Fiscal conservatives say that they want to cut the deficit. U.S. Representative Jan Schakowsky has found one may to make a significant deficit reduction. She explains:
“Ask Americans if we should reduce government spending and most say yes. I agree. But let’s dig a little deeper. Let’s make the kind of choices that families make… What are we doing about billionaires who are getting tax breaks to leave to their heirs? Eleven billion dollars a year for the wealthiest Americans and their heirs. We have to make the kind of choices that help middle class Americans. We can tighten our belt, but we don’t have to do it on the backs of the middle class.”
11 billion dollars per year could be reduced from the federal budget deficit, and all we would have to do is end tax breaks on inheritances from the estates of billionaires and multimillionaires. Yet, the Republicans oppose this deficit reduction package.
What idea do they have instead? Republicans want to cut 5.7 billion dollars from government assistance for students from lower middle class working families who want to go to college. In the Republican plan, billionaires win, students lose, and the deficit gets bigger.