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-- slashing corporate tax rates from the top 35% rate to 26%, combined with eliminating some deductions;
-- making permanent the research and development tax credit;
-- making deeper Medicare cuts; increasing Medicaid co-pays; slashing $54 billion from graduate medical education; and enacting "comprehensive tort reform," making it harder for aggrieved patients to file malpractice suits;
-- raising the Social Security retirement age to 69 by 2075; reducing cost-of-living increases, now based on annual inflation rates; raising the payroll tax ceiling to $200,000, letting million dollar earners off the hook like now;
-- cutting the federal work force 10% by 2015, adding to the unemployment rolls;
-- raising the federal gasoline tax by 15 cents a gallon and imposing "user fees" on motorists - to have workers fund the federal transportation and highway spending program; and
-- cutting $100 billion in military spending, including administration, inefficiencies, "unnecessary" weapons (likely ones Pentagon brass don't want in lieu of others they won't sacrifice), force contingents on overseas bases, and healthcare benefits for military retirees through enacted premiums and higher co-pays; unmentioned is the Pentagon's open-ended black budget, supplemental Iraq and Afghanistan appropriations, and commitment to continued imperial wars; also that military spending will grow annually, unimpeded;
Overall, by 2020, NCFRF proposes cutting growing deficits by about $3.8 trillion, half of the expected $7.7 trillion otherwise incurred.
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