Deficit Reduction for Dummies

Taxes(1): An ``emergency'' tax of 60% on all income above $1,000,000. (Such income levels were taxed at 90% back in pre-Reagan days.)

Medicare and Medicaid: Get rid of the health insurance industry; introduce Single Payer. That way we can get our health care costs down to around 10% of GDP, the level it is in the rest of the developed world. Businesses should like this, since this decreases their tax burdens and paper work.

Taxes(2): Institute a sales tax on stocks and other financial transactions; a .5%(.005) tax on every financial transaction on the NY Stock Exchange, NASDAQ, Chicago Board of Trade, etc. This would not bother the ordinary person, but might slow down the casino aspects of these markets. It would bring in great hunks of moolah too.

Wars: Shut down the illegal and immoral wars in Afghanistan and Iraq IMMEDIATELY. They cost $2,000,000,000 per WEEK. Bring our troops home and settle them in pleasant camps along the US-Canadian border, on the alert for a possible Canadian attack. We don't know when Osama bin Laden may suddenly make a move toward Canada; our military should be held in readiness for such eventualities.

Social Security: Raise the cap on Social Security contributions from its present level to $1,000,000. Make a note to look at this issue again in 2035.