WASHINGTON, D.C. - The recent Bowles-Simpson bipartisan committee released their report that providing for future cuts in programs such as Medicare, Social Security, Medicaid, military pay, military health care and unemployment insurance, all programs that take money out of the hands of people who need it and will spend it, thereby helping businesses.
Democratic Congresswoman Jan Schakowsky of Illinois, a member of the Bowles-Simpson committee charged with making proposals to eliminate the deficit, has proposed her own program which targets changes at the opposite end of the economic spectrum - corporations and the wealthy.
Schakowsky developed her plan as an alternative to the Bowles-Simpson plan because she is committed to saving money for the middle class and the poor who had nothing to do with creating the deficit and long-term debt. The debt was created to benefit banks, those families in the 1.4% at the top of the income ladder and big business. As Warren Buffet recently said, "We (the richest) do not need the benefits; take it (taxes) from us."