Initial reports from the commission to cut the deficit would seem to want to fix things on the backs of the middle class.
- No apparent cuts in funding to welfare programs or Earned Income Credits.
- No apparent desire to make the Federal budget smaller.
- Wants to limit or eliminate mortgage interest deductions (home owners)
- Deductions for Child Care (Mostly effects lower and middle income and single parents)
- Eliminate tax breaks for capital gains (investors)
- Reduced Military Spending
- Gas Tax (regressive for lower income earners)
Things that won’t really help the budget now or in the near future
- Limiting malpractice suites (has nothing to do with government deficits)
- Raise the Retirement age for Social Security to 68 by 2050. Currently you have to be almost 67 to be “fully” retired under Social Security.
You need to write to your congressman and Senator today. Just because the election is over, it doesn’t mean your responsibility is done.