When Democrats Cut the Budget
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Former Secretary of Defense Robert Gates often noted that there are more members of Pentagon bands than all U.S. Foreign Service Officers, who are our first line of defense at American embassies around the world. Over the past four years the Departme
Former Secretary of Defense Robert Gates often noted that there are more members of Pentagon bands than all U.S. Foreign Service Officers, who are our first line of defense at American embassies around the world. Over the past four years the Department of Defense has spent more than $1.5 billion on military bands, musical performances, and concert tours around the world. This reasonable reform reduces Pentagon spending on military bands and musical performances from $388 to $200 million.
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Lowers the cap on taxpayer dollars paid to private defense contractors from the all-time high current cap of $763,029 to $199,700. This change reflects the notion that taxpayer money should not be used to pay private defense contractors more than the
Lowers the cap on taxpayer dollars paid to private defense contractors from the all-time high current cap of $763,029 to $199,700. This change reflects the notion that taxpayer money should not be used to pay private defense contractors more than the maximum annual salary of federal civil servants, and is roughly the equivalent of the salary of a 4-star general.
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Lowers the cap on individual income tax breaks to 28%, providing a flat rate benefit for itemized deductions. Further, the value of a deduction corresponds to an individual’s marginal tax rate – making itemization highly regressive.
Lowers the cap on individual income tax breaks to 28%, providing a flat rate benefit for itemized deductions. Further, the value of a deduction corresponds to an individual’s marginal tax rate – making itemization highly regressive.
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Repeals tax breaks, financial assistance, exploration and development expensing, preferential tax treatment of royalties, and domestic manufacturing deductions, for oil, natural gas, and coal producers. Despite the fossil fuel industries being among
Repeals tax breaks, financial assistance, exploration and development expensing, preferential tax treatment of royalties, and domestic manufacturing deductions, for oil, natural gas, and coal producers. Despite the fossil fuel industries being among the most profitable on earth, the U.S. government gives them tens of billions of dollars in subsidies through the tax code.
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-The $17 billion carried interest loophole, which allows hedge fund managers and other investors to count certain types of compen The Progressive Caucus targets five loopholes in particular, which it claims could bring in $278 billion over 10 years.
-The $17 billion carried interest loophole, which allows hedge fund managers and other investors to count certain types of compensation as investment income rather than ordinary income.
-A $4 billion loophole that gives private jet owners special tax depreciation benefits and allows yacht owners to decrease income tax bills by claiming the vessel as a second home.
-The U.S. could make $161 billion by closing a loophole that allows offshore profit shifting, and $71 billion by closing the foreign-earned income loophole, which allows Americans couples working abroad to avoid U.S. federal taxes on the first $190,200 of income.
- The proposal would also close the $25 billion "Facebook Loophole," which allows companies to deduct stock options cashed in by an employee at an inflated current market value rather than the original cost.
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The United States currently fields 11 aircraft carriers when no other country has even one of comparable size and power. Given this tremendous imbalance, the Pentagon could hold off building one Ford-class carrier, which is estimated to cost a whoppi
The United States currently fields 11 aircraft carriers when no other country has even one of comparable size and power. Given this tremendous imbalance, the Pentagon could hold off building one Ford-class carrier, which is estimated to cost a whopping $14 billion over the next decade, out of the three currently under development.
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Smarter Approach to Nuclear Expenditures (SANE) Act would scale down our nuclear weapon arsenal to a size more appropriate to meet 21st-century security threats. It makes strategic reductions to specific nuclear weapons and related programs, such as
Smarter Approach to Nuclear Expenditures (SANE) Act would scale down our nuclear weapon arsenal to a size more appropriate to meet 21st-century security threats. It makes strategic reductions to specific nuclear weapons and related programs, such as superfluous nuclear submarines, and postpones the development of nuclear weapon delivery systems.
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Significant defense savings can be achieved by simply relocating a fraction of our troops in Europe to the United States. The Cold War ended more than 20 years ago, and we no longer need to station troops in Europe to hold the line against the Soviet
Significant defense savings can be achieved by simply relocating a fraction of our troops in Europe to the United States. The Cold War ended more than 20 years ago, and we no longer need to station troops in Europe to hold the line against the Soviet Union. Our European allies are some of the richest countries in the world, but we continue to subsidize their defense, with the average American paying five times as much on defense than the average European. It’s time to reexamine our troop commitment to Europe and relocating 10,000 troops to the United States is a reasonable first step.
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