US Budget

Description
PLEASE FOLLOW INSTRUCTIONS EXACTLY. SOURCE TEXTBOOK AND 1 SCHOLARLY SOURCE.
Week 6 Discussion: US Budget
Required Resources:
Read/review the following resources for this activity:
Textbook=Whitman Cobb, W. N. (2020). Political science today (1st ed.). Washington, DC: Sage, CQ Press.:
Chapter 10
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
    4/7
    $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

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