Disclaimer: I fully realize that most of the fixes coming up are probably next to impossible given the current politics of the country, but these are just items that would fix our economic woes for a long time to come... It's your job to figure out how to get this done..
Budget deficits are all the rage at present and both parties start swinging the ax at the social programs that keep the bottom from completely falling from under as many as 100 million of us which their cuts to these programs will not fix..
TO FIX THE SOCIAL PROGRAM PARTS
Going to a single payer heath care program all alone fixes the long term deficit spending problem. See this link for proof.
Fixing Social Security for the long term requires a raise in payroll taxes by 2% (1% for employee and employer) . See this link. There are many ways(12 listed in the link) to fix this problem and as employer based retirement programs are disappearing many people will rely on Social Security being there and the simple tax increase does that . If you throw in a few other of the taxing ideas there would be no problems in the future. Reducing benefits starting now is not the answer and does not fix long term problems.. Making part of your contribution part of your IRA is one of the worse ideas of all,most don't have the time or knowledge to do that successfully.
Taxes:
1.Restore the Bush tax cuts.
2.Tax Fast Track Trading profits as regular income..
3.Tax all offshore money at same rates as income parked here.
4. Put in place Import Tariffs industry by industry to protect and bring home manufacturing that we deem necessary for security and good paying jobs..
RESETTING THE BANKS: Return Glass-Stegall law into effect-break up the big banks as they were before . Return marging requirements as they were before deregulation.
Bank Credit Card interest rate limited to 10%
INFRASTRUCTURE REBUILD .. provide sufficient funds to rebuild all are crumbling infrastructure and build new industries.
1. Fund training programs to upgrade job skills needed by manufacturing and new skills as required.
Commence a massive rebuild of the National Electrical Grid.
Commence build out of a new National Rail System with the intent of moving most freight by train instead of trucks..
Fund startup technologies , such as solar, wind, and yes nuclear energy.. transition away from fossil fuels , particularly ethanol.
I can hear the screams now , that's Socialism your suggesting, nope it's Survialism . Call it what you will , but whatever it is it won't be the further slide into third world status for all.
The Trickle Down Theory , Globalism, Free Trade and the lot of conservative economic theories have proven they are wrong , once again.. Why do we keep expecting different results from the same medicine.. As crazy as you might have thought about ole Ross Perot "His Great Sucking Sound Theory" was right on and now you are living with the results.. Suck it up and back the changes above and the change will come...Or not, welcome to Greece USA!
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Grey Tiger, you are on a role.
ReplyDeleteInspiring to read. Real solutions to HUGE problems.
I know we are all busy, but it is worth it to read the links in the article.
Workers and their employers stop paying into the social security at $106,800 per year. I think the best solution to Social Security is to remove the cap.
~ Heidi
I agree, but I don't know if there is a cap on SS payout. If not, then you make more, you should pay more.
ReplyDeleteTo cut the deficit a bit, I really think aliens should not get an benefits or medical care, except emergency care, but I guess that is why the ERs are full of sneezing, sniffling people now.
I keep on hearing that illegal aliens are getting care and that definately should stop, but a system would need to be set up for the hospitals to verify Ids and SS or medicare numbers. The people filling out the forms for them should be fined or worse.