QUESTION 2 governmental estima...

QUESTION 2

governmental estimate DEFICIT

by what means would you reduce the federal stock deficit without hurting working Americans and the poor? Would you domination out raising federal revenues, including tax increases, as a element of deficit reduction?

DEMOCRATS

Joseph R Biden Jr

The Reagan Administration has amassed the largest public shortcoming in the history of the nation. This sin will force our children, and perhaps many hereafter generations, to pay for our excesses

We cannot abridge the deficit unless we achieve economic growing greater than the sluggish rate we have now. We can increase growing by addressing third world liability problems and reducing our trade deficits.

We must takes degrees to reduce deficits steadily athwart the next few years. Specifically, I propose to one's self cutting several billion dollars from the defense lot I would also change the heart of trade quotas to tariffs, raising more than $10 billion a year. I would also ask to eliminate all waste in restraint spending through better management and collection practices.

recently made known taxes to reduce deficits should be a last resort. If we ne to find additional incomes there are several principles we must apply. First, any of the present day taxes must be based forward "ability to pay' and must not make the tax classification less progressive. Specifically, I would strive against a value added tax, which would unfairly weight working people. Second, strange taxes must not significantly impair our efforts to be rivals in the world economy.