won’t quote them all. Please read the link for more information.
I find it hard to believe that the CBC budget was not scored by the CBO. NPR is lying by omission and trying to brainwash our kids by not presenting our ideas. They are doing this with our tax dollars!
The Congressional Progressive Caucus Budget cutting ideas were left out too!
As was Ron Paul’s budget!
NPR gives people the option of pursuing a Tea Bagger Budget proposal but notice that Rep Ryan’s Budget ideas were scored by the CBO in a very funny way.
a huge asterisk must be appended to these figures: much of the CBO’s estimates of revenue and spending are not the result of evaluating particular policies.
Mr Ryan’s staff simply instructed the CBO to assume revenues remain at 19% of GDP. “There were no specifications of particular revenue provisions that would generate that path”, it says. This can be risky. When the CBO analysed Mr Ryan’s Roadmap for America’s Future, it accepted Mr Ryan’s instructions that revenues would rise to 19% of GDP. When the Tax Policy Center analysed the specifics of the Roadmap, it concluded that tax revenue would fall below 17% of GDP.
The tea baggers are now less popular than Muslims and Atheists but their budget ideas get to be options on the Budget Hero game. CBO, Progressive, Ron Paul’s budgets all were blacklisted Despite the fact that the majority of Americans like many of the ideas in these budgets more than they like the Tea Bagger Rep Ryan budget.
If the only criteria to get on budget hero is a CBO score then why were all these budget ideas not included?
If popular political support for any particular budget idea was a criteria then the Tea Bagger budget would not pass the laugh test since only in Washington and the Media is that budget considered a good idea.
NPR is guilty of Government Censorship.