Friday, November 30, 2012

10 Ways to Avoid the Fiscal Cliff - Josh Harkinson

Although you might never know it from listening to the pundits, America isn't broke.

We have plenty of money to pay for government programs—we've just gradually lost our ability to collect it.  The money is there if you know where to look for it.

Here are 10 ways that politicians could avoid the fiscal cliff's $1.2 trillion in trigger cuts.

While these ideas alone won't immediately eliminate the budget deficit, they will, combined with expected growth, point the nation towards a sustainable fiscal path.

1. Stop giving investors a sweetheart deal
2. Quit subsidizing mansions and vacation homes
3. End the "step up" giveaway on inherited stocks
4. Revitalize the "death tax"
5. Heed America's favorite investment guru, Warren Buffet
6. Reset back to Clinton-era tax rates for upper incomes
7. Take agribusiness giants off the federal teat
8. End oil and gas sweetheart subsidies
9. Forget cap and trade: Impose a carbon tax instead
10. Stop giving corporations an excuse to hide profits and send jobs abroad

The full article is available here