While taking care of a number of personal health issues, I have been talking to (well, by email) a number of tea partiers, union members, teachers, federal officials, doctors, attorneys and just run of the mill people about how to resolve our national medical / economic / debt issues. I've concluded that a series of "fixes" will not result in a solution. It will take one comprehensive fix where everybody tosses something into the pot. So here goes: 1) We throw out the current health care laws (Obamacare, Medicare and Medicaid) and replace it with a single payer Medicare plan for citizens from birth. Green Card workers and legitimate visitors from out of the country (by visa or passport) also would be covered. Illegals would be treated and deported immediately. 2) Social Security and Medicare taxes would be collected on all income (earned or dividends) without caps. Social Security payees would not be taxed. Federal workers, teachers, etc. would all be brought into the same SSN system. 3) The first $30,000 of income would not be subject to income tax. Then a graduated income tax would be assessed to a maximum of 25% for incomes up to $5M. Income exceeding $5M per year would be taxed at 50%. Tax shelters and write-offs would be eliminated. The exception here would be for actual financial loss caused by fire, flood, earthquake and other natural disasters). The same would apply to corporations, since they are technically "persons." 4) Employers would no longer be allowed to withhold union dues. Unions should be free to recruit members without corporate impediments, but they should be responsible for their own collections. Severe financial penalties would be imposed for worker coercion to join or not join a union. 5) Companies should establish a ratio of worker to executive pay plan in their corporate charters. If the lowest paid worker makes "x," then the top executive or owner should be paid "500x" or "250x" or whatever ratio the company wants. Each employee would be assigned a level of importance (a file clerk might be 25x and the department manager might be 100x). If the corporation wants to provide a raise to their top guy, everybody in the company gets the same percentage raise. Promotions would come in the form of raising the "x" factor of their job importance. This structure would be extended to federal, state, county and city workers. For example, the President is the CEO so pay plans would be scaled down from there. 6) Employers would be fined $10,000 per undocumented worker employed (or contracted). Apartments leasing to undocumented persons would be assessed a fine of $1,000 per illegal occupant. Children born in the United States would be citizens only if at least one of the parents is a legal citizen. 7) Wall Street speculation should be treated the same way Las Vegas gambling is done. Gamblers must pay tax on their winnings, but losses are not deductible. The exceptions would be for investors who do not exceed $500,000 for a particular stock offering and for oil drilling companies but only until green energy plants can generate sufficient power for the nation. 8) No elected or government official would be allowed to meet with a lobbyist unless all the lobbyists for that issue were present and a week's prior notice provided to the public. Records would be open -- no meetings closed to the public. 9) Campaign funds not used by the candidate or party would be contributed to the corresponding federal, state, county or city governmental entity. Strict accounting of who contributed and how much would be open to the public six weeks after the election is certified. 10) Congress must designate $100B or so to debt reduction until the debt is eliminated. Until that happens Congress should assign budget proportions as appropriate. For example, they could decide Medicare is assigned 20%, defense 20%, debt/debt interest 25%, infrastructure issues 5%, federal employment 5%, and 25% for other expenditures. No expenditure exceeding 100% would be allowed. If we go to another country to fight a war, that country should pay for it in cash or in resources. For example, the Arab League asked us to help the Libyan insurgents. Fine. We fired 110 tomahawks at $1.5M each, so we bill the Saudis and their colleagues $165M for that plus the operational costs. For each U.S. soldier or sailor lost, the host country should pay $5M in "blood money" to the family of the dead. <O</O There are holes here, no doubt, but it would be a start. Everybody would lose something, but everyone would gain something as well.
Excellent post! However, I would make changes to 5. Private companies shouldn't be forced to do anything, however, they should not be able to take advantage of tax benefits if they don't follow certain guidelines. For example, a 5% tax reduction can be in place for cooperation that follow the ratio. Also, I would add that any companies that have less than a 60% ratio of American Employees to be considered a foreign company and have addition taxes or VAT added to their products and services. This includes no bid priorities or development findings. I also advocate a strong proficiency requirement among our federally elected officials, with some stress in economics. Too often, our economic policy is based on politics and not reality. This goes for both conservatives and liberals.
I like a lot of what you said, but this part loses me completely. Are we mercenaries now? Who decides what the resources are worth if the country doesn't have cash? Wouldn't this policy just invite us into more conflicts ("the invisible hand, lol")?
I have a serious problem with #6, but other than that, none of this seems to unreasonable at first glance.
There is no way to stop illegal immigration on either border -- too porous -- that is merciful and cost effective. However, if illegals are denied employment and a place to live, the issue will resolve itself within a short time. Green cards, which are temporary, could be issued to workers who can prove they have a job, for example, with an apple farmer. Then there is no need for a "coyote" or mule job. Bus travel expenses are not that great.
Of course, this operates under a seemingly false assumption that Americans want the jobs illegal immigrants do, or would do them just as well. I always found this campaign to be particularly effective at illustrating the point. Illegal immigration is probably one of the stickiest issues out there because it has some a human element to it. It's quite difficult to tackle and a bullet point here or there will be divisive at best. I realize you're trying to be broad, but... Anyway, pretty good overall which is a bit shocking coming from you. Have a change in ideology recently or what?
It's called compromise. No one is going to get all he/she wants. For example, I'm caving on health care while others are caving on union issues while others are caving on economic issues.
Re: point #10 of allocating $100B for debt reduction... we are already paying hundreds of billions just in interest on the debt every year, so this is not going to reduce anything...
I agree. That's why I said debt/debt interest, i.e. the $100B and the interest where I was referring to the budget percentages. ..
"Congress must designate $100B or so to debt reduction until the debt is eliminated." the debt will never be eliminated by setting aside just $100B a year and in any case, the debt will never be eliminated unless the dollar is severely devalued or tangible assets (like Alaska and Florida for instance) are sold off to the highest bidder!
I agree paying the debt at this rate will take some years, but this gets us going in the right direction. The interest gets smaller as the total debt gets smaller, so the payoff is accelerated with each passing year. More importantly, the economy is not crushed in the short term. Keeping a leash on Congressional spending will be much, much more difficult.
Apologies. I overlooked your reply. We already are the arms dealer to the world. Why not go all the way? Afterall, we need the money and we have no viable policy on foreign affairs. We are helping the civilians fight the Libyan dictator but we won't lift a finger to help civilians fight the Syrian dictator. Both countries have sizable, vocal majorities who crave change.
No. Let me repeat -- the debt will not be repaid at all, especially if you have ~$500B in interest payments every year and are only setting aside $100B to pay it. But the debt will not be repaid anyways. In fact, i implore you to come up with any country or empire in history that has ever fully repaid its debt.
It's like owing $1,000 in credit debt. The cc company bills you $50 (most of which is interest), but you send them $100 each month. That extra $50 reduces the debt gradually while at the same time reducing interest. It just takes time. Also, you are correct that inflation over time reduces the burden, especially if you stay within budget. However, debt cannot be ignored or dismissed. Time out. It's Rocket time.
I should have been more specific. I don't have a problem fining companies that hire illegal aliens. I have a serious problem trying to change the law to prevent children who are born in the US from being citizens.
Here you cite an example paying 200% of the required interest payment to service the debt. And prior to this, you have proposed paying only 20% the required interest payment on the national debt. Paying 20% of the debt interest (your $100B proposal) will not reduce the overall debt.
If agreeing to everything on this list assured that everything on this list was put into effect, then I would support it in an instant.
Pip, paying $100 on a $50 invoice is a 100% more than required, not 200%. Second 20% of our total $1 trillion plus budget is more like $200+B. Our interest is $500B, so that actually is paying $150B on principle. That's unreal even for the biggest of us dreamers.
