They say the longest journey begins with the first step. Everyone is looking for that ONE idea to fix the economy. The partisan bickering is keeping us from accomplishing anything. So let's set up some guidelines for National Policy:
The priorities of any law should be:
1. National Defense
2. Immediate Environmental Damage
3. American Economy (jobs)
All expenditures that don't meet these criteria should be suspended (not repealed) for 5 years.
All elected officials will take a 10% salary cut - I know this is mostly symbolic to them but isn't that the definition of what symbolic is?
There will be a temporary tax surcharge on those making over $500,000.
$500,000 +1%
$1,000,000 + 2%
10,000,000 +3%
Capitol Gains for individuals will go up to the level of income tax for individuals in 3, 1 year steps.
Capitol Gains for business owned by more than 3 people will drop 5% and a tax credit issued for the amount put back into the business to employ workers - not to buy machines.
Money for the arts will be cut to the amount it does not directly employ people and at a rate no more than $100,000 per worker. This is no money to employ a $1,000,000 head of a non profit art organization.
Home interest deduction is to be caped at $25,000 per year per family.
Medical deduction capped at 8% of income with no minimum.
The Military budget will be cut by 20% and 50% of that money put aside for the health care of our current and past servicemen and women.
Taxpayers will have to pay Social Security taxes on the first $150,000 of salary up from the current $107,000, and all income is calculated against your SS earnings limit. The government has to freeze borrowing against the SS fund and start returning 1% per year to the fund.
Able-bodied welfare recipients will be required to spend up to 50% (20 hours) per week performing assigned work. The government will have the ability to overrule union regulations as long as the additional workers do not affect the working hours of the existing workers too less that 40 hours. Any company that hires a person currently on welfare would be eligible for a tax credit for one year, up to the amount the person would have received in welfare had they stayed on. The person would be subject to all the responsibilities of any other employee - so special consideration.
This is just a start of what can be done - we need people with ideas to get us out of this problem, not fight over who got us in.
ChrisZ
