The 99% Deficit Proposal Published
Washington, DC.–(ENEWSPF)–November 17, 2011. The Occupation of Washington, DC published “The 99%’s Deficit Proposal: How to create jobs, reduce the wealth divide and control spending” detailing plans to not only reduce the deficit but close the wealth divide, create millions of jobs, strengthen the safety net and develop a democratized economy. This report is being provided to the twelve members of the Congressional Super Committee on November 17, 2011.
After holding an Occupy Super Committee Hearing on November 9, Occupy Washington DC published an evidence-based report that:
- Raises $600 billion in annual revenues thereby achieving the deficit reduction goals in two years; shrinks the wealth divide by taxing wealth more and labor less; restores a progressive tax system; taxes speculation by investors and taxes wealth held overseas.
- Cuts hundreds of billions in annual spending through reducing the bloated military budget and ending the wars, stopping corporate welfare and negotiating better pharmaceutical drug prices.
- Creates millions of jobs by solving the housing crisis, creates public sector jobs for much-needed work on infrastructure, transit, education and other areas, creates health care jobs as part of improving Medicare and expanding it to cover everyone in the United States, invests in the more efficient civilian economy rather than the expensive military economy and stimulates the economy by erasing student loan debt.
- Saves and strengthens the safety net by restoring the amount of income covered by Social Security to 90% of all income as was always intended, ends poverty retirement by expanding Social Security, reduces spending on health care by expanding Medicare to cover everyone in the United States.
- Presents steps to creating a democratized economy, the already developing new economy that will replace the failed finance, corporate capitalism.
The report points out why the Congressional Super Committee will be unable to put in place these obvious evidence-based solutions by detailing the campaign donations received by the twelve members of the Super Committee. The report describes the committee as being occupied by monied interests that prevent them from confronting the extreme wealth divide. This corruption by concentrated wealth makes the committee dysfunctional.
The report concludes that the American people will see “corruption reign supreme” and that economic and political elites should expect to see this historic American revolt of the 99% grow larger and stronger in its resolve to create a just and sustainable future.