Today, in Sioux City, I'm going to unveil my comprehensive plan to reduce the federal deficit and national debt, but I thought I would post here first.
Like most Iowans -- and Americans-- I am worried about our growing national debt. I have five grandchildren, and I don't want them saddled with the mistakes made during the past decade. The deficit is also a serious problem. We must use Iowa common sense. I want to eliminate the deficit and the national debt, but not on the backs of seniors citizens, middle class families or out of work Iowans.
Senator Grassley has added to the deficit problems by ushering in the Bush tax cuts,fighting two wars off the books, leading the charge on wasteful funding like the "bridge to nowhere", and recklessly voting for the $700 billion Wall Street bailout -- with no strings attached -- to the big bankers who drove our economy off a cliff.
Many politicians today are born-again debt and deficit reducers, and he is is one of them.
He created this problem and now is trying to point his finger everywhere. What he should do is look in the mirror. While he has been tweeting, I have developed a plan to reduce the deficit.
My plan is after the jump.
1. Repeal tax breaks for companies to ship our jobs to other countries.
This tax break is costly not only to the treasury but in human terms. Iowans know too much about the effect of Grassley’s votes. With companies like Maytag, Electrolux, and Cummins Filtration closing. Thousands of jobs moved out of the country.
2. Repeal the subsidies we give to big oil worth $45 billion.
In the second quarter of this year, Exxon’s profits went up 91% to $7.56 billion dollars, and BP, despite record losses due to the ecological disaster it caused, still made $2.9 billion dollars.
3. Allow the Bush tax cuts for the top 2 percent of the richest Americans to expire.
The Republicans tax cuts for the wealthy are the new TARP –- Tax Assistance for Rich People. These cost us $700 billion dollars –- money we will borrow from China so we can write $100,000 checks to millionaires. In Iowa, only 1.3 percent of filers, 18 622 people, would see their taxes go up.
The whole small business will get hurt argument is false. Recently it was reported that the top 25 hedge fund managers made collectively over 25 billion in 2009. One of the managers made 4 billion by himself. Do you really think they need even more? The whole "small business will get hurt" argument is false. Even Senator Grassley admits only 2 to 3% of those returns report any business income.
4. Allow Medicare to negotiate drug prices.
The federal government can negotiate prices with the drug companies for Medicaid and for the VA but Senator Grassley wrote a provision into Medicare Part D that forbids the government from negotiating prices—by law. Repealing that part would save Iowans $400 million dollars a year. Just one example, if you buy Zocor thru the VA it costs $127. Under Medicare Part D, it costs almost $1,500– 1000% more.
5. Support pay-go and start paying for spending proposals.
My opponent has voted at least eight times against this pay-as-you go or Pay-Go.
My proposal includes several other elements. I'll be here to answer questions for a bit on this plan, or anything else you want to talk about -- thanks!
RoxanneForIowa.com
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