Week 6 Discussion: US Budget
Required Resources Read/review the following resources for this activity: Textbook: Chapter 10 Lesson Minimum of 1 scholarly source (in addition to the textbook) Initial Post Instructions You are an advisor to the President tasked with cutting at least $300 billion from the budget. The president wants your recommendations to cut lines, not large categories. Submit your recommendations and your reasoning for such recommendations using these guidelines: - Use evidence (cite sources) to support your recommendations from assigned readings or online lessons, and at least one outside scholarly source. - Use the format provided below to present your numbers and totals followed by an explanation below the chart. - Please note that these are not true US budget numbers, but are reasonable hypothetical numbers to help us consider the budget processes complexities. DOMESTIC PROGRAMS AND FOREIGN AID Cut some foreign aid to African countries $17 billion Eliminate farm subsidies $14 billion Cut pay of civilian federal workers by 5 percent $14 billion Reduce the overall federal workforce by 10% $12 billion Cut aid to states by 5% $29 billion MILITARY Cut the number of nuclear warheads, and end the "Star Wars" missile defense program $19 billion Reduce military to pre-Iraq War size and further reduce troops in Asia and Europe $25 billion Cancel or delay some weapons programs $19 billion HEALTHCARE Enact medical malpractice reform by reducing the chances of large malpractice verdicts $ 8 billion Increase the Medicare eligibility age to 68 $ 8 billion Raise the Social Security retirement age to 68. $ 13 billion EXISTING TAXES Return the estate tax to Clinton-era levels, passing on an estate worth more than $1 million to their heirs would have portions of those estates taxed. $ 50 billion End tax cuts for income above $250,000 a year $ 54 billion End tax cuts for income below $250,000 a year $ 172 billion Payroll tax increase for people making over $106,000 annually contributing more to Social Security and Medicare. $ 50 billion NEW TAXES Institute a Millionaire's tax on income above $1 million $ 50 billion Add a national 5% sales tax $ 41 billion Add a tax on carbon emissions $ 40 billion Tax banks based on their sizes and the amount of risk they take. $ 73 billion Total gap covered by your budget plan $_________________ Follow-Up Post Instructions Respond to at least 1 peers or one peer and the instructor. Further the dialogue by providing more information and clarification. Are the budget changes offered by your peers' sound? Why or why not? Minimum of 1 scholarly source, which can include your textbook or assigned readings or may be from your additional scholarly research. Writing Requirements Minimum of 2 posts (1 initial & 1follow-up) Minimum of 2 sources cited (assigned readings/online lessons and an outside scholarly source) APA format for in-text citations and list of references Due Date for Initial Post: By 11:59 p.m. MT on Wednesday
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