What should congress about huge bills?
@thegreatdebater (7316)
United States
November 11, 2011 11:46am CST
At the end of this year some big decisions will have to be made on some bills that will either expire, or will go into effect that will effect all of our lives. On January 1 the tax cut on payroll taxes will expire, unemployment benefits will run out for about 6 Million Americans, and 30% cuts in Medicare reimbursements for doctors will take effect. All together you are looking at $600 BILLION of revenue that could be cut, or increased depending on votes (Medicare reimbursements is the largest portion at nearly $300 BILLION). All of the political parties involved have voiced their opinions on what should be kept, and what should be cut. But, either way these decisions will effect all of our lives, and may be the first test to see if congress really will cut their spending ways. What do you think should be cut, and what do you think should be extended/adjusted?
http://money.cnn.com/2011/11/11/news/economy/congress_budget_expire/index.htm?source=cnn_bin
3 responses
@sierras236 (2739)
• United States
14 Nov 11
I can see a stopgap placed on the doctor cuts because both parties have a major interest in Seniors. That particular stopgap has been going on for some time now. However, the CBO will have to increase their estimate on the cost of Obamacare for that reason alone. Fortunately or Unfortunately, however you look at it, it is one of the few bi-partisan issues that both sides agree on.
I don't see another extension on unemployment benefits at least not for the people who have been on them for the full amount of time. This is partially due to some of the limits states are placing on unemployment benefits. But the real reason is that Sen. Harry Reid is unlikely to bring it up for a vote before the Presidential elections.
Payroll taxes will likely expire just due to what is perceived as an overall improvement in the economy. Again, it is very unlikely that such a bill would get voted on in the Senate at least not before elections.
So, my predictions is that about half of that is actually feasible.
@thegreatdebater (7316)
• United States
14 Nov 11
When it comes to the doctors they are a very wealthy and power lobbying group, and I am sure that republicans will support this 100% (seeing how they donate heavily to republicans), and AARP will push democrats to approve this stopgap because they are a huge lobbying group, and have a lot of power. But, my question is WHY? Doctors are WELL compensated, and even though the government doesn't pay as much as private insurance, but in some cases they do pay more, and they also don't short pay.
I agree with the extension of unemployment, and I agree that the payroll tax should expire, but if republicans vote for this than it would be a TAX INCREASE which most said they wouldn't do. So do republicans do the correct thing by allowing this to expire, or do they fight for it, and their reputation? This will be an interesting case for the new tea party republicans out there.
@sierras236 (2739)
• United States
16 Nov 11
I just don't see either the payroll taxes or the unemployment bill going up for a vote in the Senate. I think that will be the major reason you won't really see a fight on those even if they do raise taxes. There might be one in the House but definitely not the Senate. It took Sen. Harry Reid like six months to write Obama's job bill. Yeah, a vote on either of those things is a political minefield and not one that is "politically safe."
Simple answer on the Doctor fix. Doctors will drop Medicare patients because they will get reimbursed at a significantly lower rate than other insurance. It is already starting to happen. It is like saying we will cut 30% of your pay if you treat these people but if you switch to treating a different group of people, you get an automatic 30% pay raise for doing the same exact job. Would you work for 30% less just because? Yeah, doctors may make a lot but just like everyone else, they do have an interest in their incomes.
@thegreatdebater (7316)
• United States
17 Nov 11
You are probably correct on the payroll tax, and unemployment. But, it will be interesting if either party catches slack because of it. When it comes to doctors I think if they do cut their pay you will see many of the try to drop Medicare, but they will end up hurting themselves in the end, and take what they will get. If they cut Medicare and Medicaid patients their practice will be hurt dramatically. There is an old saying with have in commission sales: 10% of something is better than 20% of nothing.
@kingparker (9673)
• United States
12 Nov 11
I am not a big decision maker, but I knew that medicare really affects many lives around us. We definitely have to make some changes or reform on our medicare bills, otherwise, billions to millions of people will not be able to afford the medical bills. For instance, my recent dental bills just scare of me, since the doctor want me to have this crown and bridge down, which will cost me up to over $1400. The dental care only pay half, and after that, I still need to pay $1400 out of my pocket. Too much to be paid.
@burrito88 (2774)
• United States
12 Nov 11
Over the next two years there are a lot of tax cuts that will expire is congress does not act. That includes the Bush tax cuts on the wealthy, the social security income tax cut, tuition deductions, mortgage insurance deductions, the lifetime learning credit, the teacher tax deduction, student loan deductions, the marraige penalty deduction, decreases in child tax credits and earned income tax credits, the bottom tax rate will increase, the tax on capital gains will increase, and the debt forgiveness on the sale of homes with underwater loans (short sales) will go away making that debt forgiveness taxable as income. Gee, sounds like we Congress can balance the budget just by doing nothing, IF we have any money left.
