affordable health insurance nc: September 4th Test III

I prescribe to returning to our Capitalist roots. Let me explain and give you a tremendous example of what I'm talking about and how this all should not be a net lose lose proposition.

How much wealth has the federal government wasted / vaporized over the last century? In all regards - the net would have to be staggering, perhaps $100 trillion inflation adjusted. From Iraq to Vietnam to poor understandings of economics leading to bad economic policy, to harmful tax codes and over regulations, to eating the social security trust fund (that alone could be earning a trillion per year in interest if it existed).

The budget circa year 2000, was roughly $2 trillion. I propose rolling back to that era, and slashing huge chunks of completely unnecessary spending (yes including defense), while pushing the federal budget to the floor, perhaps around $1.8 trillion. Then I propose slashing all taxation for the bottom 75% of Americans (they don't pay much now, but zero is better), as we'll be running a nearly trillion dollar surplus. I propose slashing the corporate tax rate to 15% to better compete with the upstart nations in manufacturing. I propose completely wiping out all employment impeding taxation policies ('FICA' et al). I propose slashing the top tax bracket to about 28% to 33% range. I propose freezing the growth of the federal govt entirely.

With the surpluses that would come out of rolling back to just the year 1999/2000 budget wise, we'd pay off the national debt in probably about 12 to 15 years, we could abolish almost every form of taxation as the years would go by and we'd wipe out nearly all national debt. Budget growth should basically be locked strictly to 1% increases based on population.

In the Capitalist era, when there were almost no forms of taxation, combined with our modern era of efficiencies and productivity and so on --- I don't think there would be any problem with $18 / hour stock boys. I don't think there would be any problem with that what-so-ever. Competition for labor would heat up dramatically, pushing salaries higher (as we've seen every time we've had economic booms); removed by hyper taxation, companies would be able to afford higher wages as their profits increased accordingly (corporations increased wages 10 fold from 1850 to 1930).

Saturday, September 4, 2010

September 4th Test III

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