This Makes More Sense Than Congress Has
Congressman Alan Grayson (Democrat - Florida) has actually bothered to do the math on the wars in Afghanistan and Iraq. Stop the funding of these wars and the first $35,000 earned by every American can be tax free - no federal income taxes! Plus, the USA federal budget deficit and debt are no worse off than before! You want economic stimulus in the USA economy? Try reducing federal income taxes and require the government to pay for wars out of the existing military budget! If Congress and the Administration want to continue wars in Afghanistan and Iraq, then they can pay with the existing military budget. Stop using a "Chinese Credit Card" to pay for USA Wars!
Summary of Representative Grayson's legislation below, after the video.
The War Is Making You Poor Act (HR 5353) has 3 main provisions:
1) Existing wars in Afghanistan and Iraq must be funded with current proposed military budget of $549 billion. The additional, supplemental $159 billion requested for the "emergency wars" in Afghanistan and Iraq would not be approved.
2) The 90% of the $159 billion not spent on the "emergency wars" in Afghanistan and Iraq is then used to make the first $35,000 of every American's income tax free - $70,000 for married couples.
3) The remaining 10% of the $159 billion is not spent at all, so is a reduction of the USA federal deficit and debt.
1) Proposed USA military budget is $549 billion.
2) An additional $159 billion has been requested for the wars in Afghanistan and Iraq.
3) Total USA military spending is as much as the rest of the world combined.
4) Second largest military spending in the world are our NATO Allies in Europe, obviously not a threat to USA.
5) Largest military spending in world that is possible threat is China, USA outspends China over 5 to 1 on military.
6) Next threat to USA would be Russia, USA outspends almost 10 to 1 on military.
7) Almost 1/3 (33%) of Americans do not make more than $35,000, would be excused from income taxes
8) Reduces federal deficit by $16 billion.
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