^{Photo courtesy of AP}

Obama's "Debt Commission" co-chairs--a pair of grumpy old white guys with enough money between them that they will absolutely not have to worry about anything during their remaining years, certainly not having enough money for dialysis or wheelchairs or food or whatnot--released their report.  And as one might expect, it contains the usual "you little people at the bottom have to tighten your belts" stuff.

Honestly, it makes me mad.   But then, I'm one of the little people.

So I got to thinking--sorry, just can't help myself--what would I suggest if I  could have some input on this topic?  (Well, the first thing I would suggest is to put it off until unemployment drops below 8%, but hey, that's just me.)  And unsurprisingly, I came up with quite a few things that would definitely improve the budget situation, even if it would make Our Lords and Masters hawk up a furball in rage. 

First off, I want an "after you, Alphonse" moment.  The folks at the bottom end of the income spectrum--and by this I mean 95% or so of Americans--are already paying a high price for the Bush Administrations idiotic decisions and fiscal profligacy.  So this time, other folks need to go first.   After all, it's only "fair", and Republicans like to bleat a lot about "fairness" and "equal treatment"; it's time for them to display some.

So how about as an act of good faith, Republicans agree to cut $100 billion from the Defense budget?  That's less than 20%, and as our defense spending contains an hellacious amount of waste, and is bigger than all the defense budgets of the rest of the world combined, I think we can afford it, you know? 

Or how about this: corporations are considered to be "people" when it comes to contributing campaign money--the Supreme Court says so! So why not  consider them "people" when it comes to taxes, and put them in similar tax brackets to regular folks?  Small businesses would get the lowest rates, and giant multinationals would get the highest.  And most importantly, close the loopholes.  If your giant multinational declared a $2 billion profit, and you didn't pay any taxes, it's audit time, baby!

And how about a default penalty when no taxes are paid but the company declares a profit?  Say, 50% of the amount declared as profit?  Plus an audit?  How's that sound?  If you made a profit and paid no taxes, you're not paying your "fair share," don't you agree, Big Business CEOs?  (And if not, why not?)

How about a 75% tax on all corporate executive earnings--including bonuses and stock options--for anyone earning more than 10 times the average worker's pay?  Hell, I'll compromise like a Republican--15 times average worker pay.  So if your average employee makes 50K, if you make more than 750,000/year, fine, but it gets taxed at 75%.   Then you have a choice if you don't like it--raise your employees salary.  Which would increase tax revenue.  Win/win, yeah?

Speaking of rich executive types, how about we close all tax loopholes and cancel all deductions for people making over, say, $500,000 a year?  Or even a million?  I'd be willing to let them keep their moronic Bush tax cut, keeping their rate at 35%  if it means that they actually pay 33%.  So you make $1 million?  Fine; you pay $330,333, no ifs, ands, or buts.  Why not?  Isn't that your "fair share", you rich rich executive types?  It's not "punishing success"; it's not "class warfare"; it's your "fair share".  So pay it!  

After all, those of us at the bottom can't afford to pay tax lawyers, have special accounts set up, create tax shelters, and the like.  If we're taxed at 35%, we pay 33%, like it or not.  Why not you?

Hey, you want us to give up our deductions, too?  Fine.  But you first.  And defense spending.  Then we'll consider it.  Otherwise, you're just blowing smoke, and you know it.   But if you pay your full share, then yes, I'll give up my dependent deduction and my mortgage deduction.  I'm losing my house and will have to be renting for the rest of my natural life anyway, so why the hell not?  But you first.

Now, I think it goes without saying that there should be an immediate end to the income tax cut for folks making over $250,000.  Capital gains should be taxed at the same rate as your income.  (Why the hell not?)  Payroll deductions should be allowed to continue to increase based on income, so that everyone can pay "their fair share."  Inheritance should be taxed at least your level of income, if not more.  Why not?  It's free money, basically!

Want to save even more money?  I would also add an immediate commencement of withdrawal of all troops from Iraq; a timetable ending no later than, oh, I dunno, say November, 2012 for withdrawing alltroops from Afghanistan; and another timetable for withdrawing troops from peaceful places that don't need an American troop presence.  Like, oh, I dunno, Germany.  Or Japan.  I'm guessing that would save a little scratch, don't you think?

And finally, how about a constitutional amendment that defines "war" specifically, so that the President can't simply ship 100,000 folks (and their support folks) anywhere whenever he gets a hankering to take out someone who insulted his Daddy.  Then if you want to send off troops, Mr. President, you have to get the approval of Congress.  Like you're supposed to.  (And wouldn't that slow those guys down!)  (I would define it as "sending a total number of troops greater than 50,000 to a conflict area."  Yes, I'm sure future Presidents would get around it, but you have to start somewhere.) 

Now, if you right-wing jerkweeds are willing to do all that, then maybe we'll talk about "entitlements".  But first, let's see what some of these fixes do to the ol' budget.

Frankly, I'm not holding my breath.