Originally Posted by BigRedChief
With the fiscal cliff looming and both sides talking about more than a band aid approach but real long term solutions. For that to happen, there is going be some pain and its going to have to be painful to everyone.
If every segment, group and social/economic part of America is going to chip in something to get out of this deficit/debt, what will you be willing to chip in as an individual? Again, this is only if everyone is having to chip in something.
I'd be willing to give up the medical/dental insurance being deducted from my paycheck before taxes are taken out. That pre-tax break that I get from the government will increase my tax bill around $1000 - $1,500 every year.
Unfortunately I don't have a plan that qualifies for pretax withholdings. So I'd definitely be willing to give that up
I'd be willing to give up virtually anything, as long as I'm not the only jackass that gets poked.
I'd be more than willing to give up any social security/medicare/medicaid program. The likelihood is that they won't be around when I'm retirement age anyway. However, I would think that anybody over 55 would be grandfathered in. I do have some people I care about that would be adversely affected by a complete shut off.
As far as the farm bill, I'd be willing to give up every farm program save crop insurance subsidies. I'd especially be in favor of most anything the NRCS does. They're fairly worthless. I would especially LOVE to eliminate the other 83% of the farm bill that is Food stamps, WIC, and school lunches.
From a tax perspective, I'd be willing to do away with Standard Deduction as long as everybody else is too. I think the medical, at least should remain in Schedule A. I would be willing to do away with Section 179. I would be willing to give up my 1/2 SE Medical Insurance. However, if they shitcan SS, medicare, medicaid, they better get rid of SE tax. Also, I am completely unwilling to be taxed on gross business earnings. I will shut my business down the day it gets taxed on gross earnings.
That's pretty much all the breaks I can think of that I get.