4. Corporate income Taxes. Since the last 30 years the middle class income has not even kept up with inflation. I propose a way to get higher income for the masses and at the same time lower corporate income taxes. A US index of income multiples should be instistuted thereby giving the power to lower their corporate income tax rate to as low as 15% by minimizing the raios of the highest to the lowest paid employees. E.G. using an index of 100 a CEO of a corporation ( all public companies and most small subs corporations with 50 or more EE's. A CEO making $3.5million and the lowest paid makes $35K would stay at the current top corporate rate of 35% if the CEO's total compensation goes over 100 times the lowest paid then the tax rate would jump up to a top rate of 45% incrementally say for every increase of 5 X's e.g. 105 the top rate goes up by 2% ( I would also implement an AMT type of tax on any corp reporting profits of more than $10 million and where they pay no tax on that income.) so if a CEO makes more than 150 times the lowest paid their top rate would be 40%. Conversely if a CEO takes less total comp. that workd out to less than 100 X's the lowest paid. For every multiples of 5 the CEO either takes less or pays more they can in effect lower their Corporate rate to as low as 15% so in thae example given above if a CEO makes no more than 50 times the lowest paid EE his or her corp. rate would drop to 15% So now the onus on lowering corporate income taxes would fall on that companies respective CEO's total comp.
This would reign in absurd comp. for CEO's who screw up or who run their respective companies well ( profitable) will help shrink the income gap in this country by a huge margin! At the same time making their company more competitive in the global world of business. Also I propose doing away with the couble taxation of dividends!
5. As for personal income tax I say create a flat tax of 5% and a National Sales tax of 23% or do away totally with the 5% and install a 26% consumption tax. That would raise all the current lost taxes for those who work in cash or in illegal businesses. I would exempt Food and Medical all other purchases would be subject to the National tax. In this way savers/investors are rewarded by their frugality and or risk taking. All those illegal payments made to cash workers or drug dealers etc. when they buy that 20K watch or that 100K car or 20 million dollar mansion they are hit wth that 23-26% consumption tax. Interest, dividends & capital gains would be tax free! Mortgage interest deductions and rents should get some relief as well, by giving them a 5-10K tax credit. But that's it all other deuctions would be eliminated.
6. Term limits for the President, Congress and the Senate
6 yrs for Pres. 6 2 yr terms for Congress and up to 3 terms for Senators! Also make them pay into Soc sec and get the same meical plan the American citizens are forced to live with.
7. I would also propose Medicare for all. But the Insuranc eindustry could be rewarded by other means. Like The national Lottery and Future Soc Sec recepients by purchasing Annuities for those income streams.
8. Decrease Defense spending by mering the Dept of Homeland security into the defense dept. and cutting a total of 1 trillion over the next 10 years out of our defense/homeland security spending
9. Withdraw all our troops from Japan, Germany and So. Korea or get those countries to foot the bill we Americans are now paying.
10. Implement the Pickens plan for Natural Gas, plus install wind turbines thoughut the middle of America.
Raise the Gasoline tax by $.50 per gallon to pay for the rebuilding of America's infrastructure!
More to follow
Friday, April 22, 2011
If I were running for President
My Platform would be the most honest and comprehensive of any of the current announced or unannounced candidates including President Obama. The following are my postions which I think some of esteemed candidates would be wise to consider.
1. The USPS is currently running a 7 billion dollar deficit. Because of this deficit the USPS has had to close many Post Offices around the country. These closings has caused much hardship for rural Americans where they now have to travel ( mostly by car) many miles to just to mail a 44cent letter ( Which in my opinion is still a very good deal to send a letter)
Solution IMHO Congress should propose/create a NATIONAL LOTTERY sold exclusively in all US Postal Offices. This would be a raffle type drawing ( which means there are guaranteed winners with no Jackpot carryover) First Prize would $500 million TAX FREE Paid out @ $50 million a year for 10 years. There would be 1000 second prizes of $1million paid in a lump sum also tax free. The current lineup of States who have Lotteries would obviously complain that a National Lottery would eat into their sales of their lottery tickets. So to mitigate/eliminate their concerns, the National Lottery would have only two drawings per year. One on the 4th of July ( thereby making Independence Day much more meaningful for those who are lucky enough to win) and the other on December 31st ( thereby making the New Year a remakable one) A very conservative estimate of the semi annual sales would be in the range of $100 billion and by paying a 10% commission to the USPS, there would no longer be a deficit. After all expenses are paid ( Prizes, Commisons , Advertising etc. etc. ) 80% goes to fund PELL Grants to those Americans who go to college but need some form of financial assistance. The remaing 20% goes into the USPS gemeral fund to reduce Postal costs across the board ( Stamps, money orders etc.). The way this National Lottery is structured IMHO the rich would play. Plus as we all know the poor, who are the biggest Lottery player,it would be a way for them to contribute to funding Education for the future of America. Which IMO is a Noble cause for America to remain competitive in the 21st Century. This National Lottery could create 50,000 jobs across the country. So IMHO this is a win win win proposal.
2nd. As president I would pardon every non violent drug offender currently serving time in a State or Federal prison . This Pardon would have some conditionsd like, these people must go into a job traing program, so they can eventually become productive tax paying Americans. As an intergral part of this Act, I would legalize Marijuanna and create a mechanism for those Americans who want to be Growers and another mechanism for those who want to become retailers. The hypocrisy surrounding American Drug policies must be removes entirely. The US government would collect the licensing fees from those who want to becoem Growers/Farmers of this plant. The States would collect a licensing fee from those who want to open retail establishments selling Marijuanna to those over the age of 18. Another very important use that would arise form this legalization wudl be those companies who would use HEMP ( a by product of the Marijuanna plant) to make Paper, Cardboard, Clothing and other items currently being made form the destruction of trees. Between Licensing fees, Taxes, and the Jobs that would be created could add $250billion or more to our GDP. Plus the savings from not prosecuting and housing these people in prisons would save another $150-200 billion our Government spends to arrest, lock-up and support these current law breakers. Over all I believ this simple act would add over $1/2 trillion to our economy.
3rd. I would decriminalize all hard drugs and eiminate the "War on Drugs" that this country has been waging for over 30 years with over $2trillion dollars being spent, and no discernible reduction in the consumption/demand for these hard drugs. IMHO drug addiction is a Medical/Psychological problem not a criminal one! This act alone would save the US Treasury over $500 Billion a year ( Prison, interdiction, court time etc) Free those who are now looking to stop the inflow of drugs and place at least 75% of them on our borders. Create drug dispensing clinics for addicts. As an off shoot for this new treatment we would import the processed poppies from Afghanastan. therby giving that country a legal crop to export.
Part of the dispensing of Heroin Cocaine etc. would be psychological counseling along with Job trainng or straight up scholarships for college/education making these former drug addicts/parasites productive citizens. Saving the US government hundreds of billions of money that IMHO is being wasted now under our current laws!
More ideas platforms to follow
1. The USPS is currently running a 7 billion dollar deficit. Because of this deficit the USPS has had to close many Post Offices around the country. These closings has caused much hardship for rural Americans where they now have to travel ( mostly by car) many miles to just to mail a 44cent letter ( Which in my opinion is still a very good deal to send a letter)
Solution IMHO Congress should propose/create a NATIONAL LOTTERY sold exclusively in all US Postal Offices. This would be a raffle type drawing ( which means there are guaranteed winners with no Jackpot carryover) First Prize would $500 million TAX FREE Paid out @ $50 million a year for 10 years. There would be 1000 second prizes of $1million paid in a lump sum also tax free. The current lineup of States who have Lotteries would obviously complain that a National Lottery would eat into their sales of their lottery tickets. So to mitigate/eliminate their concerns, the National Lottery would have only two drawings per year. One on the 4th of July ( thereby making Independence Day much more meaningful for those who are lucky enough to win) and the other on December 31st ( thereby making the New Year a remakable one) A very conservative estimate of the semi annual sales would be in the range of $100 billion and by paying a 10% commission to the USPS, there would no longer be a deficit. After all expenses are paid ( Prizes, Commisons , Advertising etc. etc. ) 80% goes to fund PELL Grants to those Americans who go to college but need some form of financial assistance. The remaing 20% goes into the USPS gemeral fund to reduce Postal costs across the board ( Stamps, money orders etc.). The way this National Lottery is structured IMHO the rich would play. Plus as we all know the poor, who are the biggest Lottery player,it would be a way for them to contribute to funding Education for the future of America. Which IMO is a Noble cause for America to remain competitive in the 21st Century. This National Lottery could create 50,000 jobs across the country. So IMHO this is a win win win proposal.
2nd. As president I would pardon every non violent drug offender currently serving time in a State or Federal prison . This Pardon would have some conditionsd like, these people must go into a job traing program, so they can eventually become productive tax paying Americans. As an intergral part of this Act, I would legalize Marijuanna and create a mechanism for those Americans who want to be Growers and another mechanism for those who want to become retailers. The hypocrisy surrounding American Drug policies must be removes entirely. The US government would collect the licensing fees from those who want to becoem Growers/Farmers of this plant. The States would collect a licensing fee from those who want to open retail establishments selling Marijuanna to those over the age of 18. Another very important use that would arise form this legalization wudl be those companies who would use HEMP ( a by product of the Marijuanna plant) to make Paper, Cardboard, Clothing and other items currently being made form the destruction of trees. Between Licensing fees, Taxes, and the Jobs that would be created could add $250billion or more to our GDP. Plus the savings from not prosecuting and housing these people in prisons would save another $150-200 billion our Government spends to arrest, lock-up and support these current law breakers. Over all I believ this simple act would add over $1/2 trillion to our economy.
3rd. I would decriminalize all hard drugs and eiminate the "War on Drugs" that this country has been waging for over 30 years with over $2trillion dollars being spent, and no discernible reduction in the consumption/demand for these hard drugs. IMHO drug addiction is a Medical/Psychological problem not a criminal one! This act alone would save the US Treasury over $500 Billion a year ( Prison, interdiction, court time etc) Free those who are now looking to stop the inflow of drugs and place at least 75% of them on our borders. Create drug dispensing clinics for addicts. As an off shoot for this new treatment we would import the processed poppies from Afghanastan. therby giving that country a legal crop to export.
Part of the dispensing of Heroin Cocaine etc. would be psychological counseling along with Job trainng or straight up scholarships for college/education making these former drug addicts/parasites productive citizens. Saving the US government hundreds of billions of money that IMHO is being wasted now under our current laws!
More ideas platforms to follow
Subscribe to:
Posts (Atom)